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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.
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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.
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Acrylonitrile Market Report Highlights
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Key Market Players | INEOS, Taekwang Industrial Co. Ltd., Koninklijke DSM NV, Solvay, AnQore, Ascend Performance Materials, LUKOIL, Formosa Plastics Corporation, Mitsubishi Chemical Corporation, Sumitomo Chemical Co., Ltd, Asahi Kasei Corporation |
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