Global Acrylonitrile industry Overview

The global Acrylonitrile industry size was valued at USD 12.9 billion in 2020 and is anticipated to register a revenue-based CAGR of 3% from 2021 to 2027.Acrylonitrile is produced through the reaction of propylene with ammonia using the process of ammoxidation. Acrylonitrile is transparent in color and has a pungent odor. Acrylonitrile is generally used as a monomer to make polyacrylonitrile styrene-acrylonitrile, acrylonitrile butadiene styrene, as well as acrylonitrile styrene acrylate.

Several factors are fueling growth in the global Acrylonitrile industry over the forecast period. With a fast-paced rise in the demand for acrylonitrile in different end-user industries such as automotive, packaging, and construction is contributing to sizeable growth noted in the global Acrylonitrile industry. Further, acrylonitrile has a larger scope of application in acrylic fiber, acrylonitrile butadiene styrene, as well as acrylamide, which is expected to drive growth in the market during the review period. Mushrooming demand in the pharmaceuticals and electronics industry is anticipated to push the global Acrylonitrile industry to a great extent.

Market Segmentation

The global Acrylonitrile industry is segmented by MRFR on the basis of application, end-users, and region. Based on application, the global Acrylonitrile industry is segmented into acrylic fiber, styrene-acrylonitrile resin, acrylamide, flocculants, antioxidants, surface active agents, and acrylonitrile butadiene styrene (ABS). Based on end-user, the global Acrylonitrile industry is segmented into electronics, automotive, construction industry, packaging industry, pharmaceuticals, and coatings.

Detailed Regional Analysis

The global Acrylonitrile industry is regionally segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America is sub-segmented into the US and Canada. Europe is further sub-segmented into Germany, Italy, France, U.K., Netherlands, and Rest of Europe. Asia Pacific is studied for the sub-segments of China, India, Japan, and the Rest of Asia Pacific.

Among these, Asia Pacific held the largest share in the global Acrylonitrile industry at the beginning of the forecast period. This growth is attributable to the burgeoning demand for acrylonitrile in several end-user industries such as automotive, construction, and packaging industries. China is expected to spearhead the country-specific market for acrylonitrile in Asia Pacific. Japan and India are anticipated to follow China and capture the second largest and third largest share in the regional Acrylonitrile industry, respectively. Increasing demand from the construction and packaging industry in India, Taiwan, and South Korea have aided Asia Pacific to capture the largest share in the global Acrylonitrile industry.

Europe is anticipated to follow Asia Pacific during the assessment period and garner the second largest share in the global Acrylonitrile industry. North America is expected to be the third largest market for acrylonitrile during the forecast period. On the other hand, Latin America and the Middle East & Africa are also expected to grow at an accelerated rate through the review period. Such growth can be owed to the proliferated applications such as acrylic fiber, acrylonitrile butadiene styrene, styrene-acrylonitrile resin, and acrylamide.

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Key Players

The global Acrylonitrile industry is highly influenced by various strategies undertaken by the prime market vendors across the globe. The report by MRFR has profiled some of these market vendors including 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), and Repsol YPF, S.A. (Europe).

Industry Update

March 2019: INEOS Styrolution exhibited new structures with laser grained surfaces developed in collaboration with Reichle Technologiezentrum GmbH. Apart from this, it also gave a comprehensive overview of its material solutions portfolio for the automotive industry. This will include an overview of Luran S for exterior applications. Luran S, an acrylonitrile styrene acrylate polymer, is an award-winning product which is used for unpainted parts at SUV rear spoilers.

 

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About Market Research Future -

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.

MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

 In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.

 

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