Adiponitrile Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The adiponitrile market is set to grow steadily, with a forecast of $20,100,000,000 by 2024 and the same by 2030. The forecast annual growth rate of 5.5% between 2024 and 2030 is a reflection of the demand for adiponitrile, which is essential in the manufacture of Nylon and other synthetic fibers. The growing demand for high-performance materials in the car industry, in textiles, and in the electronics industry, all of which are dependent on adiponitrile, will also support the market. And the market will also be influenced by the technological progress of the chemical industry, which will reduce costs and increase the efficiency of the production process. Invista and BASF are at the forefront of innovation, investing in the research and development of adiponitrile and the development of new products. Strategic initiatives, such as cooperation and the introduction of sustainable production, will also be conducive to the further development of the market.

Regional Market Size

Regional Deep Dive

The Adiponitrile Market is characterized by different dynamics in different regions, based on industrial applications, regulatory frameworks, and economic conditions. North America is driven by the automobile and textile industries, while Europe is concentrating on sustainable chemicals and processes. Asia-Pacific is characterized by rapid industrialization and increasing demand for nylon products, which is a major driver of the adiponitrile market. The Middle East and Africa are gradually emerging as potential markets, driven by increasing investments in the chemical industry, while Latin America is expected to increase its demand for adiponitrile, driven by increasing production capabilities and availability of raw materials.

Europe

• Europe is leading in the adoption of sustainable practices in the production of adiponitrile, with companies like DSM and Lanxess focusing on bio-based alternatives to traditional petrochemical processes.
• The European Union's stringent regulations on chemical safety and environmental impact are driving innovation in the market, pushing companies to invest in R&D for safer and more efficient production methods.

Asia Pacific

• The market for adiponitrile is growing rapidly in the Asia-Pacific region, where the textile and automobile industries are expanding in China and India. In response, companies such as Toray Industries are expanding their production capacity.
• Government initiatives aimed at boosting the chemical manufacturing sector, such as 'Make in India,' are facilitating investments in adiponitrile production, leading to increased local supply and reduced dependency on imports.

Latin America

• Latin America is seeing a rise in adiponitrile demand due to the growth of the automotive and textile sectors, with companies like Braskem exploring new production methods to cater to local markets.
• Economic factors, such as fluctuating oil prices, are influencing the cost of raw materials for adiponitrile production, prompting manufacturers to seek alternative sourcing strategies to maintain competitiveness.

North America

• The North American market is booming for adiponitrile because of the automobile industry's shift to lightweight materials, which save on fuel. Consequently, companies such as BASF and Invista are investing heavily in new production technology to meet the demand.
• Recent regulatory changes aimed at reducing carbon emissions are prompting manufacturers to explore greener production methods for adiponitrile, with organizations such as the EPA providing guidelines that encourage sustainable practices.

Middle East And Africa

• The Middle East is emerging as a key player in the adiponitrile market, with significant investments in petrochemical complexes, such as those by SABIC, which are enhancing local production capabilities.
• Regulatory frameworks in the region are evolving, with governments encouraging the development of the chemical sector through incentives and partnerships, which is expected to stimulate market growth.

Did You Know?

“The adiponitrile is the main intermediate in the manufacture of Nylon 6,6 which is used in many different applications from the automobile to the textile industry. The manufacturing process of adiponitrile can therefore have a considerable influence on the overall sustainability of the Nylon 6 production.” — American Chemical Society

Segmental Market Size

Diponitrile plays a key role in the production of Nylon 6,6 and other polymers. The adiponitrile market is currently growing steadily on the back of increasing demand from various industries. The need for high-performance materials in the textile and automobile industries is driving demand, while regulatory policies are pushing manufacturers to adopt more sustainable practices. Also, the increasing efficiency of new production processes, which is reducing costs and increasing the share of adiponitrile, is increasing the demand for the product. The adiponitrile market is currently at a mature stage, with companies such as BASF and Invista leading the way in terms of production capacity, especially in North America and Asia-Pacific. The main uses of adiponitrile are in the synthesis of fibers for the textile industry and engineering plastics, which are essential in the manufacture of automobile parts and consumer goods. The growing trend toward a circular economy and the pursuit of sustainability are also driving the adiponitrile market, as manufacturers seek eco-friendly alternatives. Bio-based production methods and advanced catalytic processes are shaping the evolution of the market, with the aim of making production more sustainable and efficient.

Future Outlook

The adiponitrile market is expected to show a steady growth between 2024 and 2030, with a CAGR of 5.5%. This growth is mainly due to the increasing demand for the production of nylon 66, which is widely used in the automotive, textile and industrial industries. As the lightweight and durable material is in great demand in these industries, the adiponitrile market is expected to grow steadily, reaching an estimated value of $ 20 billion in 2030. Technological progress, especially in the field of adiponitrile synthesis, is expected to increase the production efficiency and reduce the cost, which will further promote the development of the market. Regulations to encourage the development of green adiponitrile may also promote the market. The penetration rate of adiponitrile will be further improved, and more and more manufacturers will use adiponitrile in their products to meet the requirements of consumers and the market.