Adiponitrile Price Trend and Forecast

Adiponitrile Regional Price Overview

Get the latest insights on price movement and trend analysis of Adiponitrile in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Adiponitrile Price Trend for the Q1 of 2024

Asia

The adiponitrile market closely resembles its feedstock acrylonitrile, and so do its prices. During the first quarter of 2024, the beginning phase registered a swift decline in prices as the major downstream industries limited their consumption rates. Additionally, the traders were also dealing with carryover inventories, creating distress and oversupply in the market. However, as the quarter progressed, the production volumes of the commodity slowed down amid limited procurement of feedstock chemicals and a tight supply of crude oil from the Middle East.
 

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The geopolitical tensions and problems with the sea routes further constricted the supply chains and supported the upward momentum of adiponitrile prices.

Europe

The weak trading activities in the European countries, along with the decline in the cost of raw materials, exerted a negative influence on the market of adiponitrile during the initial phase of the first quarter of 2024. Additionally, the sluggish sentiments of the agrochemicals industries and the surplus of supplies of adiponitrile also limited the growth momentum of the adiponitrile market. Further, in the mid-quarter, the production activities were severely affected by the elevated cost of energy production and delays in supplies from the US due to Suez Canal issues.

On the same line, the demand from the automotive industries and downstream rubber market improved, giving the adiponitrile prices its required momentum. Further, the loss of skilled labor and strikes at European ports widened the supply-demand gap, favoring the revival of adiponitrile prices.

North America

In the US, the market drives of the adiponitrile market showed continuous support, on the basis of which the prices registered northward movement. During the early phase of the quarter, the restocking after the New Year holidays and increased import costs amid a surge in US freight charges forced the traders to increase their price quotations of adiponitrile. Further, during the mid-phase, the downstream industries and expansion of construction activities supported the uptrend in the adiponitrile market and its prices.

Analyst Insight

According to Procurement Resource, the price trend of Adiponitrile is expected to be driven by the surging demand from the downstream industries and escalating cost of production.

Procurement Resource provides latest prices of Adiponitrile. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.