The ChemAnalyst report titled “Global Acrylonitrile Market Analysis: Plant Capacity, Production, Process Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035″ indicates that the Acrylonitrile market has witnessed consistent growth in historical years and is projected to reach a market volume of 11 million tonnes with a CAGR of 4.77% until 2035.
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Acrylonitrile, with the chemical formula CH2CHCN, is an organic compound created through the ammoxidation process involving high-temperature reactions between propylene, ammonia, and air in the presence of a catalyst. The resulting derivatives, including acrylonitrile butadiene styrene (ABS), acrylic fiber, acrylamide, carbon fiber, and nitrile rubber, find applications in the construction sector. The demand for Acrylonitrile is expected to grow due to the desirable qualities of plastics produced with this substance, such as chemical resistance, durability, strength, and thermal resistance.
The primary driver of the global Acrylonitrile market is its usage in synthesizing ABS, extensively employed in the electronics and automotive industries for its exceptional qualities such as strength and endurance at low temperatures. The consumer appliances market is also witnessing increased use of ABS resins. The segment’s growth is further supported by rising demand for nitrile rubber used in non-latex gloves, auto gearbox belts, sealants, and bindings. However, the textile industry has seen a decline in the use of acrylic fiber, with polyester fiber replacing it due to cost considerations.
The automotive sector plays a crucial role in driving the Acrylonitrile market, with the increasing demand for light vehicles for transportation of goods and personal vehicles. Growing patient safety concerns and awareness of substitutes for traditional rubber materials in the production of medical devices, particularly surgical gloves, contribute to the global Acrylonitrile market.
The global Acrylonitrile market is segmented based on end-use, sales channel, and region. In terms of end-user industry, ABS dominates the market, accounting for approximately 42% in 2022. ABS is widely used in the construction, consumer products, technology, automobile, and consumer goods sectors due to its durability, corrosion resistance, and excellent mechanical strength.
Regionally, Asia Pacific leads the Acrylonitrile market, holding a market share of approximately 66% in 2022, followed by Europe. The growth is driven by the rapidly growing population in developing countries, coupled with increased demand for plastics in the construction sector and the growing usage of acrylic fiber in India’s textile industry. Europe is expected to witness an expansion in demand, driven by the automotive industry’s efforts to produce energy-efficient cars.
Major players in the global Acrylonitrile market include Ineos Nitriles, Jiangsu Sailboat (Sierbang) Petrochemical Corp. Ltd. (Shenghong Holding Group), Ascend Performance Materials, Asahi Kasei Chemicals, AnQore (DSM Acrylonitrile), Cornerstone Chemical Company (Cytec Industries), PetroChina Company Ltd. (CNPC) (China National Petroleum Corp.), Shanghai SECCO Petrochemical Company, Sinopec Group (CPCC) (China Petroleum & Chemical Corp.), Tong Suh Petrochemical Corp., Ltd. (Asahi Kasei Chemicals), Saudi Japanese Acrylonitrile Company (Shrouq), and others.
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Mr. Karan Chechi, Research Director with TechSci Research, emphasized, “Acrylonitrile is a versatile synthetic rubber with properties like flexibility, strength, and durability, used in various downstream industries. It serves as an essential feedstock for manufacturing products like ABS, Acrylic Fiber, and Acrylamide. The high demand for ABS, driven by its versatile properties, contributes significantly to the Acrylonitrile market. Additionally, the growing demand for acrylic fiber in the textile industry is a notable factor supporting the Acrylonitrile market.”
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