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.
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 vehicles, which leads to increased fuel efficiency. In addition, its use in the manufacturing of high-performance apparel and as an additive in the formulation of battery electrolytes is anticipated to positively affect the industry over the forthcoming period.
The increasing adoption of electric vehicles across the globe as an eco-friendly alternative to replace fuel combustion engines has expanded the 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. The 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. The 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 a high cost of raw material, thus increasing the cost of manufacturing. Owing to these factors, the 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 the 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.
View Report Summary @ https://www.grandviewresearch.com/industry-analysis/adiponitrile-market/request/rs1
Adiponitrile Market Report Highlights
Adiponitrile Market Segmentation
- Nylon synthesis application dominated the market with a revenue share of 86.6% in 2018 on account of increasing demand in automotive & textile applications
- In 2018, the 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 a vehicle
- North America is the largest producer of the product, contributing to more than 30% of the global production
- In 2018, the U.S. emerged as 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 cater to the global demand for the product in various end-use industries
Grand View Research has segmented the global adiponitrile market on the basis of application, end-use, and region:
Adiponitrile Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Adiponitrile End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Nylon Synthesis
- Electrolyte Solution
- Chemical Intermediate
- Electrical & Electronics