Allied Market Research

2024

Acrylonitrile Market

Acrylonitrile Market Size, Share, Competitive Landscape and Trend Analysis Report by Application and by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Renewable, Speciality and fine chemicals

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Author's: | Eswara Prasad
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Acrylonitrile is a colorless volatile organic liquid having a strong pungent smell. The acrylonitrile molecule consists of a vinyl group combined with a nitrile. Acrylonitrile is manufactured by ammoxidation process where propylene, ammonia, and air are made to react at high temperature using a catalyst. Acrylonitrile is used as a chemical intermediate in manufacturing a wide range of chemicals including acrylonitrile butadiene styrene, acrylic fibers, acrylamide, nitrile rubber, adiponitrile, carbon fibers, and others. Because of the superior properties such as chemical,thermal stability,high mechanical strength and durability, acrylonitrile and its compounds are extensively used in automotive and construction industries. Acrylic fibers also have a wide range of applications in the textile and packaging industry.

COVID-19 scenario analysis:

  • The outbreak of the COVID-19 pandemic has severely affected the global acrylonitrile market.
  • As a result of the global economic slowdown caused by the pandemic, the demand for automobiles has decreased drastically across the globe. This fall in demand for automobiles has directly affected the growth of the acrylonitrile market.
  • On the other hand, the construction industry was severely affected by the pandemic as most of the major construction projects were stopped as lockdowns were implemented by the governmentof different nations. As a result, the demand for acrylonitrile in the construction industry decreased significantly thereby affecting the market growth.
  • China is a major region for the acrylonitrile market. However, the complete shutdown of the country since the outbreak of the COVID-19 pandemic has severely hampered the global acrylonitrile market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

One of the major factors driving the growth of the acrylonitrile market is it extensive use in the construction industry for making headliners, interior grills, center consoles, and others. The rapid expansion of the construction industry has propelled the demand for acrylonitrile. Acrylonitrile is an important monomer that is widely incorporated during the manufacturing of plastics such as polyacrylonitrile, acrylonitrile styrene acrylate, and other synthetic rubbers. It has a wide range of applications in the electrical and electronics industries among which production of body parts of different electronics gadgets is the prime application. Moreover, acrylonitrile also finds its applications in the automotive manufacturing sector during the production of important components like seatbelts, instrument panel, dashboard, and others. The increase in use of polyacrylonitrile and other plastics during the production of automobiles helps to reduce the weight and increase the efficiency. These are the major factors that boost the market growth during the forecast period. However, the fluctuating prices of raw materials and the effects of the acrylonitrile compounds on the environment along with high toxicity and flammabilitylimit the market growth.

The market in the Asia-Pacific region holds a significant share of the global acrylonitrile market due to rapid expansion in the automotive and construction industries in the developing economies of the region. The market in the North America region is also expected to witness a lucrative growth owing to increase in demand for lightweight materials in the transportation sector. The acrylonitrile market in Europe is also expected to grow at a steady pace due to its high demand in the large automotive industry especially in the manufacturing of heavy load vehicles of the region.

Key benefits of the report:

  • This study presents the analytical depiction of the global acrylonitrile industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global acrylonitrile market share.
  • The current market is quantitatively analyzed to highlight the global acrylonitrile market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global acrylonitrile market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Acrylonitrile Market research report:

  • What are the leading market players active in the acrylonitrilemarket?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Acrylonitrile Market Report Highlights

Aspects Details
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By Application
  • Acrylic Fiber
  • Acrylonitrile Butadiene Styrene
  • Styrene-Acrylonitrile Resin
  • Acrylamide
  • Others
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By Industry Vertical
  • Automotive
  • Electronics and Electrical
  • Construction
  • Packaging
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

LUKOIL, Mitsubishi Chemical Corporation, Koninklijke DSM NV, Taekwang Industrial Co. Ltd., Sumitomo Chemical Co., Ltd, Formosa Plastics Corporation, Asahi Kasei Corporation, Ascend Performance Materials, Solvay, AnQore, INEOS

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Acrylonitrile Market

Global Opportunity Analysis and Industry Forecast, 2023-2032