Specialty Nitriles Market Size

Statistics for the 2022 & 2023 Specialty Nitriles market size, created by Mordor Intelligence™ Industry Reports. Specialty Nitriles size report includes a market forecast to 2028 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Specialty Nitriles Industry

Specialty Nitriles Market Size
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Specialty Nitriles Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Specialty Nitriles Market Analysis

The market for specialty nitriles is expected to grow at a CAGR of more than 4% globally during the forecast period. Nitriles are organic compounds having a triple bond between carbon and nitrogen. They are also known as cyanides. The most commonly occurring nitrile is nitrile rubber which is a synthetic copolymer of unsaturated acrylonitrile and conjugated butadiene. Such a form of rubber is highly resistant to chemicals. Owing to the versatile and favorable chemical properties of specialty nitriles, its application in adhesives, pharmaceuticals and automotive is growing exponentially, consequently propelling the market growth.

However, the health hazards due to cyanide poisoning results from inhaling cyanides or ingesting cyanides are likely to hinder the growth of the studied market. Moreover, unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.

Achieving a wide diversity of amides and organic acid from the enzymatic hydrolysis of nitriles are likely to provide opportunities for the specialty nitriles market over the next five years.

Asia-Pacific region dominates the specialty nitriles market, owing to the soaring consumption of specialty nitriles in adhesive, pharmaceutical and automotive segment from countries, such as China, India and Vietnam.