Specialty Nitriles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Specialty Nitriles Market Analysis
The market for specialty nitriles is expected to grow at a CAGR of more than 4% globally during the forecast period. Nitriles are organic compounds having a triple bond between carbon and nitrogen. They are also known as cyanides. The most commonly occurring nitrile is nitrile rubber which is a synthetic copolymer of unsaturated acrylonitrile and conjugated butadiene. Such a form of rubber is highly resistant to chemicals. Owing to the versatile and favorable chemical properties of specialty nitriles, its application in adhesives, pharmaceuticals and automotive is growing exponentially, consequently propelling the market growth.
However, the health hazards due to cyanide poisoning results from inhaling cyanides or ingesting cyanides are likely to hinder the growth of the studied market. Moreover, unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.
Achieving a wide diversity of amides and organic acid from the enzymatic hydrolysis of nitriles are likely to provide opportunities for the specialty nitriles market over the next five years.
Asia-Pacific region dominates the specialty nitriles market, owing to the soaring consumption of specialty nitriles in adhesive, pharmaceutical and automotive segment from countries, such as China, India and Vietnam.
Specialty Nitriles Market Trends
This section covers the major market trends shaping the Specialty Nitriles Market according to our research experts:
Automotive Components to Dominate the Market
- Automotive components stands to be the dominating segment, where its requirement is widely driven by the growing need for lightweight, high fuel efficiency and low emission vehicles.
- Increasing application of nitrile rubber in the pipelines, hoses, tubes, conveyor belts, shoes, seals and glues, etc. and rising utilization in adhesive and automotive are expected to provide thrust to specialty nitriles market.
- Initiatives under Clean Energy Ministerial (CEM) like electric vehicle initiative and the growing popularity of electric vehicles is likely to increase the consumption of specialty nitrile in the automotive industry.
- Since 2018 automotive industry experience a decline in production in countries like United States of America, China, and Germany, etc. owing to which consumption of specialty nitrile is anticipated to drop. However, from 2021 the automotive industry is likely to regain production which is expected to increase the demand from automotive applications during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region stands to be the largest and fastest-growing market for specialty nitriles. Factors, such as increasing utilization in pharmaceutical, adhesives and automotive segment is likely to drive the market growth.
- Nitrile containing compounds widely used in therapeutic drugs as specialty nitrile can alter the physicochemical and pharmacokinetic properties to improve bioavailability, enhance the selectivity and binding affinity to target proteins by hydrogen bond interactions. Hence with increasing consumption of therapeutic drugs; the demand for specialty nitrile has been increasing in the pharmaceutical industry.
- Beneficial attributes of specialty nitriles like good resistance to oil, heat, ozone, chemicals give it a secure position in the automobile, adhesives and electronics industry.
- Asia-Pacific region is considered to be the base for electrical & electronics manufacturing across the globe. Countries like China, India, Japan, South Korea, and Vietnam contribute most to the electronic components manufacturing in the region.
- Due to its property of sturdiness, it is extensively used in protective gloves used in chemistry laboratories to resist the effect of the chemicals and stringent regulations regarding industrial protective gears, has propel the demand for gloves consequently driving the market growth.
- Asia-Pacific is the fastest-growing region for protective gloves due to the high production and usage of protective gloves in the healthcare, manufacturing, food & beverage, construction, and transportation industries.
- Hence, all such market trends are expected to drive the demand for specialty nitriles market in the region during the forecast period.
Specialty Nitriles Industry Overview
The global specialty nitriles market is consolidated in nature with a few major players dominating a significant share of the market demand. Some of the major companies are Ascend Performance Materials, INEOS Group, AlzChem Group AG, Parchem fine & specialty chemicals and Zeon Chemicals L.P. amongst others.
Specialty Nitriles Market Leaders
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Ascend Performance Materials
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INEOS Group
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AlzChem Group AG
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Parchem fine & specialty chemicals
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Zeon Chemicals L.P.
*Disclaimer: Major Players sorted in no particular order
Specialty Nitriles Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Applications in Automotive Industry
- 4.1.2 Others Drivers
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4.2 Restraints
- 4.2.1 Health Hazard related to Nitrile Fumes
- 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Manufacturing Process
- 5.1.1 Ammoxidation
- 5.1.2 Hydrocyanation
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5.2 Types
- 5.2.1 Nitrile Butadiene Rubber
- 5.2.2 Hydrogenated Nitrile Butadiene Rubber
- 5.2.3 Others
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5.3 Application
- 5.3.1 Protective Gloves
- 5.3.2 Automotive Components
- 5.3.3 Electronic Components
- 5.3.4 Adhesives & Sealants
- 5.3.5 Oilfield Applications
- 5.3.6 Others
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AlzChem Group AG
- 6.4.2 Ascend Performance Materials
- 6.4.3 Denicso
- 6.4.4 Duraco
- 6.4.5 Emerald Performance Materials
- 6.4.6 INEOS
- 6.4.7 Marco Rubber & Plastics, LLC.
- 6.4.8 Parchem fine & specialty chemicals
- 6.4.9 Speciality Tapes
- 6.4.10 TIDI Products, LLC.
- 6.4.11 Zeon Chemicals L.P.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Synthesis of Amides and Organic Acid from Nitriles
- 7.2 Other Opportunities
Specialty Nitriles Industry Segmentation
The specialty nitriles market report includes:
| Manufacturing Process | Ammoxidation | |
| Hydrocyanation | ||
| Types | Nitrile Butadiene Rubber | |
| Hydrogenated Nitrile Butadiene Rubber | ||
| Others | ||
| Application | Protective Gloves | |
| Automotive Components | ||
| Electronic Components | ||
| Adhesives & Sealants | ||
| Oilfield Applications | ||
| Others | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Specialty Nitriles Market Research FAQs
What is the current Specialty Nitriles Market size?
The Specialty Nitriles Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Specialty Nitriles Market?
Ascend Performance Materials, INEOS Group, AlzChem Group AG, Parchem fine & specialty chemicals and Zeon Chemicals L.P. are the major companies operating in the Specialty Nitriles Market.
Which is the fastest growing region in Specialty Nitriles Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Specialty Nitriles Market?
In 2024, the Asia Pacific accounts for the largest market share in Specialty Nitriles Market.
What years does this Specialty Nitriles Market cover?
The report covers the Specialty Nitriles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Specialty Nitriles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Specialty Nitriles Industry Report
Statistics for the 2024 Specialty Nitriles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Specialty Nitriles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
