Global Acrylonitrile (ACN) Market - Growth, Trends and forecasts (2017 - 2022)
The Global acrylonitrile market was valued at USD XX billion in 2014 and is projected to reach USD XX.XX billion by 2020, at a CAGR of 3.5% during the forecast period from 2015 to 2020. Asia-Pacific, with a CAGR of 4.7%, will continue to be the leader in acrylonitrile consumption. European and North American regions are estimated to show a moderate growth. Total production capacity of ACN was estimated to be 6.9 million tonnes. Asia-Pacific accounts for over half of the global production capacity. China and USA have the highest installed capacities.
Acrylonitrile is a commodity petrochemical derived from propylene. It is manufactured by the ammoxidation of propylene. Major uses for acrylonitrile are as a monomer in polyacrylonitrile for acrylic fibers, in acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN) resin manufacture as a modifying monomer, and as a chemical intermediate in the manufacture of adiponitrile and acrylamide.
Acrylonitrile is used in production of acrylic fibers, ABS, SAN and nitrile-butadiene-rubber (NBR). With acrylic fibers are leading with 38% of world acrylonitrile consumption, and ABS/SAN resins accounting for the second-largest end use for acrylonitrile, the market has continued to grow. The majority of ABS/SAN growth has taken place in Asia, driven by the fast-growing electrical appliance and automotive industries as new consumer populations move from agrarian environments to the cities.
Capacity utilization for ACN is expected to grow from 86% at present to 90% by 2020. New capacities are expected to be added in China, Iran and Saudi Arabia in the future. China aims to become self-sufficient and less dependent on import by adding new ACN plants.
The low per capita consumption of acrylonitrile products in developing countries such as India, China and Brazil, along with the growth of end-use industries provides a bright future for global acrylonitrile market.
The industry is expected to face certain challenges such as fluctuation of crude oil prices, product commoditization and saturation in demand for acrylonitrile.
Some of the major players in global acrylonitrile industry are:
Asahi Kasei Corporation
Formosa Plastics Corp
Mitsubishi Chemical Corporation
Sumitomo Chemical Company Limited
Key Deliverables in the Study:
Analysis for global acrylonitrile market with region specific assessments and competition analysis on a global and regional scale.
Market Definition along with identification of key drivers and restraints for the market.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the macro and micro factors that affect the global acrylonitrile market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.