Many chemical substitutes have entered the chemicals’ market, these help in eradicating hazards related to usage dangerous materials. This indirectly helps boost overall valuation of chemical and materials industry in various ways.
As Nylon 6-6 is light in weight and waterproof in nature it makes it appropriate for swim-wear. Adiponitrile is also used in production of adipic acid which is used in polyurethane applications like auto seating, footwear, thermal insulation amongst others. However adipic acid can be cheaply manufactured by other ways making adiponitrile a weaker option for this segment.
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Almost all the adiponitrile goes into production of Nylon 6-6 fiber and hence requirement of Nylon 6-6 drives the market. As Nylon 6-6 finds wide array of applications in manufacturing and automotive sector, growth of these sectors would fuel the need of adiponitrile. The requirement in this sector is largely dominated by the U.S., followed by developing countries like China and Malaysia.
The requirement of Nylon 6-6 resin grows wider across Europe and the U.S. as a major engineering resin; this would enhance market for adiponitrile. The tyre-cord requirement would continue to grow as the automotive segment seems to grow at steady pace across Asia-pacific countries and developed countries.
This makes the market for adiponitrile even more lucrative. Application for carpets, rugs and clothing fibers which belong to textile sector are likely to continue the growth owing to strengthening in textile industry. This will certainly act as a major driver in the requirement for adiponitrile in near future. However this market faces a stiff price competition due to cut-throat price rivalry and hence the major players in this segment are shifting their production sites to Asia-pacific countries. This has propelled to a large extent demand in China which would even advance further with tyre-cord requirement.
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Some of the key participants in the adiponitrile market include Dupont, Solvay, Rhodia group, Invista,BASF, Lyondellbasell Industries, LG Chem, Ineos, China Petroleum & Chemical Corporation, Braskem, Evonik Industries, The dow chemical company, JSR Corporation, Royal Dutch Shell and Saudi Basic Industries Corporation amongst others.
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