This report provides exclusive insights into the COVID-19 impact on the Acrylonitrile Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Acrylonitrile Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Acrylonitrile Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
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.