Published Date: August, 2017
Acrylonitrile is a colorless liquid that is miscible with water and as toxic fumes used in the manufacture of acrylic fibers and resins, rubber and thermoplastics. Acrylonitrile has the ability of endowing durability, strength and heat resistance which offer its use in automotive, construction and consumer goods industry. 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.
Figure 1: Global Acrylonitrile Market by Value 2015 – 2023
The global acrylonitrile market was sized over USD xx billion in 2015. The global acrylonitrile market is projected to reach USD xx.xx billion by 2023, growing with a CAGR of x.xx% from 2017 to 2023. The global market for acrylonitrile is driven by rapid growth in construction industry primarily. Increasing demand from consumer appliances industry is likely to drive the global acrylonitrile market over the forecast period. Furthermore, rising demand from 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 automotive sector will bring more opportunities to the global acrylonitrile market over the forecast period.
The report segments the global acrylonitrile market by end user and region. The global acrylonitrile market is segmented on the basis of end users as acrylic fibers, acrylonitrile butadiene styrene (ABS), polyacrylamide (PAM), nitrile butadiene rubber (NBR) and others. Acrylonitrile butadiene styrene (ABS) sub-segments dominates the global acrylonitrile market due to rising demand from automotive sector and increasing investment in automotive sector.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023.
Figure 2: Global Acrylonitrile Market by Region
Asia-Pacific is accounted for half of the global production capacity as well as the leader consumption of Acrylonitrile region in the global Acrylonitrile market. The Asia Pacific market region is anticipated to grow at a highest CAGR over the forecast period due to dynamic economic development and increasing demand for electrical and electronic gadgets, house ware appliances and automobiles in India and China. Moreover, 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 presence of pharmaceutical manufacturing industries.
The companies covered in the report include Ineos, Petro China, Asahi Chemicals, Asahi Kasei Corp., Mitsubishi Rayan Co., SINOPEC, Ascend Performance Materials, Formosa Plastics Corp., Taekwang Industrial Co., and Shanghai SECCO Petrochemical Co.,
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of acrylonitrile globally as well as regionally. Moreover, IGR-growth matrix analysis given in the report brings an insight on 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 value chain analysis of acrylonitrile.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the acrylonitrile market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the acrylonitrile market to understand the present and future trends in this market and formulate their strategies accordingly.
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