Adiponitrile Market Size & Share, By Application (Nylon Synthesis, HDI), End-Use (Automobile, Chemical Intermediate), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Adiponitrile Market surpassed USD 10.58 Billion in 2023 and is set to exceed USD 19.44 Billion by end of the year 2032, witnessing more than 8.4% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 10.58 Billion
• CAGR (2024-2032): 8.4%
• Forecast Year Value (2032): USD 19.44 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

Increasing demand for nylon 6,6 resins in various end-use industries such as automotive, textiles, and electronics is a major growth driver for the adiponitrile market. The superior properties of nylon 6,6, such as high strength, durability, and chemical resistance, are driving its adoption in a wide range of applications.

Rising investments in research and development activities aimed at enhancing the production process of adiponitrile is another key growth driver for the market. Manufacturers are focusing on developing cost-effective and environmentally friendly production methods to meet the growing demand for adiponitrile.

Growing focus on sustainable practices and increasing awareness about the environmental impact of traditional petrochemical-based products are creating lucrative opportunities for bio-based adiponitrile. The shift towards bio-based alternatives is expected to drive the growth of the market in the coming years.

Report Scope

Report Coverage	Details
Segments Covered	Application, End Use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Asahi Kasei Corp, Ascend Performance Materials, BASF SE, Butachimie, Invista, Kishida Chemical Co., Spectrum Chemical, Tokyo Chemical Industry, Vizag Chemical, Asahi Kasei Corp.

Industry Restraints:

Volatility in raw material prices, particularly for butadiene and hydrogen cyanide, poses a major restraint to the growth of the adiponitrile market. Fluctuations in raw material costs can lead to increased production costs and hinder the market growth.

Stringent regulations pertaining to the use and production of adiponitrile, especially in regions with strict environmental policies, can act as a barrier to market growth. Compliance with regulatory standards and guidelines can increase operational costs for manufacturers, thereby impeding market expansion.

Regional Forecast:

North America is expected to dominate the adiponitrile market, with the U.S. being a key contributor due to the presence of major adiponitrile manufacturers in the country. Canada is also expected to witness significant growth in the market, driven by increasing demand from various end-use industries.

In Asia Pacific, China is projected to lead the adiponitrile market, supported by the rapid industrialization and growing manufacturing sector in the country. Japan and South Korea are also expected to contribute to the market growth, owing to the increasing investments in research and development activities.

In Europe, the United Kingdom, Germany, and France are anticipated to be the key markets for adiponitrile. The presence of established chemical industries and stringent regulations regarding environmental protection and safety standards are expected to drive the market growth in these countries.

Segmentation Analysis:

In terms of segmentation, the global adiponitrile market is analyzed on the basis of Application, End Use

Adiponitrile Market

Nylon Synthesis Application:

The Adiponitrile market for Nylon Synthesis application is anticipated to witness significant growth due to the increasing demand for nylon production in various industries such as textile, automotive, and packaging. Nylon is widely used for its high strength, durability, and chemical resistance, making it a preferred choice for manufacturing consumer goods and industrial products. The growing trend of lightweight materials in the automotive sector is expected to further drive the demand for nylon synthesis, thereby boosting the growth of the Adiponitrile market in this segment.

HDI Application:

The Adiponitrile market for HDI application is projected to experience steady growth owing to the rising demand for hexamethylene diisocyanate (HDI) in the production of polyurethane coatings, adhesives, sealants, and elastomers. HDI is known for its excellent performance properties such as high toughness, flexibility, and weather resistance, making it suitable for various applications in the construction, automotive, and electronics industries. The increasing construction activities and automotive production across the globe are expected to drive the demand for HDI, thus positively impacting the Adiponitrile market in this segment.

Automobile End-Use:

The Adiponitrile market for the automobile end-use is poised for substantial growth due to the expanding automotive industry and the increasing adoption of lightweight materials to enhance fuel efficiency and performance. Adiponitrile finds usage in the manufacturing of nylon and polyurethane materials, which are integral components in automotive applications such as interior trims, seating, airbags, and under-the-hood parts. The growing focus on reducing vehicle emissions and improving safety standards is expected to propel the demand for Adiponitrile in the automobile sector, driving market growth significantly.

Chemical Intermediate End-Use:

The Adiponitrile market for the chemical intermediate end-use is expected to witness steady growth owing to the versatile applications of Adiponitrile as a chemical building block in the synthesis of various specialty chemicals and pharmaceuticals. Adiponitrile serves as a crucial intermediate in the production of adipic acid, which is further utilized in the manufacturing of nylon, coatings, lubricants, and plasticizers. The expanding chemical industry and the increasing demand for specialty chemicals are likely to drive the growth of the Adiponitrile market in the chemical intermediate end-use segment.

Competitive Landscape:

Competitive landscape in the Adiponitrile Market:

The Adiponitrile Market is highly competitive, with key players competing based on factors such as product quality, pricing, and distribution channels. Some companies focus on expanding their product offerings through research and development, while others prioritize cost-effective manufacturing processes to gain a competitive edge. Overall, the market is characterized by intense rivalry and constant innovation.

Top Market Players:

1. Invista

2. Asahi Kasei

3. Ineos

4. Ascend Performance Materials

5. Solvay

6. Sinopec

7. BASF

8. Formosa Plastics Corporation

9. China Petrochemical Corporation

10. Arkema