Dublin, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The "Adiponitrile Market Size, Share & Trends Analysis Report By Application (Nylon Synthesis, HDI), By End-Use (Automobile, Chemical Intermediate), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global adiponitrile market size is expected to reach USD 18.17 billion by 2030 from $$9.69 billion in 2022, growing at a CAGR of 8.2%
The growth is majorly driven by the increasing demand for nylon 6, 6, which is a major end-use application of adiponitrile. As industries like automotive, textiles, and electronics continue to grow, the demand for nylon 6, 6 for use in various products also increases. 
Automotive is the largest end-use segment for adiponitrile as it serves as a precursor of polyurethane foams used in automotive seating and insulation, providing not only comfort but also reducing vehicle weight to enhance fuel efficiency. Additionally, adiponitrile plays a significant role in the production of fuel system components, such as fuel tanks and fuel lines. Thus, the surge in the automotive industry's demand will further lead to a boost in the product market.
Moreover, adiponitrile is also used in certain electrolyte solutions, which are primarily utilized in electrochemical applications and batteries. It serves as a solvent or cosolvent in specific electrolyte formulations. For instance, adiponitrile can be incorporated into the electrolyte formulations of lithium-ion batteries as a cosolvent. It is often mixed with other solvents such as ethylene carbonate (EC) and dimethyl carbonate (DMC) to improve the overall performance of batteries. Adiponitrile can enhance the thermal stability of electrolytes, reduce the risk of dendrite formation on lithium electrodes, and extend the lifecycle of batteries.
Product production often involves the use of hazardous chemicals. Meeting strict environmental regulations and ensuring compliance can be a significant challenge for manufacturers. Moreover, adiponitrile is toxic and poses safety risks to workers. Sustainability considerations in the production of adiponitrile (ADN), as well as its downstream applications like nylon 6, 6, are becoming increasingly important due to the growing emphasis on environmental responsibility and resource conservation. For instance, Asahi Kasei Corporation in January 2022, announced to produce bio-adiponitrile using biomass propylene.
Companies are engaging in adopting strategies such as partnerships and acquisitions, new product launches, and geographical expansions to gain a competitive edge in the market. For instance, in January 2022, Invista partnered with Pingmei Shenma Group, headquartered in China with an aim to upgrade the nylon 6, 6 value chain and enhance the local raw material supply.
Adiponitrile Market Report Highlights
- Nylon Synthesis dominated the market, with the highest revenue share of 86.2% in 2022. This is attributable to its rising demand owing to its exceptional tensile strength and resistance to abrasion, making it suitable for a wide range of applications, from clothing and carpets to mechanical parts and industrial components
- Electrical & Electronics application is projected to grow at the highest growth rate of 6.3% as adiponitrile plays a significant role in the electrical & electronics industry contributing to the development of advanced materials and components
- Asia Pacific region is expected to witness the fastest growth rate of 9.0% over the forecast period owing to ongoing industrialization, growing population, and expanding manufacturing base in Asia Pacific. The region is home to some of the largest manufacturing economies in the world, including China, Japan, South Korea, and India.
- The countries of the region, including China, India, Japan, South Korea, Singapore, and Malaysia, hold the distinction of being the largest manufacturers of electrical and electronic products in the world.
Company Profiles (Business Overview, Financial Performance, Product Benchmarking)
- Asahi Kasei Corp
- Ascend Performance Materials
- BASF SE
- Butachimie
- Invista
- Kishida Chemical Co., Ltd
- Tokyo Chemical Industry
- Vizag Chemical
- Asahi Kasei Corp
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.69 Billion |
| Forecasted Market Value (USD) by 2030 | $18.17 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Adiponitrile: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Adiponitrile Market Outlook
3.2 Industry Value Chain Analysis
3.2.1 Manufacturing & Technology Trends
3.2.1.1 Hydrocyanation of butadiene
3.2.1.2 Ammoniation of adipic acid
3.2.2 Sales Channel Analysis
3.3 Price Trend Analysis, 2018 - 2030
3.3.1.1 Factors Influencing Prices of Adiponitrile market
3.4 Regulatory Framework
3.4.1 North America
3.4.2 Europe
3.4.3 Asia Pacific
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.2 Market Restraints Analysis
3.5.3 Industry Challenges
3.5.4 Industry opportunities
3.6 Industry Analysis Tools
3.6.1 PORTERs Analysis
3.6.2 Macroeconomic Analysis - PESTLE Analysis
Chapter 4 Adiponitrile Market: Supplier Portfolio Analysis
4.1 List of Raw Material Suppliers
4.2 Raw Materials Trends
4.3 Portfolio Analysis/Kraljic Matric
4.4 Engagement Model
4.5 Negotiation Strategies
Chapter 5 Adiponitrile Market: Application Estimates & Trend Analysis
5.1 Resin Movement Analysis & Market Share, 2022 & 2030
5.1.1 Nylon Synthesis
5.1.2 Hexamethylene Diisocyanate (HDI)
5.1.3 Electrolyte Solution
5.1.4 Other applications
Chapter 6 Adiponitrile Market: End Use Estimates & Trend Analysis
6.1 End Use Movement Analysis & Market Share, 2022 & 2030
6.1.1 Chemical Intermediate
6.1.2 Automotive
6.1.3 Electrical & Electronics
6.1.4 Textile
6.1.5 Other End Uses
Chapter 7 Adiponitrile Market: Regional Estimates & Trend Analysis
7.1 Adiponitrile Market: Regional Outlook
Chapter 8 Competitive Landscape
8.1 Recent Development & Impact Analysis, By Key Market Participants
8.2 Company Categorization
8.3 Vendor Landscape
8.3.1 List Of Key Distributors And Channel Partners
8.3.2 List Of Potential End Users
8.4 Company Market Positioning Analysis 2022
8.5 Company Heat Map Analysis
8.6 Strategy Mapping
8.6.1 Expansions
8.6.2 Collaborations
8.6.3 Partnerships/Joint Ventures
8.6.4 New Product/facility launch
For more information about this report visit https://www.researchandmarkets.com/r/wql0pg
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