Global Acrylonitrile (ACN) Market - Growth, Trends and forecasts (2015-2020)
Global Acrylonitrile (ACN) Market is expected to grow at a CAGR of 4% during the forecast period. Asia Pacific, with a CAGR of 5%, will continue to be the leader in acrylonitrile consumption. Europe and North American regions are estimated to show a moderate growth. Total production capacity of acrylonitrile (ACN) was estimated to be 6.9 million tonnes. Asia Pacific accounts for over half of the global production capacity. China and the US have the highest installed capacities. Acrylonitrile is a commodity petrochemical derived from propylene. It is manufactured by the ammoxidation of propylene. Major uses for acrylonitrile are as a monomer in polyacrylonitrile for acrylic fibers, in ABS and SAN resin manufacture as a modifying monomer, and as a chemical intermediate in the manufacture of adiponitrile and acrylamide. Acrylonitrile is used in production of acrylic fibres, acrylonitrile-butadiene-styrene (ABS), styrene-acrylonitrile (SAN) and nitrile-butadiene-rubber (NBR). Capacity utilization is expected to grow from 86% at present to 92% by 2020. New capacities are expected to be added in China, Iran and Saudi Arabia in the near future. China aims to become more self-sufficient and less dependent on import by adding new ACN plants. Ineos, Asahi Kasei Corporation, Sinopec, Formosa Plastics Corp, Sumitomo Chemical Company Limited, Mitsubishi Chemical Corporation and Reliance Industries Limited are some of the major players in acrylonitrile industry. Drivers The low per capita consumption of Acrylonitrile products in developing countries such as India, China and Brazil, along with the growth of end-use industries provides a bright future for global Acrylonitrile market. Challenges The industry is expected to face certain challenges such as fluctuation of crude oil prices, product commoditization and saturation in demand for Acrylonitrile. SPECIALITIES OF THIS REPORT 1) The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade 2) The report will be an ideal source material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered. 3) The report contains wide range of information about the leading market players and the major strategies adopted by them. WHAT THE REPORT OFFERS 1) Market Definition along with identification of key drivers and restraints for the market. 2) Market analysis with region specific assessments and competition analysis on a global and regional scale. 3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale. 4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares. 5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale. 6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.