SAN FRANCISCO, Jan. 29, 2020 /PRNewswire/ -- The global adiponitrile market size is projected to reach USD 11.9 billion by 2025, registering a revenue-based CAGR of 4.9% during the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for adiponitrile in manufacturing hexamethylenediamine, which is a major raw material for polyamide 6,6 (nylon 6,6) is anticipated to drive the market over the forecast period.
Key suggestions from the report:
- Nylon synthesis application dominated the market with revenue share of 86.6% in 2018 on account of increasing demand in automotive & textile application
- In 2018, automotive segment dominated the adiponitrile market with a total share of 81.7% in terms of revenue on account of increasing demand for PA 6,6 to design and manufacture various parts of vehicle
- North America is the largest producer of the product, contributing for more than 30% of the global production
- In 2018, U.S. is the largest consumer of the product in North America wherein 78.8% of the product was consumed in automotive and textile applications
- Some of the key market players are Invista, Ascend Performance Materials, Butachimie, and Kishida Chemicals that caterto the global demand for the product in various end-use industries.
Read 90 page research report with ToC on "Adiponitrile Market Size, Share & Trends Analysis Report By Application (Nylon Synthesis, Electrolyte Solution), By End Use (Automotive, Electricals & Electronics), By Region, And Segment Forecasts, 2019 - 2025' at: https://www.grandviewresearch.com/industry-analysis/adiponitrile-market
Polyamide 6,6 (PA 6,6) is extensively used in the manufacturing of automotive components including interior and exterior parts. PA 6,6 based components help reduce the weight of vehicle, which leads to increased fuel efficiency. In addition, its use in the manufacturing of high performance apparels and as an additive in formulation of battery electrolyte is anticipated to positively affect the industry over the forthcoming period.
Increasing adoption of electric vehicles across the globe as an eco-friendly alternative to replace fuel combustion engines has expanded electric vehicle manufacturing sector over the past few years. Adiponitrile is gaining importance as an electrolyte additive in lithium ion batteries which results in increased efficiency and overall performance of each battery cycle. Growing production of electric vehicles operating on Li-ion batteries is anticipated to fuel the demand for adiponitrile over the forthcoming period.
Adiponitrile can be manufactured by hydrocyanation of butadiene and electrodimerisation process of acrylonitrile. Hydrocyanation process requires natural gas for the heating purpose which is regulated by multiple authorities across different countries to monitor environmental pollution. Whereas, electrodimerisation process includes high cost of raw material thus, increasing the cost of manufacturing. Owing to these factors, manufacturing of adiponitrile has become a very cost sensitive process. As an effect of it, manufacturers are conducting extensive research for the development of innovative and cost effective processes to cater to the increasing demand for adiponitrile across the globe.
The market is characterized by presence of limited manufacturers across the globe. Invista uses its patented manufacturing technology at its own plant and at Butachimie, which is its joint venture with Solvay S.A. in France. Other notable players in the market are Ascend Performance Materials and Kishida Chemical Co.
Grand View Research has segmented the global adiponitrile market based on application, end use, and region:
- Adiponitrile Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Nylon Synthesis
- HDI
- Electrolyte Solution
- Others
- Adiponitrile End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Chemical Intermediate
- Automotive
- Electrical & Electronics
- Textile
- Others
- Adiponitrile Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- India
- South Korea
- South and Central America
- Brazil
- Middle East and Africa
- Saudi Arabia
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Heat Resistant Polymer Market- The global heat resistant polymers market size was estimated at USD 12.03 billion in 2016. Increasing demand for these polymers in automotive & aerospace industries is expected to drive the industry growth.
- Nylon 6 & 66 Market - The global Nylon 6 and 66 market size was estimated at USD 25.66 billion in 2017 and is expected to register a CAGR of 6.2% over the forecast period.
- Nylon 6 Filament Yarn Market - The global nylon 6 filament yarn market size is expected to reach USD 17.19 billion in 2016. It is expected to rise at a CAGR of 7.7% from 2017 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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