Adiponitrile Market Size Worth USD 16.92 Billion in 2032 | Emergen Research

Vancouver, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global adiponitrile market size was USD 9.72 Billion in 2022 and is expected to register a revenue CAGR of 7.5% during the forecast period. Key drivers of this growth include increased demand from the automotive industry, the growing utilization of adiponitrile in battery electrolytes, and a rising need for Nylon 6,6.

Industry Dynamics

Adiponitrile, a versatile organic compound, plays a vital role in various industries such as chemical, medical, electronics, personal care, automobile, and textiles. The surge in demand for battery electrolytes, driven by the rise in electric vehicle sales, notably contributed to the market's upward trajectory. The demand for electric vehicles reached a staggering 6.75 million in 2021, a remarkable 108% increase from the previous year.

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Market Opportunities

To meet the escalating demand, INEOS Nitriles introduced a groundbreaking range of biological products for acrylonitrile under the brand Invireo. Manufactured sustainably from bio-based propylene, Invireo offers a climate-friendly alternative, addressing environmental concerns associated with traditional adiponitrile production.

Challenges and Constraints

However, the market faces obstacles due to health and environmental hazards linked to adiponitrile. Its toxic nature can cause skin and eye irritations, and waste from adiponitrile-containing industries contributes to air, water, and soil pollution. The intricate manufacturing process, involving advanced technology and skilled labor, results in higher operational expenses, while stringent safety measures add complexity.

Segment Insights

Product Segment: Nylon Synthesis Leads

In 2022, the nylon synthesis segment dominated the market, securing the largest revenue share. This was attributed to the escalating demand for nylon fibers and films. Adiponitrile's role in dissipating heat during polymerization, its resistance to oxidation, and stability in normal conditions make it a preferred material for the synthesis of nylon, particularly in the textile industry.

Production Segment: Hydrocyanation of Butadiene Prevails

The hydrocyanation of butadiene segment claimed the largest revenue share in 2022, owing to its effectiveness in generating precursors for nylon synthesis. This method allows precise control over cyanide addition, crucial in industries sensitive to trace impurities. Evonik's introduction of sustainably produced liquid polybutadiene products reflects a commitment to eco-friendly alternatives.

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Application Segment: Fuel Additives Dominate

Fuel additives emerged as the leading application segment in 2022, driven by the material's role in the production of high-quality fuel. Adiponitrile's resistance to oxidation and photodegradation, coupled with its purity, positions it as the preferred choice in the fuel industry, meeting stringent requirements for optimal performance.

End-Use Segment: Automotive Accelerates

The automotive sector is poised for significant revenue growth, propelled by the rising demand for battery electrolytes. Adiponitrile's properties, including oxidation resistance and durability, make it an ideal component for lithium-ion batteries, contributing to improved fuel efficiency and longer stability in vehicles.

Regional Outlook

Asia Pacific Dominates, North America and Europe on the Rise

Asia Pacific led the market in 2022, driven by the adoption of nylon 6,6 in countries like China, Japan, South Korea, and India. China, with over 40% market share, is a key player in advancing adiponitrile conversion into nylon synthesis. In North America, the demand for automobiles and textiles is fueling market growth, with the United States witnessing significant investments in the automotive sector. Europe, propelled by the surge in electric vehicles, is set for a moderately fast revenue growth rate.

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Scope of Research

Major Companies and Competitive Landscape

The global adiponitrile market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Adiponitrile. Some of the major companies included in the global adiponitrile market report are:

• BASF SE
• Braskem
• China Petroleum & Chemical Corporation
• Dupont
• Evonik Industries
• LG Chem
• Lyondellbasell Industries Holdings B.V.
• Vizagchemical.com
• Solvay
• DOW
• JSR Corporation
• Royal Dutch Shell
• SABIC
• Ineos
• Kishida Chemical Co.
• Invista
• Butachimie
• Ascend Performance Materials
• ThermoFisher Chemicals
• Spectrum Chemical

Strategic Development

• On 25 November 2022, INVISTA Nylon Chemical Company (China) held a groundbreaking ceremony for a new Adiponitrile (ADN) plant in Shanghai Chemical Industry Park (SCIP). As an important part of INVISTA's integrated nylon 6.6 value chain, the factory has an investment of more than 7 billion RMB (more than 1 billion USD), has a capacity of 400,000 tons/year, and is the largest investment project in China. company history. The plant will further enhance local nylon 6,6 production capacity and help accelerate high-quality innovation in China's chemical industry.
• On 07 December 2022, INEOS and SINOPEC announced a new joint venture agreement under which INEOS will acquire a 50% stake in the existing Tianjin Nangang ethylene project from SINOPEC. The project is currently building a 1.2-million-ton ethane cracker, expected to be operational by the end of 2023, as well as downstream product plants in Tianjin, China. A series of sub-units are under construction at the complex, including a 300 ktpa ABS (acrylonitrile butadiene styrene) plant and a 500 ktpa HDPE (high-density polyethylene) plant announced by INEOS and SINOPEC in July.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global adiponitrile market on the basis of product, production, application, end-use, and region:

• Product Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Nylon Synthesis
  • Electrolyte Synthesis
• Production Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Hydrocyanation of butadiene
  • Electrochemical hydrodimerization of adiponitrile
  • Others
• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Nylon Synthesis
  • HDI
  • Solvents
  • Specialty Polymers
  • Fuel Additives
  • Pharmaceuticals
  • Others
• End-Use Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Chemical
  • Medical
  • Electronics
  • Personal Care
  • Automobile
  • Textile
  • Others
• Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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