Global acrylonitrile (ACN) market is expected to witness growth over the forecast period on account of increasing applications in plastics, pharmaceutical and automotive sectors. ACN has the ability of providing durability, strength and heat resistance, which paves its use in automotive, construction and consumer goods industry. Construction industry growth in China, India and Mexico amid regulatory support to infrastructure development at domestic level is expected to fuel ACN demand in the near future. Fluctuation in prices of petrochemical building blocks such as polypropylene and shifting preference of consumers towards organic chemicals is likely to hinder the ACN market growth over the forecast period.
ACN is an organic compound which is a colorless volatile liquid and is produced by ammonia catalysis of propylene. It has application in the production of homopolymers such as polyacrylonitrile and numerous copolymers such as styrene acrylonitrile (SAN), acrylonitrile styrene acrylate (ASA), acrylonitrile butadiene styrene (ABS) and synthetic rubbers. ABS is a thermoplastic, which is derived from acrylonitrile and exhibits the property of providing substantial weight reduction for automobiles.
ABS has application in automotive industry for manufacturing handles, panels and bumpers of automobiles. Growing demand for light weight automobiles for obtaining better fuel efficiency is likely to amplify ABS market growth. The properties such as rigidity and toughness executed by ABS makes it valuable for application in construction industry for manufacturing of headliners, interiors grills, trims, and centre consoles.. Construction industry growth in China, India and Middle East is expected to remain a key driver for ABS demand and likely to favor ACN market growth in the near future.
SAN resin is a copolymer derived from ACN and styrene, manufactured by continuous mass polymerization, emulsion and suspension. This resin has ability of providing high heat resistance, rigidity, chemical resistance and good dimensional stability. Aforementioned properties of SAN has application in air conditioner impellers, marine instruments, electronic lenses, cups, meter covers, tractor components, dials switches cups, swimming pool components, automotive trim and industrial battery cases.
SAN also finds application in personal care industry for packaging of lipstick tubes caps, bottle caps, compact cases and nozzles. SAN resins are likely to gain acceptance in global healthcare sector on account of increasing its applications in light diffusers, dental application and autoclavable devices Other SAN applications include lamps, calculators, drawing equipment, printers, writing materials and cylindrical impellers for air-conditioners. Aforementioned properties and applications of SAN resin are likely to fuel the demand for acrylonitrile market over the forecast period.
Asia Pacific is expected to be a promising market on account of increasing demand for electrical & electronics gadgets, house ware appliances and automobiles in India and China is likely to stimulate the demand for acrylonitrile in near future. Robust manufacturing base of electronics in China, Korea, Taiwan and Japan is expected to fuel the demand and is likely to open new market opportunities for ACN manufacturers in the region. Europe is likely to be a potential market on account of manufacturing base of automobile manufacturing in Germany, Italy and France and thus augment the ACN market in near future.
North America is likely to be a promising industry over the forecast period in light of presence of robust pharmaceutical manufacturing industries. Expansion of shale gas deposits and tight oil fields by the U.S. and Canada is likely to provide easy availability of petrochemical feedstock. The ease in availability of petrochemical feedstock as a raw material for the manufacturing of ACN is expected to fuel the industry growth in near future.
In 2013, Saudi Arabia announced to invest in automotive sector as a part of under the program of National Industrial Development Cluster .This program is expected to open up new plants to manufacture automobiles with ease in availability of raw materials and likely to open new markets on ACN market in near future.
Key players include Ineos, Petro china, Asahi chemicals, Asahi kasei Corp, Mitsubishi Rayon Co, SINOPEC, Ascend Performance Materials, Formosa Plastics Corp, Taekwang Industrial Co, and Shanghai SECCO Petrochemical Co. In 2014, Lanxess launched special elastomers as an alternative to conventional elastomers for application in two-wheeler vehicles. These types of elastomers incorporate the application of acrylonitrile in automobile industry and in turn open new opportunities for ACN market over the forecast period.
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