Report Code: A12109 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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Adiponitrile, also known as hexanedinitrile, is a colorless organic liquid. It is most commonly used as a precursor for the polymer Nylon 6-6, which is known for its high mechanical strength and is used in a variety of applications such as conveyor belts, carpet fibers, and electro-insulating elements. Adiponitrile is also used as an intermediate in the production of corrosion inhibitors and rubber accelerators, though to a much lesser extent. The most common industrial route, which was discovered by DuPont and involves nickel-catalyzed hydrocyanation of butadiene, is used to make adiponitrile. Adiponitrile is the product of this process, which involves a series of sub-products. Hexamethylenediamine, a key component of Nylon 6-6, is created by hydrogenating adiponitrile. Nylon 6-6 is a good substitute for Nylon 6, which is used in automotive applications, musical instrument strings, ropes, and tire cords, among other things.
COVID-19 Impact analysis
The rapid spread of COVID-19 has had a significant impact on global markets, as the pandemic has put the world's major economies on lockdown. Because of the major lockdown, the entire consumer market has suddenly lost interest in purchasing any goods. The shutdown of all types of international transportation is one of the major challenges that the market is facing. The market for adiponitrile has slowed due to the global crisis, which has affected all sectors, including automotive, which has been hit by slowing demand in goods production and exports.
Top Impacting Factors
The main market for adiponitrile is determined by its use in Nylon6-6, which is in high demand in North America and Europe due to automotive applications. In Asia-Pacific countries such as China, Malaysia, and other Southeast Asian countries, the market for adiponitrile is also on the rise, owing to the availability of cheaper production facilities. Over the forecast timeframe, the shift toward electric vehicles in developed and developing countries will increase the growth of existing IC engine vehicles, as well as the market for adiponitrile. As vehicle manufacturing increases, so will demand for auto-parts, resulting in increased market growth for adiponitrile. In recent years, advances in chemical analysis and polymeric studies have propelled the global adiponitrile market to new heights. The chemical and physical properties of this compound have also guarded against potential market expansion factors.
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