Market Size of Adiponitrile Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
