Global Acrylonitrile Market - Segmented by End-user Industry and Geography - Growth, Trends, and Forecast (2018 - 2023)
The acrylonitrile market is expected to register a moderate growth rate during 2018-2023 (the forecast period). Asia-Pacific is likely to lead the market owing to the rapidly growing construction industry in the region.
Acrylonitrile is a commodity petrochemical that is derived from propylene. It is manufactured by the ammoxidation of propylene. Acrylonitrile finds application in polyacrylonitrile for acrylic fibers in ABS (acrylonitrile butadiene styrene) and SAN (styrene acrylonitrile) resin manufacture as a modifying monomer, moreover, as a chemical intermediate in the manufacture of adiponitrile and acrylamide.
Growing Demand in Different End-user Industries
Acrylonitrile offers excellent durability, 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. Additionally, it is also used in the production of homopolymers and other various copolymers, such as styrene acrylonitrile, acrylonitrile styrene acrylate, acrylonitrile butadiene styrene and synthetic rubbers, polyacrylonitrile, acrylamide, and acrylic acid. Acrylonitrile is widely used in the industry to produce rubber, resins, plastics, elastomers, and synthetic fibers, and manufacture carbon fibers used in aircraft, defense, and aerospace industries.
The growing demand for lightweight automobiles, owing to their better fuel efficiency, and ABS resins in 3D printing is expected to increase the product’s application scope.
Asia-Pacific to Lead the Market
Asia-Pacific holds the major share of the consumption pattern of ACN. Europe and North America are expected to witness moderate growth rates. Moreover, Asia-Pacific accounts for over half of the global production capacity, whereas countries, like China and the United States, have the highest installed capacities.
The growing demand in Asia-Pacific for electronic gadgets, house ware appliances, and the ease in availability of petrochemical feedstock as a raw material for the manufacturing of ACN are offering positive growth prospects for the acrylonitrile market. In Asia-Pacific, the growing construction industry is expected to push the growth of the can market.
February 2018: European acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN) market players expected a stable growth but potentially volatile pricing for 2018, with raw materials set to continue influencing prices throughout the year.
Major Players: INEOS, Sinopec Shanghai Petrochemical Company Limited, Ascend Performance Materials, Formosa Plastics Corp, Mitsubishi Chemical Corporation, and Reliance Industries Limited, among others.
Reasons to Purchase this Report
The impact of end-user applications on the market
Various perspectives of the market with the help of Porter’s five forces analysis
The dominating technology in the market
Countries expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)
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