Adiponitrile Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adiponitrile Market Analysis
The Adiponitrile Market size is expected to grow from 1.44 million tons in 2023 to 1.75 million tons by 2028, at a CAGR of 4% during the forecast period (2023-2028).
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- Major factors driving the market studied are increasing demand from the electrical and textile industries.
- On the flip side, the increasing awareness of bio-based plastics in different end-user industries is hindering the market's growth.
- The synthesis of adiponitrile via the biocatalytic route enables a high regio- and chemo-selective approach toward dinitriles without using hydrogen cyanide or harsh reaction conditions. It is expected to offer various opportunities for the growth of the market over the forecast period.
- Asia-Pacific region represents the largest market and is expected to be the fastest-growing market over the forecast period due to the consumption in countries such as China, Japan, India, and ASEAN Countries.
Adiponitrile Market Trends
Automotive and Transportation Industry to Dominate the Market
- Adiponitrile is a nylon-66 intermediate. It is converted into nylon-66 through hexamethylene diamine as an intermediate. Nylon-66 is used heavily in the automotive and transportation sector. It is used in radiator end tanks, oil pans, air intake manifolds, etc., as it is resistant to heat, oil, and grease.
- Nylon-66 is growing in the automotive and transportation sector in under-the-hood, chassis, and exterior and interior applications. It is due to its excellent properties, like tensile strength, chemical resistance, heat resistance, and abrasion resistance.
- The increase in airbag production because of the mandatory regulations for airbag inclusions in automobiles in different countries is also expected to increase the need for nylon-66. It is thus increasing the demand for adiponitrile.
- As the automotive industry faces stringent environmental norms, nylon-66 provides better fuel efficiency through weight reduction and lower fuel emissions. It is, thus, guaranteeing the increasing demand for adiponitrile worldwide.
- In 2022, more than 85 million passenger cars were manufactured worldwide, up nearly 6% compared to 2021. However, this was still less by around 7 million units from pre-pandemic levels in 2019, per the International Organization of Motor Vehicle Manufacturers (OICA) report.
- In Europe, Germany is among the key manufacturer of vehicles. According to the German Association of the Automotive Industry (VDA), Germany produced 13,087,738 units of vehicles in July 2022, registering a growth rate of 4% compared to 2021.
- According to the OICA, automotive production in 2022 accounted for 85.01 million units. It was an increase of nearly 6% compared to the production in 2021, which was reported to be 80.20 million units.
- As per the World Economic Forum (WEF), nearly 4.3 million new battery-powered EVs (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022. Additionally, BEV sales grew by around 75% yearly and PHEVs by 37%. Moreover, global electric car sales crossed the 5.7 million units mark in the first eight months of 2022, and the market share of plug-in electric cars increased to nearly 15%.
- The demand for adiponitrile from the segment will likely grow moderately, owing to the temporary slowdown in the automotive industry during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for adiponitrile consumption during the forecast period due to the increase in Nylon production capacity expansion in countries like China, Japan, and South Korea.
- There are less than 100 manufacturers of Nylon 66 across the globe. Companies are entering and expanding into the market to cover the increasing demand. For instance, in April 2022, Shandong Longhua New Material announced an investment of around USD 1.1 billion to construct China's biggest Nylon 66 factory with a more than 1 million tons capacity.
- In 2022, nylon 66 chip capacity expanded by 110 kt/year, an increase of 17.4% on the year. And in 2023, the new capacity planned totals 160 kt/year.
- Nylon 6,6 resin is one of the major constituents in manufacturing different electrical & electronics, automotive, and transportation components like connectors in mobile phones, motherboards of computers, connectors, etc. The Asian region is the largest producer of electrical and electronics worldwide, with dominating countries such as China, Japan, South Korea, Singapore, and Malaysia.
- According to ZEVI, the Asian electro market reached USD 3,674 billion in 2021, a 10% rise. The market increased by 13% in 2022 and estimated a 7% growth rate for 2023. China's market is the largest in the world, even larger than the combined markets of all industrialized countries. In 2021, the Chinese market contributed USD 2,447 billion, or 41.6% of the world market. Additionally, the Chinese electronic industry expanded by 14% in 2022, and the sector is expected to grow by 8% in 2023.
- Adiponitrile is widely used in producing nylon 66 in the automobile and transportation industry. The growth in the automobile industry can be linked to the increase in demand for adiponitrile in the forecast period.
- The automobile industry in the country is witnessing switching trends as the consumer inclination toward battery-operated vehicles is on the higher side. Moreover, the government of China estimates a 20% penetration rate of electric vehicle production by 2025. It is reflected in the electric vehicle sales trend in the country, which went record-breaking high in 2022. As per the China Passenger Car Association, the country sold 5.67 million EVs and plug-ins in 2022, almost double the sales figures achieved in 2021. The market is anticipated to increase the demand for adiponitrile in the country, poised to continue sales at this momentum.
- The electric vehicles market in India is majorly driven by the two-wheeler segment, which accounted for over 48% in 2021. According to the Ministry of Road Transport and Highways (MoRTH), 329,190 electric vehicles were sold in the country, representing an increase of 168% compared with the sales in 2020. In FY 2022-23, electric vehicle sales already crossed the previous year's figures, with sales of around 4.43 lakh units between April-December. It was expected to reach over 6 lakh units by Mach 31, 2023.
- The double-digit growth in automotive production in countries like India, ASEAN Countries, and Australia is expected to contribute to the market for Nylon 66, which is expected to provide an uptrend to the adiponitrile market.
Adiponitrile Industry Overview
The adiponitrile market is consolidated. The studied market's major companies include (not in particular order) Kishida Chemical Co. Ltd, Ascend Performance Materials, Butachimie, INVISTA, and BASF SE.
Adiponitrile Market Leaders
Kishida Chemical Co., Ltd.
Ascend Performance Materials
Butachimie
INVISTA
BASF SE
*Disclaimer: Major Players sorted in no particular order
Adiponitrile Market News
- November 2022: INVISTA announced the construction completion of manufacturing facilities for adiponitrile at Shanghai Chemical Industry Park. This plant will include a manufacturing capacity of 400,000 tons/year.
Adiponitrile Market Report - Table of Contents
1. Introduction
1.1 Study Assumptions
1.2 Scope of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand from Electronics and Textile Industries
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Increasing Awareness for Bio Based Plastics
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Regulatory Policy Analysis
4.6 Technological Snapshot
5. Market Segmentation (Market Size in Volume)
5.1 End-user Industry
5.1.1 Automotive and Transportation
5.1.2 Chemical
5.1.3 Textile
5.1.4 Electrical and Electronics
5.1.5 Other End-user Industries
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East and Africa
6. Competitive Landscape
6.1 Merger & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Ascend Performance Materials
6.4.2 BASF SE
6.4.3 Butachimie
6.4.4 INVISTA
6.4.5 Kishida Chemical Co. Ltd
6.4.6 Merck KgaA
6.4.7 Spectrum Chemical Mfg. Corp.
6.4.8 Tokyo Chemical Industry Co. Ltd
6.4.9 Vizag Chemical International
- *List Not Exhaustive
7. Market Opportunities and Future Trends
7.1 Biocatalytic Production of Adiponitrile
Adiponitrile Industry Segmentation
Adiponitrile (ADN) is a key precursor to hexamethylenediamine (HMDA) production. About 90% of HMDA is consumed in the nylon 66 chain. The adiponitrile market is segmented by end-user industry and geography. The market is segmented into automotive and transportation, chemical, textile, electrical and electronics, and other end-user industries by end-user industry. The report also covers the market size and forecasts for the adiponitrile market in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).
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| Automotive and Transportation | |
| Chemical | |
| Textile | |
| Electrical and Electronics | |
| Other End-user Industries |
| Geography | |||||||
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Adiponitrile Market Research FAQs
What is the current Adiponitrile Market size?
The Adiponitrile Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Adiponitrile Market?
Kishida Chemical Co., Ltd., Ascend Performance Materials, Butachimie, INVISTA and BASF SE are the major companies operating in the Adiponitrile Market.
Which is the fastest growing region in Adiponitrile Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Adiponitrile Market?
In 2024, the Asia Pacific accounts for the largest market share in Adiponitrile Market.
What years does this Adiponitrile Market cover?
The report covers the Adiponitrile Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Adiponitrile Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Adiponitrile Industry Report
Statistics for the 2024 Adiponitrile market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Adiponitrile analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
