Acrylonitrile Market To Hit Value $16.5 Billion By 2027 |Grand View Research, Inc.


The global acrylonitrile market size is projected to reach USD 16.5 billion by 2027, expanding at a revenue-based CAGR of 4.3%, according to a new report by Grand View Research, Inc. The increasing demand for acrylonitrile butadiene styrene (ABS) is anticipated to drive growth over the forecast period.

ABS is expected to have strong demand from the automotive, construction, and electronics industries, especially in the developing countries such as China and Brazil. The increasing production of consumer durable electronics in China due to the growing affordability and innovations in the industry are anticipated to propel the demand. ABS offers excellent heat stability and resistance to chemicals making it suitable in the manufacture of electronic devices.

The global market is consolidated in nature, with major companies contributing to a share of over 40%. Some of the major manufacturers include INEOS, Sinopec Group, Sumitomo Chemicals, and Asahi Kasei. These players have a strong geographical presence with large production plants, high investment capacities, and a well-established supply chain. Acrylonitrile manufacturers are mainly competing on product quality and operation cost. Some other acrylonitrile manufacturers include Formosa Plastics Corp, Ascend Performance Materials, and Mitsubishi Chemical Corporation. Global manufacturers are focusing on the development of sustainable production technologies to overcome the health and environment hazards. Market participants who do not have an integration at the raw material supply, also focus on developing long term contracts to maintain a continuous supply.

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Apart from ABS, styrene-acrylonitrile resins manufactured using acrylonitrile and styrene are also
expected to play a key role in fueling the demand for the product. These are used in consumer electronics and automotive manufacturing. These resins are also gaining preference in the pharmaceutical industry due to chemical resistance, dimensional stability, and hygiene and safety benefits.
In spite of the various application of acrylonitrile across major end-use industries, the acrylonitrile market is projected to witness moderate growth over the forecast period. The constant fluctuations in raw material prices, the trade complications of petrochemicals caused by U.S.-China trade war, economic and political disruptions in Iran, and other Middle Eastern countries are likely to hinder the smooth supply of raw materials affecting the production cycle.

Further key findings from the report suggest:
  • ABS application dominated the industry with a volumetric share of over 33.5% in 2019. ABS is highly flexible for use in injection molding, blow molding, as well as extrusion processes. It has superior physical, chemical, and mechanical properties and is cost effective as compared to other resins, which is expected to fuel its production, thus positively affecting the acrylonitrile market over the forecast period
  • Carbon fiber is expected to witness the fastest growth rate of 3.1%, in terms of volume, over the forecast period on account of growing demand for lightweight materials from automotive and aerospace sectors
  • Asia Pacific is the largest and fastest growing market, in terms of revenue, on account of high demand for ABS as a replacement of traditional plastics in the end-use sectors, particularly automotive
  • North America accounted for a volume share of 19.3%, in terms of volume, in 2019. According to the National Council of Textile Organizations, the U.S. textiles industry invested over USD 22.8 billion in new plants and equipment from 2006 to 2017. High focus of the manufacturers on production and export of textiles is expected to fuel the demand for acrylic fiber, thereby fueling the demand for acrylonitrile over the coming years
  • In December 2017, Energy Department’s National Renewable Energy Laboratory (NREL) developed a novel method for the production of renewable acrylonitrile. This method is a hybrid biological-catalytic process and uses hydroxypropionic acid (3-HP) as a raw material.
The acrylonitrile producers and consumers are under high scrutiny in Europe, due to the health and environmental hazards. In October 2019, INEOS announced a potential closure of its ACN manufacturing plant in U.K. due to high investment of Euro 200 million in order to comply with the environmental standards and regulations. Such issues have resulted in a shift in end-user preference for environment compliant or bio-based polymers, thus restraining the regional market.
Commercially, acrylonitrile is produced by the catalytic oxidation of propylene using ammonia as a catalyst. The chemical is a highly volatile organic liquid with a pungent odor. Being a petrochemical derivative, the market is largely affected by the fluctuating oil and gas prices. Acrylonitrile is considered to be extremely toxic for the human health and environment. It is highly reactive with oxidizers, copper, strong acids and bases, and especially with bromine, thus needs to be stored under controlled atmospheres.

Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-acrylonitrile-acn-market

Grand View Research has segmented the global acrylonitrile market on the basis of application:
Acrylonitrile Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
  • Acrylic Fiber
  • Adiponitrile
  • Styrene Acrylonitrile
  • Acrylonitrile Butadiene Styrene
  • Acrylamide
  • Carbon Fiber
  • Nitrile Rubber
  • Others
Acrylonitrile is used in the production of a wide range of thermoplastics and polymers. Some of these include acrylonitrile butadiene styrene (ABS), acrylic fibers, carbon fiber, nitrile rubber, and others. Nitrile rubber is anticipated to witness a significant growth over the forecast period due to its usage in a wide range of end-use industries such as construction, automotive, and consumer goods.
Nitrile rubber is a synthetic rubber compound of acrylonitrile with high resistance to solvents. This makes it suitable for manufacturing of non-latex gloves, automotive transmission belts, adhesives, and binders. The rising demand for these products has resulted in a strong growth of acrylonitrile for the production of nitrile rubber.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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