Press release
COVID 19 Impact on Adiponitrile Market, Share, Growth, Demand, Trends, and Regional Outlook by 2023
COVID 19 Impact on Adiponitrile Market
Competitive Analysis:
Some of the key players operating in the global adiponitrile market are BASF (Germany), LG Chem (South Korea), Sinopec (Beijing), Ineos (Germany), DowDuPont (US), Evonik Industries (Germany), SABIC (Saudi Arabia), Royal Dutch Shell (The Netherland), and JSR Corporation (Japan), among others.
Market Segmentation:
The global Adiponitrile Market has been segmented based on product type, application, and region. By application, the global market has been divided into chemical, medical, personal care, electronics, automobile, textile, and others. The textile segment accounted for the largest market share and is expected to register the highest CAGR during the forecast period. The growth is attributed to its increasing demand in the apparel industry. The segment is expected to hold more than one-third of market value share and is expected to continue the same trend during the forecast period. However, the chemical segment is also expected to add to the growth of the global market and is expected to register a moderate CAGR during the review period.
Based on product type, the global market has been divided into polyurethane; nylon 6,6; fiber; nylon 6,6 resin; adipate esters; and others. The nylon 66 segment accounted for the largest market share of the global adiponitrile market in terms of volume and value owing to its excellent properties.
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The adipate ester segment is expected to witness moderate growth in the global adiponitrile market owing to its increasing application in the chemical and electronics industries.
Regional Analysis:
The global adiponitrile market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to hold the largest share of the global adiponitrile market on account of the growth of the end-use industries in the region, especially the textile, construction, and electronics. China is expected to hold more than two third of market value share in Asia Pacific market.
North America and Europe are expected to be the prominent markets for adiponitrile due to the increasing demand in the automotive and chemical industry. The regional markets are expected to witness high demand during the forecast period.
The Latin American and the Middle East & African markets are likely to register moderate growth during the review period as a result of the growing end-use industries in the regions.
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