Asia Pacific Acrylonitrile (ACN) Market - Segmented by End-User Industry, and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The Asia-Pacific acrylonitrile market is expected to witness a moderate growth during the forecast period, 2018 - 2023. The market is driven by the dynamic economic development in the Asia-Pacific region and the rapid growth in the automotive, construction, and consumer appliances industries.
Growth in the Automotive, Construction, and Consumer Appliances Industries
Acrylonitrile provides excellent durability as well as strength and heat resistance properties, owing to which it is used in several end-user industries, such as automotive, construction, plastics, pharmaceuticals, and consumer goods industry. Additionally, acrylonitrile-butadiene-styrene manufactured from acrylonitrile is the major material used for the production of automotive components, such as wheel covers, dashboard trims, bumpers, etc. Furthermore, acrylonitrile is widely used in the industry to produce rubber, resins, plastics, elastomers, and synthetic fibers, and also to manufacture carbon fibers used in aircrafts in the defense & aerospace industry, which is expected to drive the acrylonitrile market over the forecast period.
Growing Usage of Acrylonitrile-butadiene-styrene
Acrylonitrile-butadiene-styrene is a thermoplastic that provides a diverse combination of properties, such as resistance to chemicals, heat, and impact. Due to its superior properties, such as strength and durability at low temperatures, it is majorly used in the automotive and electronics industries. Additionally, the demand for ABS is influenced by the demand for lightweight automobile, as ABS is lightweight in nature. Asia-Pacific, being a hub for the electronics and automotive industries, has a large demand for ABS. Some of the countries, which house the electrical appliances industries in the Asia-Pacific region are South Korea, Japan, and Taiwan.
Major Players: Sumitomo Chemical Company Limited, Mitsubishi Chemical Corporation, BP P.L.C, and Cytec Industries Inc., among others.
Reason to purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To identify the end-user industry that is expected to dominate the market
Countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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