Acrylonitrile Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Key Players:
Market Research Future (MRFR) recognizes the following companies as
the key players in the global Acrylonitrile market: Cytec Solvay Group (US),
AnQore (Netherlands), INEOS Capital Limited (UK), Lukoil Company (Russia),
Taekwang Industrial Co. ltd. (South Korea), Mitsubishi Chemical Corporation
(Japan), Formosa Plastics Group (Taiwan), Shanghai SECCO Petrochemical Company
(China), Sumitomo Chemical Company Limited (Japan), Repsol YPF, S.A. (Europe),
and Others.
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Commenting on this report, an analyst from
Market Research Future (MRFR)'s team said, "Global Acrylonitrile market
size is expected to grow at ~3.95% CAGR by 2023. The market witnessed a
significant growth over the forecasted period owing to growing applications
such as into acrylic fiber, acrylonitrile butadiene styrene,
styrene-acrylonitrile resin, acrylamide, and others across various industries.
In addition, the increasing demand from the automotive and
construction industry is expected to fuel market growth of acrylonitriles in
near future. Health issues in manufacturing of of acrylonitriles are expected
to hamper the production growth of acrylonitriles. Instability in prices of raw
materials such as polypropylene and changing preference of users towards
organic chemicals is expected to hamper the global acrylonitrile market growth
in the forecast period.
Segments:
The global acrylonitrile market has been segmented into application
and end use industries. On the basis of application, the market has been
divided into acrylic fiber, acrylonitrile butadiene styrene,
styrene-acrylonitrile resin, acrylamide, and others. Among these applications,
acrylic fiber has coverd the largest market followed by acrylonitrile butadiene
styrene, styrene-acrylonitrile resin and acrylamide. Geographically,
Asia-Pacific is anticipated to be the largest market in terms of value and volume
followed by Europe and North America.
Firstly, from the end use industries, the global acrylonitrile
market has been divided into automotive, electronics industry, construction
industry, packaging industry, and others. Among the end use industries, automotive
and construction industry have acquired the largest market share owing to its
increasing demand from the growing economies, especially from China, India and
Japan. Acrylonitrile has application in automotive industry for manufacturing
interiors and exterior parts such as suspension bushing, panels, handles and
bumpers and others. In industrial sector acrylonitrile used as raw materials
for synthetic fibers, fiber processing resins and others. Also in home
appliances & electronics sector acrylonitrile used in refrigerators,
washing machines, air conditioners, TVs, PCs, DVD/HDD recorders, and others.
The growing demand from these end use industries have augmented the market for
acrylonitrile which will further have a positive impact during the forecast period.
The study was conducted using an objective combination of primary
and secondary information including inputs from key participants in the
industry. The report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of key vendors.
Regions:
Acrylonitrile Market is
classified on the basis of mixed geographic segmentation which involves regions
such as America, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia
Pacific acrylonitrile market is largest market owing to robust industry growth
of application industry in China, Japan and India. Asia Pacific acrylonitrile
market size is likely to witness highest gains over the forecast period.
Positive stance on end-use industries such as automotive, electronics industry,
construction industry, packaging industry, and others in countries like China,
India and Japan is predict to drive demand. Above all China is major dominating
country owing to large scale production of end user industries such as
automotive and construction industry. In China acrylonitrile is mainly used in
production of acrylic fibers and acrylonitrile butadiene styrene (ABS) which is
extensively applied in manufacturing of pipes, plastic sheets, fittings, and
others. Growing construction industry in developing country including China and
India due to rise in per capital income is one of the the key factor for
acrylonitrile market growth.
Whereas, according to current market situation in 2017,
acrylonitrile prices down in APAC markets on low demand. Supply of
acrylonitrile in APAC region is anticipated to constrict but regional prices
may be weighed down by recent decrease in China's domestic market. Also the competition
between buyers and suppliers have been hindering transactions in the APAC
acrylonitrile market.
Europe region stands on second position for global acrylonitrile
market. Major drivers of acrylonitrile market in terms of end user industry of
this region are automotive, construction, household appliances and electronics
sector. Whereas due to constrict global supply of raw materials, it is found
that European acrylonitrile prices have risen approx 48% since the beginning of
the year 2017.
The third largest market of acrylonitrile is North America in growth
of acrylonitrile market due to various application such as witnessed in growth
of acrylonitrile market due to various application such as acrylic fiber,
acrylonitrile butadiene styrene (ABS), styrene-acrylonitrile resin, acrylamide,
and others (intermediates for flocculants, antioxidants, surface active
agents). Latin America and Middle East also witnessed in growth of
acrylonitrile market due to various end user industry such as automotive,
electronics industry, construction industry, packaging industry, and others
(pharmaceuticals and coatings)
Intended Audience
Acrylonitrile manufacturers
Traders and distributors of acrylonitrile
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Bargaining Power Of Suppliers
4.1.4 Threat Of Substitutes
4.1.5 Segment Rivalry
4.2 Value Chain/Supply Chain Of The Global Acrylonitrile Market
5 Industry Overview Of The Global Acrylonitrile Market
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