During the projected period (2019 to 2029), the global market for adiponitrile is expected to develop at a moderate CAGR of 4.5 percent, reaching a valuation of more than US$ 12 billion. The increased usage of adiponitrile in the production of polyamide 6-6, commonly known as Nylon 6-6, as well as the production of Hexamethylenediamene (HDMA), are projected to continue to drive market expansion.
Because it is used as a popular resin in technical applications, nylon 6-6 is in high demand in the United States and Europe.
This is especially true in terms of global automotive demand for tyre cords, which is generating a lot of attractive prospects in the industry for the foreseeable future. On this approach, adiponitrile market sales are estimated to exceed US$ 12 billion by the end of 2029.
Global Adiponitrile Market: In-Depth Assessment on Key Segments
The global adiponitrile market is segmented on the basis of application, end-use and region.
Adiponitrile Market Study Key Takeaways
With a growth rate of 1.4 times during the projected period, adiponitrile for nylon synthesis applications will control 85 percent of the worldwide adiponitrile market, with a slower rate of growth.
The majority of adiponitrile’s end-use applications will be for the manufacture of automotive components and materials, which will account for 42% of the global market, due to the high strength and temperature requirements of components such plug parts, radiator housing, and hydraulic brakes.
Developed regions, such as North America and Europe, are growing at a slow to moderate pace, but they still account for more than 61 percent of the worldwide adiponitrile market.
While sales of adiponitrile are likely to stay higher in developed nations, the East Asia Region is fast gaining pace, accounting for 20.6 percent of the global market and growing at a rapid rate throughout the projection period.
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