Acrylonitrile Market Lucrative Size, Share, Outlook & Forecast 2018-2023
The Global Acrylonitrile Market is expected to witness a significant growth with CAGR of ~3.95% between 2016 and 2023. Acrylonitrile is a transparent liquid with a slightly pungent odor. Acrylonitrile is manufactured by the reaction of propylene with ammonia in the presence of air this process known as ammoxidation. Usually, acrylonitrile is used for the production of acrylic fiber, acrylonitrile butadiene styrene, styrene-acrylonitrile resin, acrylamide, and others which is further used in daily life, industrial chemicals, automotive, home appliances & electronics, and other various segments.
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Top 10 Key Players
Key players of the global acrylonitrile market are 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.
- Acrylonitrile manufacturers
- Traders and distributors of Acrylonitrile
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
On the other hand, acrylonitrile is a harmful chemical material and regulated as throughout most of the world, also the 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.
Asia Pacific is the largest market of Acrylonitrile due to demand in various end user industry such as automotive, construction and packaging in China region followed by Japan and India. Increasing demand for construction and packaging industry in the India, Taiwan, and South Korea has made Asia Pacific largest consumer of the global acrylonitrile market followed by increasing in the consumption of acrylonitrile market in Europe region. North America stands on third position for global acrylonitrile market. Latin America and Middle East also witnessed in growth of acrylonitrile market due to various application such as acrylic fiber, acrylonitrile butadiene styrene, styrene-acrylonitrile resin, acrylamide, and others.
Study Objectives of Acrylonitrile Market:
- To provide detailed analysis of the market structure along with forecast for the next 7 years of the various segments and sub-segments of the Global Acrylonitrile Market
- To understand the supply and demand dynamics including supply and consumption concentration mapping
- To provide region level market analysis and future outlook for North America, Europe, Asia, and Rest of the World (ROW) and their countries
- To provide competitor positioning of the market
- To provide company profiling of major players in the market along with their production and capacity
- To provide regional trade analysis
- To evaluate historical market trends, patents and technologies, and current government regulatory requirements that are relevant to the market