The Increasing demand for acrylonitrile butadiene styrene in the construction and automotive industry is driving the market for Acrylonitrile.
The global Acrylonitrile Market is forecast to reach USD 16.08 Billion by 2028, according to a new report by Reports and Data. Acrylonitrile is the main monomer of synthetic fibers commonly called acrylics, which are defined as a manufactured fiber in which the fiber-forming substance is any long-chain synthetic polymer composed of at least 85% by weight of acrylonitrile units.
The increasing production of carbon fiber is also likely to drive the market demand up. Most of the carbon fibers are made from an organic polymer known as polyacrylonitrile (PAN), which is manufactured using acrylonitrile. Thus, growth in the demand for carbon fiber will boost the demand for the market product. Carbon fiber finds its application in aerospace and defense, wind energy, sports and leisure, and automotive, as they are lighter and stronger in comparison to steel. They are also used in the manufacturing of fishing rods, windsurfing masts and boards and kites, hockey sticks, and bicycle handlebars, which in turn propels market demand.
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Further key findings from the report suggest
An increase in demand from the automotive industry is one of the primary reasons for the growth of the market. Manufacturers in the automotive industry are using composites and plastics in automotive structure, exterior, interior, powertrain, and electrical component as well. This is boosting the demand of the market in the segment.
Direct sales channel is one of the mode of distribution channels in the acrylonitrile market. These channel take the shortest route to the consumer and are sold directly to them. Most of the automotive companies have their own stores, where they sell their own manufactured cars.
Acrylonitrile butadiene styrene is a sturdy engineering thermoplastic and amorphous polymer that is used in the production of lightweight, rigid, and molded products which are used in a diverse set of end-use applications. It is normally used to manufacture protective housing for power tools and plastic face guards for a wall socket.
Key participants include Asahi Chemicals, SINOPEC, Petro China, Formosa Plastics Corporation, Shanghai SECCO Petrochemical Co., Mitsubishi Rayon Co., INEOS, Taekwang Industrial Co., Ascend Performance Materials Operations LLC, and Sumitomo Chemical Co, among others.
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Acrylic Fiber
- Styrene-Acrylonitrile Resin (SAR)
- Acrylonitrile Butadiene Styrene
- Acrylamide
- Others
End-User Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Electrical and Electronics
- Packaging
- Automotive
- Constructions
Distribution Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Direct
- Indirect
- Hybrid
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Acrylonitrile market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Acrylonitrile market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Acrylonitrile market key players
3.2 Global Acrylonitrile size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Acrylonitrile market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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