Acrylonitrile Market Size and Analysis, Trends, Recent Developments, and Forecast Till 2028

The global Acrylonitrile market research report added by Reports and Data is a market intelligence report that offers a comprehensive assessment of the market size, market share, revenue growth, CAGR, current and emerging trends, macro- and micro-economic factors, regulatory framework, and key drivers and restraints. 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.

Asia Pacific held the largest market share throughout the forecast period. High demand for electrical and electronics, home appliances, gadgets, and automobiles in China and India are encouraging market growth. Moreover, the growth in the construction sector in the developing nations are also boosting market demand. China, Japan, Taiwan, Korea are the hub of semiconductors, and this also encourages the growth of the market.

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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.

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.

ABS is also commonly used in the automotive industry for manufacturing of items, including plastic alloys and decorative interior car parts. In the construction industry, this polymer finds application in the production of plastic tubing and corrugated plastic structures.

Europe is expected to grow at a significant rate owing to the high demand for acrylonitrile in the automotive sector. The expanding automotive industry in the region with high production of energy-efficient vehicles to curb carbon dioxide emission is further augmenting market demand. Germany is the major contributor of the acrylonitrile market from the region.

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For the purpose of this report, Reports and Data have segmented into the global Acrylonitrile market on the basis of application, end-user, distribution channel and region:
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

Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
North America
Europe
Asia Pacific
MEA
Latin America

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