Adiponitrile Market Size, Share, Growth Analysis, By Application(Nylon synthesis, electrolyte solutions and others), By End-use(Automotive, textiles, electrical and electronics, chemical intermediates and others), By Region - Industry Forecast 2024-2031

Adiponitrile Market size was valued at USD 9.63 billion in 2021 and is poised to grow from USD 10.24 billion in 2022 to USD 16.69 billion by 2030, at a CAGR of 6.3% during the forecast period (2023-2030).

The global adiponitrile market is experiencing significant growth and expansion, driven by various factors. Adiponitrile, a crucial chemical intermediate, is primarily used in the production of hexamethylenediamine (HMDA), which is further used in the manufacturing of nylon 6,6. The rising demand for nylon 6,6 from various end-use industries such as automotive, textile, and electrical, among others, is a key driver for the growth of the adiponitrile market. Additionally, the increasing use of nylon 6,6 in lightweight automotive components and electrical insulation applications is further boosting the demand for adiponitrile. The market is witnessing technological advancements and innovations in adiponitrile production methods to enhance efficiency and reduce costs, contributing to market growth. Furthermore, the growing focus on sustainable and eco-friendly solutions is leading to the development of bio-based adiponitrile, providing new opportunities in the market. Geographically, Asia Pacific holds a significant share in the global adiponitrile market, attributed to the presence of major chemical manufacturing hubs, increasing industrialization, and rising demand from end-use sectors. The market is also witnessing consolidation as key players are engaging in strategic partnerships, mergers, and acquisitions to expand their market presence and strengthen their product portfolio. Additionally, stringent environmental regulations regarding the production and disposal of adiponitrile are influencing market dynamics, with companies focusing on adopting sustainable practices and investing in research and development for greener alternatives. Overall, the global adiponitrile market is expected to continue its growth trajectory in the coming years, driven by the expanding nylon 6,6 market and technological advancements in production methods.

US Adiponitrile Market is poised to grow at a sustainable CAGR for the next forecast year.