Adiponitrile Market Analysis
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.
- The bio catalytic synthesis of adiponitrile, which allows for a highly region- and chemo-selective approach to dinitriles without the use of hydrogen cyanide or harsh reaction conditions, is expected to provide various opportunities for market growth over the forecast period.
- Adiponitrile demand is largely determined by the need for hexamethylenediamine in the production of nylon 6, 6 fibers and resins. As a result, the majority of adiponitrile producers are linked at various points along the value chain.
- Nylon-66 is gaining popularity in the automotive and transportation industries for applications such as under the hood, chassis, and exterior and interior design. Its excellent properties, such as tensile strength, chemical resistance, heat resistance, and abrasion resistance, are the reason for this.
- A nylon-66 intermediate is adiponitrile. Hexamethylene diamine is used as an intermediate in the conversion to nylon-66. Nylon-66 is widely used in the automobile and transportation industries. It's used in radiator end tanks, oil pans, air intake manifolds, and other places because it is heat, oil, and grease resistant.
- The increased production of airbags is expected to increase the demand for nylon-66, resulting in an increase in adiponitrile demand.
- As the automotive industry faces stricter environmental regulations, nylon-66 offers the benefit of improved fuel efficiency through weight reduction and lower fuel emissions, ensuring an increase in global demand for adiponitrile.
- Demand for adiponitrile from the segment is expected to grow moderately due to slowdown in the automotive industry during the forecast period.
- The clothing industry is also a big user of nylon in various forms. Another important dynamic of market growth and expansion is the hydrolysis of adiponitrile, which can result in the production of useful compounds. The revenue index of global adiponitrile is expected to improve over the next decade.
- The slowdown in the automotive industry in Asia-Pacific countries is expected to stifle the market's growth during the forecast period. In the Asia-Pacific region, however, rising demand from other end-user industries is expected to drive the growth.
- Ascend Performance Materials, Invista, Kishida Chemical Co., Ltd, Butachimie, Thermo Fisher Scientific, Tokyo Chemical Industry, Asahi Kasei Corp., Spectrum Chemical Mfg. Corp, Merck, and Acros Orhanixs BVBA are among the leading players in this market.
Key Benefits of the Report
- This study presents the analytical depiction of the adiponitrile along market with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the adiponitrile market share.
- The current market is quantitatively analyzed to highlight the adiponitrile market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed adiponitrile market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Adiponitrile Report
- Who are the leading market players active in the adiponitrile market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is adiponitrile?
- What does adiponitrile allow organizations to achieve?
- Which technologies combine to make adiponitrile critical organizational asset?
- What are the current trends and predicted trends?
Adiponitrile Market Report Highlights
By Production Process
Key Market Players
Solvay SA, Kemix Limited, BASF SE, E2K Dyes & Chemicals PVT. Ltd., Shanghai Dawn LLC, Ajay Shelar & Company, Yinghe Dye-Chem Co. Ltd., Unitop Chemicals Co., Ltd., Triveni Chemicals, Lanxess AG