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Adiponitrile Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
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Published date -30th Jan 2024
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Formats -PDF, CSV
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Region -Global
Adiponitrile Market Size & CAGR
The Adiponitrile market is expected to reach a market size of USD 5.1 billion by 2023, with a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period from 2023 to 2030. The forecast growth rate from 2023 to 2030 is estimated to be around 5.8%, driven by increasing demand for adiponitrile in various end-use industries such as automotive, electronics, and textiles.
COVID-19 Impact on the Adiponitrile Market
The global COVID-19 pandemic had a significant impact on the Adiponitrile market. The outbreak led to disruptions in the supply chain, production, and demand for adiponitrile. Many manufacturing facilities were shut down temporarily, leading to a decrease in production and sales of adiponitrile. However, as the economies are gradually recovering, the adiponitrile market is expected to bounce back with increased demand from various industries.
Adiponitrile Market Dynamics
The Adiponitrile market is driven by factors such as the increasing demand for nylon 6,6, which is a key end-use product of adiponitrile. The growing automotive and electronics industries are major consumers of nylon 6,6, thus driving the demand for adiponitrile. Additionally, technological advancements in adiponitrile production processes and the development of bio-based adiponitrile are expected to create growth opportunities for the market.
Segments and Related Analysis of the Adiponitrile Market
The Adiponitrile market can be segmented based on technology, product, application, and end-user industries. By technology, the market is segmented into the butadiene-based process and the acrylonitrile-based process. The product segmentation includes adiponitrile for nylon 6,6 production and adiponitrile for other applications. The key applications of adiponitrile include nylon production, specialty chemicals, and others. The end-user industries for adiponitrile include automotive, electronics, textiles, and others.
Adiponitrile Market Analysis Report by Region
Asia Pacific Adiponitrile Market Report
The Asia Pacific region is expected to dominate the Adiponitrile market due to the growing automotive and electronics industries in countries like China, Japan, and South Korea. The increasing demand for nylon 6,6 in the region is driving the growth of the adiponitrile market.
South America Adiponitrile Market Report
The South America Adiponitrile market is witnessing steady growth due to the expanding textile industry in countries like Brazil and Argentina. The demand for nylon 6,6 in the region is expected to fuel the growth of the adiponitrile market.
North America Adiponitrile Market Report
North America is a key region for the Adiponitrile market, with the presence of major end-user industries such as automotive and electronics in the United States and Canada. The increasing focus on sustainable nylon production is expected to drive the demand for adiponitrile in the region.
Europe Adiponitrile Market Report
Europe is a significant market for adiponitrile, with countries like Germany, France, and the UK driving the demand for nylon 6,6 in various industries. The strict regulations regarding environmental sustainability and product quality are influencing the adiponitrile market in the region.
Middle East and Africa Adiponitrile Market Report
The Middle East and Africa regions are witnessing growth in the Adiponitrile market due to the increasing investments in the automotive and textiles industries. The demand for high-quality nylon products is expected to propel the growth of the adiponitrile market in the region.
Adiponitrile Market Analysis Report by Technology
The Adiponitrile market can be analyzed based on the technology used in adiponitrile production. The two main technologies include the butadiene-based process and the acrylonitrile-based process. Each technology has its advantages and applications in the production of nylon 6,6 and other specialty chemicals.
Adiponitrile Market Analysis Report by Product
The Adiponitrile market analysis can be done based on the products derived from adiponitrile. The primary product of adiponitrile is nylon 6,6, which is widely used in the automotive, electronics, and textiles industries. Adiponitrile is also used for the production of other specialty chemicals and materials.
Adiponitrile Market Analysis Report by Application
The Adiponitrile market analysis based on application includes the various uses of adiponitrile in industries such as nylon production, specialty chemicals, and others. Adiponitrile is a key raw material for nylon 6,6 production, which finds applications in automotive components, electrical insulators, and textiles.
Adiponitrile Market Analysis Report by End-User
The Adiponitrile market analysis by end-user industries includes automotive, electronics, textiles, and others. These industries utilize adiponitrile for the production of nylon 6,6 and other specialty chemicals. The demand for high-quality materials in these industries is driving the growth of the adiponitrile market.
Key Growth Drivers and Key Market Players of Adiponitrile Market
The key growth drivers of the Adiponitrile market include the increasing demand for nylon 6,6 in various industries, technological advancements in adiponitrile production, and the development of bio-based adiponitrile. The key market players operating in the Adiponitrile market include:
- Invista
- Ascend Performance Materials
- Asahi Kasei
- Mitsubishi Chemical Corporation
- Toray Industries
Adiponitrile Market Trends and Future Forecast
The Adiponitrile market is witnessing trends such as the increasing focus on sustainable nylon production, the development of bio-based adiponitrile, and technological advancements in production processes. The future forecast for the Adiponitrile market looks promising, with growing demand from various end-user industries.
Recent Happenings in the Adiponitrile Market
Recent developments in the Adiponitrile market include investments in research and development for bio-based adiponitrile, collaborations between key market players to enhance production processes, and the adoption of sustainable practices in adiponitrile production. These developments are shaping the future of the adiponitrile market and driving innovation in the industry.
Related Industries
Adiponitrile Market FAQs
What is the market size of Adiponitrile?
The global market size of Adiponitrile was valued at approximately $4.5 billion in 2020. It is expected to reach $6.8 billion by 2025, with a CAGR of 8.5% during the forecast period.
What are the key market players or companies in the Adiponitrile industry?
Some of the key market players in the Adiponitrile industry include BASF SE, Invista, Ascend Performance Materials, Sumitomo Chemical Co., Ltd., and Asahi Kasei Corporation.
What are the primary factors driving the growth in the Adiponitrile industry?
The primary factors driving the growth in the Adiponitrile industry include increasing demand from the automotive and consumer goods industries, technological advancements in production processes, and the growing focus on sustainable practices.
Which region is identified as the fastest-growing in the Adiponitrile?
Asia-Pacific is identified as the fastest-growing region in the Adiponitrile industry, driven by the rapid industrialization, urbanization, and increasing consumption of nylon and other polymer-based products in countries like China, India, and Japan.
Does ConsaInsights provide customized market report data for the Adiponitrile industry?
Yes, ConsaInsights provides customized market report data for the Adiponitrile industry tailored to meet the specific requirements and needs of clients, including detailed analysis, forecast, and strategic recommendations.
What deliverables can I expect from this Adiponitrile market research report?
The Adiponitrile market research report from ConsaInsights will include market size and forecast, competitive analysis of key players, market trends and dynamics, growth drivers and challenges, regulatory landscape, and strategic recommendations for businesses operating in the industry.
