A recent report published by Infinium Global Research on acrylonitrile market provides in-depth analysis of segments and sub-segments in the global as well as regional acrylonitrile market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional acrylonitrile market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global acrylonitrile market. According to the report, the global acrylonitrile market is projected to grow at a CAGR of 3.2% over the forecast period of 2019-2025.
Acrylonitrile is a colorless liquid that is miscible with water and has toxic fumes. Acrylonitrile is an organic compound produced through the ammonia catalysis of propylene. This compound is used to manufacture acrylic fibers, which are further processed and used to produce sweaters, socks, and hats. It is used in the manufacturing of acrylic fibers and resins, rubber and thermoplastics. Acrylonitrile has the ability to endow durability, strength, and heat resistance, which offers its use in automotive, construction and consumer goods industry.
The global market for acrylonitrile is driven by rapid growth in the construction industry primarily. The global construction market driven by China, the US and India are projected to grow to USD 8 trillion by 2030. The increasing demand from consumer appliances industry is likely to drive the global acrylonitrile market over the forecast period. Furthermore, rising demand from the automotive industry in applications of acrylonitrile such as acrylonitrile butadiene styrene (ABS) and synthetic rubbers are anticipated to drive the growth of this market. However, use of low priced polyester fibers in replacement of acrylic fibers in the textile industry and feedstock shortage due to the growth in the shale gas production are the prime restraining factors to the growth of global acrylonitrile market. Nevertheless, rising demand for wastewater treatment and low per capita consumption of acrylonitrile products, as well as more investment in the automotive sector will bring more opportunities to the global acrylonitrile market over the forecast period.
Among the regions, Asia-Pacific accounted for half of the global production capacity as well as the leader in the consumption of acrylonitrile in the global acrylonitrile market. Asia Pacific region is anticipated to grow at the highest CAGR over the forecast period due to dynamic economic development and increasing demand for electrical and electronic gadgets, home appliances, and automobiles in India and China. Furthermore, the growth in the construction sector in emerging markets such as India is growing at almost twice as fast as China. Moreover, the durable manufacturing base of electronics in China, Korea, Taiwan, and Japan is likely to drive the demand and is expected to bring new opportunities for acrylonitrile manufacturers in the Asia Pacific region. Furthermore, following Asia Pacific region, Europe is anticipated to grow significantly due to a growth in automobile manufacturing. However, North America is also anticipated to grow significantly due to the presence of pharmaceutical manufacturing industries.
The report on global acrylonitrile market covers segments such as applications, and end user. On the basis of applications, the sub-markets include acrylic fibres, acrylonitrile butadiene styrene (ABS), polyacrylamide (PAM), nitrile butadiene rubber (NBR), and other applications. On the basis of end user, the sub-markets include aerospace and defense, automotive, construction, and other end-users.
The report provides profiles of the companies in the market such as INEOS, PetroChina Company Limited, Asahi Kasei Corporation, Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co., Ltd., China Petroleum & Chemical Corporation, Shanghai SECCO Petrochemical Co. Ltd, Taekwang Industrial Co., Ltd., Formosa Plastics Corporation, Ascend Performance Materials Operations LLC, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of acrylonitrile market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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