The Adiponitrile market is anticipated to grow with a CAGR of 5.1% over the forecast period of 2019-2028. Adiponitrile appears to be a colorless to light yellow liquid, which is fairly soluble and is less dense than water. This chemical is used as an essential intermediate to manufacture synthetic fiber. It is produced using two main components Butadiene and acrylonitrile.  Adiponitrile is a widely used raw material in the production of hexamethylene diamine (HMDA), a primary component of PA66. It is used almost exclusively to make HMDA, of which 92% is used to make nylon 6,6 fibers and resins. Nylon 6,6 is known to have high mechanical strength and has various purposes such as carpets, conveyor belts, insulating elements, etc. Adiponitrile also serves in battery electrolytes production and hence is in huge demand.

Top Driver: Increasing Application of Adiponitirle in Nylon 6,6 Production to Drive the Market

Adiponitirole is a widely used component for the production of Nylon 6,6. Nylin 6,6 serves as an important component for making various things such as conveyor belts, exteriors, and interiors of automotive and other applications, which is expected to fuel the market growth in the forecast period. Furthermore, the growing applications of adiponitrile in the battery electrolytes are expected to fuel the market growth in the future. Also, as an additive, adiponitrile is used in enamel coatings and as polymerizing agents in polyurethane paints. All these applications of Adiponitrile are expected to anticipate market growth in the future.

Nylon Synthesis Accounted for a Major Share in the Market

Based on application the market is segmented into nylon synthesis, electrolyte solution and others. Adiponitrile is a basic element used to make hexamethylenediamine, which is a raw component used to prepare nylon 6,6. Manufacturers to find the nylon 6,6 as a great component in textile industries, fiber industry, automotive, and rubber. The high strength, low weight, and superior heat resistance of the product are owing to the growth of the industry. Based on end-use, the market is segmented into chemical intermediate, automotive, electrical, and electronics, and others.

Advancement of Technology in North America is Driving the Market

North America is expected to be the largest market in the region owing to the rising technological advancements in the areas. Moreover, the key players such as Ivista and Ascend Performance Chemicals are the largest manufacturers of the market, and their presence in the US is expected to anticipate the market growth in the region. Also, the presence of major automotive manufacturers in the region which dead use os nylon 6,6; ultimately, adiponitrile is also a factor that may fuel the market in the forecast period. Aisa Pacific and Europe to witness steady growth in the forecast period.

Players to Focus on Mergers and Acquisitions for Profits

The global Adiponitrile market is expected to grow with a significant CAGR due to presence of various companies including Dupont, Solvay, Rhodia group, Invista,BASF, Lyondellbasell Industries, LG Chem, Ineos, China Petroleum & Chemical Corporation, Braskem, Evonik Industries  and others which are into mergers collaborations to anticipate the market growth in the future.

Invista:  Recently in June 2020, Invista Nylon Chemicals started the construction of a new plant for adiponitrile production in China. With the latest investment, Invista will be able to address the growing demand for nylon 6,6 chemical intermediates in China and the Asia Pacific region.

BASF:  In January 2019, BASF got an approval from the European Commission for its collaboration with Solvay’s nylon business. BASF and Solvay have dominant or strong market positions throughout the nylon value chain and, in particular, the value chain of Nylon 6,6.

Scope of the Report

By Application

• Nylon synthesis
• Electrolyte Solution
• Others

By End Use

• Chemical Intermediate
• Automotive
• Electrical and Electronics
• Others

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World
  

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.