Adiponitrile Market Receiving Tailwinds from Growing Automotive Sector
The global market for adiponitrile is expected to grow at a moderate CAGR of 4.5% during the forecast period (2019 to 2029) to reach a valuation of more than US$ 12 Bn. The increased use of adiponitrile in producing polyamide 6-6, also known as Nylon 6-6 and manufacture of Hexamethylenediamene (HDMA) are expected to remain key factors driving the growth of the market.
One of the leading adiponitrile manufacturers, Invista has made a significant investment in China in the year 2018 to build a 40,000 Ton adiponitrile manufacturing facility in shanghai chemical industry park.
Nylon 6-6 is a popular engineering resin, which is largely used in the production of interior and exterior components in automobiles, with the aim of reducing weight and bolstering fuel efficiency.
Further, the material is also finding increased use in the development of high performance textiles. Adiponitrile is also finding widespread use in battery electrolyte formulations, which is expected to bolster growth in the years ahead.
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Hexamethylene Diisocyantes (HDI) and Electrolyte Applications Aid Growth
Adiponitrile has a direct application in the production of HDMA and is widely used in the development of electrolyte solutions as an additive. HDMA is not only used in the production of hexamethylene diisocyanate (HDI), but also in the production of nylon resins as well. HDI is commonly used as a component in the formulation of polymerizing agents for polyurethane paints and enamel coatings.
Adiponitrile also finds use in the production of lithium ion batteries, where it is used as an additive in small concentrations of up to 1 per cent in relation to the weight of the electrolyte. The additive is used to boost overall performance and power retention capabilities.
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Rapid Growth of Automotive Industry Increases Use of Adiponitrile in Component Manufacturing
In terms of end use segments, the largest applications of adiponitrile can be attributed to the manufacturing of automotive components, followed by textile production. High strength, low weight, and superior heat resistance characteristics are expected to result in substitution of conventional materials such as aluminum in vehicles and the use of synthetic polyester yarns in textile industries.
Polyamide 6-6 finds use in more than 70 applications in the automotive industry including the production of essential parts such as engine covers, radiator tanks, and other components which were conventionally made from metallic materials.
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Asia Pacific Emerges Strong in Changing Landscape of Adiponitrile Market
North America is currently the largest adiponitrile manufacturer attributed to the presence of large scale manufacturers such as Invista and Ascend Performance Chemicals, and a high demand for adiponitrile to produce Nylon 6-6.
Similarly, the European adiponitrile market holds major market share of ~26% owing to innovations and tech advancements in the field. However, the Asia Pacific region is rapidly gaining traction, with growing consumption of adiponitrile in the production of automotive parts, with different OEM manufacturers generating demand in these countries. Prominent international manufacturers have started to push their production facilities in developing economies such as China and India in a bid to cut down production costs and meet the market demand effectively.
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Global Adiponitrile Market: In-Depth Assessment on Key Segments
The global adiponitrile market is segmented on the basis of application, end-use and region.
This taxonomy and the detailed ToC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Adiponitrile Market - Scope Of The Report
The following report provides forecast and analysis of the global adiponitrile market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of revenue (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global adiponitrile market along with several macro-economic indicators. This newly published and insightful report on adiponitrile sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global adiponitrile market.
The report also comprises the study of current issues with end users and opportunities for adiponitrile. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of adiponitrile manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the adiponitrile market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for adiponitrile has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous adiponitrile manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the adiponitrile market are Invista, Ascend Performance Materials, Butachimie, Kishida Chemical Co., Ltd, Tokyo Chemical Industry and others.
Global Adiponitrile Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the adiponitrile market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the adiponitrile market, which includes global GDP growth rate, various industries growth rate, such as electronics, chemical, automotive, textile and others.
This report serves as an authentic resource of intelligence on the adiponitrile market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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