According to the latest updates, the global adiponitrile market is anticipated to grow at a significant CAGR of 5.5% during the forecast period 2020–2027.
Adiponitrile is also called hexamethylenediamine which is a colorless organic liquid compound that has the molecular formula C8H8N2. Due to its high mechanical strength, it is preferred in the conveyor belt, nylon 66, electro insulating elements, and carpet fibers. It is used as an intermediator in the manufacturing process of corrosion inhibitors and rubber accelerators to a less extent. DuPont discovers the common industrial route that involves nickel-catalyzed hydrocyanation of butadiene to produce adiponitrile. Nylon 6–6 is fabricated by hydrogenating adiponitrile. It is lightweight and waterproof which makes it suitable for swim-wear. This is a good substitute for Nylon 6 that is used in various applications like automotive, ropes, musical instrument strings, tire cords, and others. Adiponitrile is also used in the production of lithium-ion batteries, paints & coatings, and enamels.
Due to its superior properties like chemical resistance, tensile strength, heat resistance, and abrasion resistance, it is highly demanded in the automotive and transportation industries for various applications. Rising demand for the product in fiber and plastic applications is anticipated to grow in the market in the review period. Growing the textile and chemicals is predicted to fuel the market growth. Moreover, the rising production of adipic acid makes it ideal to use as an application in polyurethane, footwear, thermal insulation, and auto seating is projected to propel the market growth.
The adiponitrile market opportunities are using the product for nascent chemical research lines may boost the market growth.
The adiponitrile market is analyzed into product type and application.
Product Type Segmentation: The adiponitrile market based on the product type is sectioned into polyurethane, nylon 6–6, fiber, nylon 6–6 resin, adipate esters, and others.
Application Segmentation: Based on the application, the adiponitrile market is partitioned into various forms such as chemical, personal care, medical, electronics, automobile, textile, and others.
Based on the recent report, the adiponitrile market is regionally divided into five major regions such as Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Among them, Asia-Pacific is leading the highest market share due to the rising growth of end-use industries in China and India. Moreover, the rise in the various end-use industries like medical, personal care, and electronics is anticipated to escalate the market growth in this region. North America is predicted to grow at a significant growth in the assessment period due to the rise in end-use industries like chemical, personal care, automobile, and textile in the emerging countries like US and Canada. Furthermore, higher consumption of polymer in various applications is expected to fuel the product demand in this region.
The adiponitrile market key players are Sinopec, LG Chem, BASF SE, Evonik Industries, DowDuPont, Royal Dutch Shell, SABIC, JSR Corporation, and others.
As per the latest research, the global adiponitrile market is estimated to grow at a substantial growth due to the huge investment in production capacity, strong supply chain network, and investments in R & D. One of the famous company, Invista Corporation planned to invest in the production capacity of adiponitrile by nearly 40,000 tons in terms of value and volume which is expected to spur the market growth in the forecast period.
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