Acrylonitrile Market Exhibits Steady Growth Through 2029
Soaring demand for acrylic fiber for the manufacturing of plastics and composites will drive the demand for acrylonitrile. Manufacturers are aiming at capacity expansion by forging strategic partnerships with raw material vendors. The global acrylonitrile market will grow 1.6X from 2019 to 2029. Being a petrochemical derivative, the acrylonitrile market is highly influenced by changing oil & gas prices. However, advancements in material science and extraction methods will drive the demand for acrylonitrile during the forecast period. Surging automotive production across countries contributes significantly to the demand of acrylonitrile. The chemical is widely used as a raw material for manufacturing parts for the automotive industry.
Acrylonitrile Butadiene to Account for 1/3rd of total Market Value
Acrylonitrile butadiene styrene accounts for a majority share among various applications with over 1/3rd of the total market value. Versatile applications in manufacturing of thermoplastic and polymer based components in industries such as automotive and construction drive demand from this segment. Nitrile rubber holds the second largest share with over 1/4th of the total market value. Properties such as high resistance to solvents make nitrile rubber an ideal raw material for manufacturing non-latex gloves, automotive transmission belts, binders, and adhesives. The nitrile rubber segment will offer the most lucrative growth opportunities through 2029.
East Asia Maintains Hegemony over Global Sales
East Asia exhibits share-wide dominance with over 40% share of the total market revenues. Presence of prominent manufacturers in countries such as China, and Japan are a central factor to this region’s leadership. The fall in propylene prices in developed economies have created a level playing field for manufacturers. Multiplying automotive production on the back of increasing disposable income in South Asia & Oceania countries position the region as the highest growth region during the forecast period. Easy availability of raw material in early adopters such as the US will drive demand in North American countries. Further, increasing investments in oil & gas exploration and infrastructure trickles down to rise in demand for acrylonitrile based products. Omnipresent development trends across countries will increase the demand for high-strength and resilient products manufactured using acrylonitrile as a raw material.
Capacity Expansion to Shape Competitive Landscape
The global acrylonitrile market is consolidated in nature with major manufacturers holding a majority of the market value share. Competition in the acrylonitrile market is driven by strategic investments in countries with abundance of raw material. China is the leading producer of the chemical and home to leading market players. Other Asia Pacific countries such as India are also emerging as high-revenue territories. Energy efficient processes give the competitive advantage to acrylonitrile manufacturers in developed economies. However, availability of raw material in Asian continent also influences the competitive landscape. Major players in the global acrylonitrile market are, but not limited to, INEOS, China Petrochemical Technology Development Co., Ltd., Asahi Kasei Advance Corporation, Ascend Performance Material, Chemelot, Formosa Plastics, Mitsubishi Chemical Corporation, SECCO, Taekwang Industrial Co., Ltd., and Sumitomo Chemical Co., Ltd.
Global Acrylonitrile Market – Scope of the Report
The following report provides forecast and analysis of the global acrylonitrile market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Kilo Tons), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global acrylonitrile market along with several macro-economic indicators. This newly published and insightful report on acrylonitrile sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global acrylonitrile market.
The report also comprises the study of current issues with end users and opportunities for acrylonitrile. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of acrylonitrile manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the acrylonitrile market provided in the report adds to the credibility of this exhaustive research study.
Global Acrylonitrile Market: In-Depth Assessment on Key Segments
The global acrylonitrile market is segmented on the basis of application and region.
|
Application |
Region |
|
Acrylic Fiber |
North America |
|
Adiponitrile |
Latin America |
|
Styrene Acrylonitrile |
Europe |
|
Acrylonitrile Butadiene Styrene |
East Asia |
|
Acrylamide |
South Asia & Oceania |
|
Carbon Fiber |
Middle East & Africa |
|
Nitrile Rubber |
|
|
Others |
|
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for acrylonitrile has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous acrylonitrile manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global acrylonitrile market. Some of the major competitors operating in the acrylonitrile market are INEOS, China Petrochemical Technology Development Co., Ltd., Asahi Kasei Advance Corporation, Ascend Performance Material, Chemelot, Formosa Plastics, Mitsubishi Chemical Corporation, SECCO, Taekwang Industrial Co., Ltd., Sumitomo Chemical Co., Ltd. and others.
Global Acrylonitrile Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the acrylonitrile market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the acrylonitrile market, which includes global GDP growth rate, various sector growth rate such as chemical & material, oil & gas and others. This report serves as an authentic resource of intelligence on the acrylonitrile market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Acrylonitrile Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029