Acrylonitrile Market Future Trends, Revenue Growth, Profitability & Leading Players, Forecast To 2027

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 Radiant Insights, 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.

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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.

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.

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.

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Table of Contents

Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope and assumptions
1.3 List to data sources

Chapter 2 Executive Summary
2.1 Market summary

Chapter 3 Market Variables, Trends & Scope
3.1 Market lineage outlook
3.1.1 Global organic compound market outlook
3.1.2 Global acrylonitrile market outlook
3.2 Market size and growth prospects, 2019 - 2027
3.3 Value chain analysis
3.3.1 Raw material analysis
3.3.2 Vendor Selection Criteria
3.3.3 Sales Channel Analysis
3.3.4 Price trend analysis, 2016 - 2019
3.4 Technological overview
3.5 Trade analysis, 2014 - 2018
3.5.1 Key exporter by volume
3.5.2 Key exporter by value
3.5.3 Key importer by volume
3.5.4 Key importer by value

Continued…

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