Acrylonitrile Market growth: Industry Trends, Share, Opportunity and Forecast 2022-2030
Global Acrylonitrile market growth is expected to grow at ~3.95% CAGR during 2016-2023
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 Growth 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.
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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 growth 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
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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