Global Adiponitrile Market Size To Worth USD 25.09 Billion By 2033 | CAGR Of 8.64%
Category: Chemicals & MaterialsGlobal Adiponitrile Market Size To Worth USD 25.09 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Adiponitrile Market Size is Expected to Grow from USD 10.95 Billion in 2023 to USD 25.09 Billion By 2033, at a CAGR of 8.64% during the forecast period 2023-2033.
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Browse key industry insights spread across 255 pages with 100 Market data tables and figures & charts from the report on the "Global Adiponitrile Market Size, Share, and COVID-19 Impact Analysis, By Application (Nylon Synthesis, HDI, Electrolyte Solution, and Others), By End Use (Automobile, Chemical Intermediate, Electrical & Electronics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/adiponitrile-market
The global adiponitrile market refers to the production, distribution, and consumption of ADN across various sectors. Its growth is driven by rising demand for nylon 6,6, technological advancements in production processes (such as electrochemical hydrodimerization and butadiene hydrocyanation), and an increase in automotive, textile, and industrial applications. The adiponitrile (ADN) market is witnessing a revolutionary shift, fueled by increased demand for high-purity ADN in emerging economies. Furthermore, adiponitrile is an organic chemical that is a key component in the production of nylon 6,6, a popular synthetic polymer used in a variety of applications such as textiles, automotive parts, and engineering plastics. The expansion of end-use industries that rely on nylon 6,6 is a significant growth driver for the adiponitrile market. The automotive industry is expanding in emerging markets such as India, China, and Southeast Asia, where rising disposable incomes and urbanization are driving vehicle ownership. However, fluctuating raw material costs, particularly butadiene, have a negative impact on production and profitability in the global adiponitrile market. Tough environmental regulations on chemical production and emissions pose additional challenges, raising compliance costs for producers.
The nylon synthesis segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the adiponitrile market is divided into nylon synthesis, HDI, electrolyte solution, and others. Among these, the nylon synthesis segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The growing automobile industry, particularly the production of lightweight vehicles, combined with expanding infrastructure and industrial use, is driving up demand for nylon-based products.
The automobile segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the end use, the adiponitrile market is divided into automobile, chemical intermediate, electrical & electronics, and others. Among these, the automobile segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The rising use of nylon 6,6 in automotive parts such as engine covers, air intake manifolds, connections, and fuel system components is driving this dominance because of its exceptional strength, heat resistance, and lightweight nature. The need for nylon-based materials is also fueled by the trend of lighter cars being built to reduce emissions and increase fuel efficiency.
Asia Pacific is estimated to hold the largest share of the adiponitrile market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the adiponitrile market over the forecast period. This is due to Asia Pacific's ongoing industrialization, population growth, and expanding manufacturing base. The region is home to some of the world's largest manufacturing economies, including China, Japan, South Korea, and India. The region's countries, including China, India, Japan, South Korea, Singapore, and Malaysia, are the world's largest manufacturers of electrical and electronic products.
North America is predicted to have the fastest CAGR growth in the adiponitrile market over the forecast period. The region also benefits from well-developed supply chains, significant investment in chemical and polymer manufacturing, and increased use of lightweight materials in automotive and aerospace. Furthermore, the growing emphasis on electric vehicles (EVs) and infrastructure development fuels demand for high-performance polymers.
Major key players in the adiponitrile market include Spectrum Chemical Mfg. Corp., Tokyo Chemical Industry Co. Ltd, Asahi Kasei Corp, Vizag Chemical International, Ascend Performance Materials, BASF SE, Butachimie, INVISTA, Kishida Chemical Co. Ltd, Merck KgaA, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the adiponitrile market based on the below-mentioned segments:
Global Adiponitrile Market, By Application
- Nylon Synthesis
- HDI
- Electrolyte Solution
- Others
Global Adiponitrile Market, By End Use
- Automobile
- Chemical Intermediate
- Electrical & Electronics
- Others
Global Adiponitrile Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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