Acrylonitrile Market is anticipated to grow at a CAGR of 5.8% during 2021-2027
The global acrylonitrile market is projected to reach $14.4 billion by 2027, at a CAGR of 5.8% during 2021-2027. The growth of acrylonitrile market is driven by increasing use of acrylonitrile in various parts of automotive and construction industry for its chemical and thermal properties, and the use of acrylonitrile in manufacturing acrylic fiber and acrylonitrile butadiene styrene.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the acrylonitrile market by end use (automotive, electrical and electronics, packaging, construction, and others), application (acrylic fiber, adiponitrile, styrene acrylonitrile, acrylonitrile butadiene styrene, acrylamide, nitrile butadiene rubber, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the acrylonitrile market?
Q.4 What are some changing demands of customers in the acrylonitrile market?
Q.5 What are the new developments in the acrylonitrile market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this acrylonitrile area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this acrylonitrile market?
Emerging trends, which have a direct impact on the dynamics of the industry, include the dynamics of the industry, is the bio-based acrylonitrile.
Market Segmentation:
Based on end use, the acrylonitrile market is segmented into automotive, electrical and electronics, packaging, construction, and others. The automotive segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to increasing use of acrylonitrile butadiene styrene in manufacturing automotive parts such as instrument panels, pillar trim, dashboard components, door liners and handles, seat backs, seat belt components, etc. to reduce the weight of automotive parts.
Asia Pacific is expected to remain the largest market by value and volume, and it is also expected to witness the highest growth over the forecast period due to the growing demand for infrastructure along with rehabilitation of infrastructure projects due to urbanization and presence of various automotive manufacturer in China and India is also expected to drive the demand for acrylonitrile in this region.
Key Players in the acrylonitrile market are Ineos, Ascend Performance Materials, Asahi Kasei Corporation, Sinopec Group, China National Petroleum Corporation, Sumitomo Chemical Co. Ltd., Bhansali Engineering Polymers Limited, Jiangsu Sierbang Petrochemical Co., Ltd., Taekwang Industrial Co. Ltd., Zhejiang Petrochemical Co., Ltd.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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