Press release
Acrylonitrile Market is estimated to be US$ 20.12 billion by 2032 with a CAGR of 4.3% during the forecast period
acrylonitrile market
The main market driver for the acrylonitrile market is the growing demand for plastics from various end-use industries. Acrylonitrile is mainly used for the production of plastics such as acrylonitrile butadiene styrene, for these plastics from automotive, construction and other industries, due to the properties exhibited by them, is expected to drive the acrylonitrile market.
The report "By Application (Acrylonitrile Butadiene Styrene, Styrene-Acrylonitrile Resin, Acrylic Fiber, Acrylonitrile Butadiene Rubber, Others), By End User Industry (Automotive, Electrical & Electronics, Construction, Packaging and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032 "
Key Highlights:
• In October 2022, Ascend Performance Materials announced two initiatives to reduce the carbon footprint of its products. Ascend company has make its global compounding operations carbon neutral, making it the first integrated polyamide producer. It decarbonises a significant part of its operations and has secured ISCC certification for the use of bio-based materials. The company is now certified to use bio-based feedstock to produce acrylonitrile, adiponitrile, hex methylene diamine and polyamide.
• In August 2022, Indian multinational conglomerate, Reliance Industries Limited will invest in capacity expansion in the polyester value chain over the next five years, in line with the company's vision for new materials, making RIL India's first and only company in phases. The world's largest carbon fiber plant at Hajira has a capacity of 20,000 MTPA, based on acrylonitrile feedstock. Ambani announced that he will commercialize acrylonitrile production next year and aims to complete the first phase of the carbon fiber plant in 2025.
Report link:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/4965
Analyst View:
Acrylonitrile is a key ingredient in acrylic fibers used in clothing, plastics, computers, automobiles, food casings, sports equipment, and construction industries. Acrylonitrile in utilized in garments and textiles such as fleece jumpers, carpet flooring, which is expected to drive the demand for acrylonitrile market.
Regional scope:
• North America - U.S., Canada
• Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe
• Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
• Latin America - Brazil, Mexico, Argentina, Rest of Latin America
• Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Key Market Insights from the report:
Acrylonitrile Market accounted for US$ 13.2 billion in 2022 and is estimated to be US$ 20.12 billion by 2032 and is anticipated to register a CAGR of 4.3%. The Global Acrylonitrile Market is segmented based on Application, End User Industry and Region.
• Based on Application, Global Acrylonitrile Market is segmented into Acrylonitrile Butadiene Styrene, Styrene-Acrylonitrile Resin, Acrylic Fiber, Acrylonitrile Butadiene Rubber, Others.
• Based on End User Industry, Global Acrylonitrile Market is segmented into Automotive, Electrical & Electronics, Construction, Packaging and Others.
• By Region, the Global Acrylonitrile Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Acrylonitrile Market:
• Mitsubishi Chemical Corporation
• Reliance Industries Limited
• Sumitomo Chemical CO. Ltd
• Ascend Performance Materials
• Secco
• Chemelot
• Asahi Kasei Corporation
• Formosa Plastics Corporation
• Lenntech BV
• Repsol.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Download A Free Sample Copy:
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/4965
• FORMAT:(PDF)
• NO OF PAGES:170
• BASE YEAR: 2022
Other Related Reports:-
• https://www.prophecymarketinsights.com/market_insight/Global-Trichlorosilance-Market-By-Type-1215
• https://www.prophecymarketinsights.com/market_insight/Global-Dimethylformamide-Market-By-Type-1167
• https://www.prophecymarketinsights.com/market_insight/Global-Aroma-Chemicals-Market-By-1162
Some Important Points Answered in this Market Report Are Given Below:
• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter's five forces analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period
To know more
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Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.
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