Global Acrylonitrile Market Overview:
Acrylonitrile is a type of raw material used in the acrylic fiber and ABS plastic. The leading market players such as CPDC are developing field-leading technology for production, this makes them strengthen their position in the market. Basically, it is a clear and colorless liquid with a slightly pungent odor. In the current market situation, the demand is increasing with various applications in healthcare and food. As its major raw material supply comes from China region, but after this COVID-19 pandemic the major effect on the supply-demand dynamics. Its major area of production is the European Union, the United States, and Japan. Some of the players profiled in the study are Ineos (United Kingdom), Asahi Kasei (Japan), China National Petroleum Corporation (CNPC) (China), Ascend Performance Materials (United States), Sinopec Group (China), Formosa Plastics (Taiwan), DSM (Netherlands), Tae Kwang Industrial (Korea), CPDC (Taiwan), Solvay S.A. (Cytec Industries) (Belgium), Mitsubishi Rayon (Japan), LUKOIL (Russia) and Repsol YPF (Spain).
On the basis of geography, the market of Acrylonitrile has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Automotive Industry will boost the Acrylonitrile market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging, the sub-segment i.e. Drum will boost the Acrylonitrile market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. Industrial Grade will boost the Acrylonitrile market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Development in the European Plastics Industry Including Plastics Raw Material Providers, Plastic Converters, and Others
- Growing Demand for the Automotive and Healthcare Industry
- Rising Demand for the Acrylic Fibers from Fashion Industry
Influencing Trend
- The Major Share of Acrylonitrile in Canada is Utilized for the Feedstock or Chemical Aid in the Production of Nitrilebutadiene Rubber
Restraints
- It Required Storage Condition with Complete Absence of Oxygen, Heat, Pressure, and Exposure to UV Light. To Arrange this Kind Storage, it Required Huge Cost in its Storage and Maintenance
Opportunities
- Increase Investment in Research and Development Initiatives
- Development in Chemical Industry
Challenges
- Stringent Government Regulations from Various Region for this Hazardous Chemical
Key Market Developments:
In Jun 2020, TechnipFMC announced a joint venture with Clariant Catalysts for the production acrylonitrile. This collaboration brings established expertise in fluid bed technologies and process development with the help of Clariant’s longstanding experience. Through this initiative, TechnipFMC enhanced its market position.
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is a various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Target Audience:
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Acrylonitrile Manufacturers, Suppliers, and Distributors, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Acrylonitrile market on the basis of product [
] , application [Acrylic Fiber {Clothing Fabric, Blankets, Carpets, Wool, Sweaters, and Others}, ABS Plastic {Computer Cases, Automotive Wheel Caps, High-Intensity Tools, Home Appliances, and Others}, NBR Rubber, Acrylamide {Water Treatment Agent, Plastic Additives, Leather & Metal Coating, and Others} and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Acrylonitrile market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Acrylonitrile industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are AnQore (The Netherlands), Cornerstone (United States) and Secco (China).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Acrylonitrile market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.