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The Increase in Demand for Bio-based Polymers Market trends Of Acrylonitrile Market 2017-2021

Press Release   •   Jun 12, 2017 08:57 EDT

This industry research report identifies Asahi Kasei, China Petrochemical Corporation (Sinopec Group), Formosa Plastics, INEOS, and Sumitomo Chemical as the key vendors in the global acrylonitrile market. This industry research report also presents a competitive analysis of the market by end-user (acrylic fibers, ABS and SAN, PAM, and NBR) and by geography (APAC, Europe, North America, and ROW).

Overview of the global acrylonitrile market

Market research analysts at Technavio predict that the global acrylonitrile market will grow steadily at a CAGR of over 3% by 2021. This market research analysis identifies the increasing demand from the packaging industry as one of the primary growth factors for this market. With the need to ensure protection during transportation, produce standard units during transportation, and to enable chemical resistance to bases, acids, and other corrosive compounds, packaging is highly-preferred by several industries especially the electronic appliance sector. Owing to the protective property, high chemical strength, and resistance to bases, acids, and other corrosive compounds, acrylonitrile products are highly preferred for packaging in the electronic appliance and the food and beverage industries. Additionally, acrylonitrile products also offer single layer oxygen barricades in all packaging materials. As a result, there will be an increased usage of acrylonitrile products such as acrylonitrile methylacrylate in packaging applications such as bottles for chemicals, personal care, cosmetic products, hygiene products, and medical and pharmaceutical products.

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The increase in demand for bio-based polymers is one of the major trends that will gain traction in the acrylonitrile market in the coming years. With the growing environmental concerns about the use of synthetic plastic that is mostly derived from petroleum, there is an increased need to develop eco-friendly plastics for consumers. This will increase the demand for bio-based products and manufacturers will start focusing on producing bio-based ABS to reduce the dependence on petroleum-based ABS.

Competitive landscape and key vendors

The acrylonitrile market appears to be highly fragmented due to the presence of several large and small scale vendors. Vendors in this market compete based on factors such as innovation, price, operational cost, and product quality. To survive in this competitive market, acrylonitrile manufacturers are following several strategies including restructuring their activities, capacity shutdowns, geographic or product expansion reconsiderations, and corporate reshuffling.

The leading vendors in the market are -

Asahi Kasei

China Petrochemical Corporation (Sinopec Group)

Formosa Plastics

INEOS

Sumitomo Chemical

The other prominent vendors in the market include Ascend Performance Materials, Cytec Solvay Group, LUKOIL, and Mitsubishi Rayon.

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Segmentation by product type and analysis of the acrylonitrile market

Acrylic fibers

Acrylonitrile Butadiene Styrene and Styrene Acrylonitrile (ABS and SAN)

Polyacrylamide (PAM)

Nitrile Butadiene Rubber (NBR)

During 2016, the acrylic fibers segment accounted for the major shares of the acrylonitrile market. The resistance of acrylic fibers towards UV rays that prevent the deterioration of clothes from sunlight exposure will contribute to the growth of this market segment in the coming years. Additionally, advantages of these fibers such as lightweight, durability, minimal maintenance costs, and higher resistance to insect, oil, and chemical attacks, will also boost the growth of this market segment.

Geographical segmentation and analysis of the acrylonitrile market

APAC

Europe

North America

ROW

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. Technological advancements in this region that enable the substitution of traditional packaging materials such as paper, metal, cardboard, and glass with acrylonitrile-based packaging, will be the major factor fueling the growth prospects of the acrylonitrile market in this region.

Key questions answered in the report include

What will the market size and the growth rate be in 2021?

What are the key factors driving the global acrylonitrile market?

What are the key market trends impacting the growth of the global acrylonitrile market?

What are the challenges to market growth?

Who are the key vendors in the global acrylonitrile market?

What are the market opportunities and threats faced by the vendors in the global acrylonitrile market?

Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.

What are the key outcomes of the five forces analysis of the global acrylonitrile market?

Technavio also offers customization on reports based on specific client requirement.

An organic compound produced through the ammonia catalysis of propylene is known as acrylonitrile. This compound is used to manufacture acrylic fibers, which is then processed to produce clothes such as sweaters, hats, socks and sports gloves. This upcoming industry research report on the global acrylonitrile market offers insights into the key trends and emerging drivers inducing the growth of the chemicals and materials industry. Our market research reports for the chemicals and materials industry follow a reliable data collection methodology and offer an analysis of fast growing market segments like specialty chemicals.

This upcoming market research report on the global acrylonitrile market also covers vendors like Formosa Plastics Corp, Ineos, Asahi Chemicals, Petro China, and Mitsubishi Rayon Co. By considering the market forecast and size, surging demand for various specialty chemicals, the market research professionals at Technavio offer a realistic picture of the global acrylonitrile market for the projected period of 2017 to 2021. Moreover, our research practices assist clients in developing operative growth strategies and keeping pace with the constantly changing market landscape. This market study also offers a complete analysis based on the interpretation of the information assembled from specific resources such as channel partners and market stakeholders.

To offer clients the opportunity to classify potential market prospects and expand in niche markets, this report on the global acrylonitrile market also covers geographies like APAC, ROW, North America, and Europe. This upcoming industry report on the global acrylonitrile market also considers the growth of the similar specialty chemicals markets such as the asphalt additives, which is expected to grow at a CAGR of close to 7% for the forecasted period 2017-2021. According to our market specialists, benefits such as its heat resistance properties and thermal stability is expected to influence its demand across various industries.

The upcoming market research report for the global acrylonitrile market also classifies the key drivers, major trends, as well as the limitations that the specialty chemicals sector currently experiences. It also presents insights into the rapidly altering competitive scenario to give clients a precise picture of the upcoming events within the chemicals and materials industry. Technavio also provides deep-dive market assessments into the sectors such as bio-chemicals and bio-materials and agrochemicals and fertilizers.

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