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Worldwide Sales of Acrylonitrile Are Expected to Reach a Revenue of US$ 19.8 Billion by 2033

06-15-2023 10:21 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Acrylonitrile

Acrylonitrile

Global demand for acrylonitrile is valued at US$ 13.3 billion in 2023 and is estimated to reach a market valuation of US$ 19.8 billion by the end of 2033. The global acrylonitrile market is projected to exhibit expansion at a steady 4% CAGR over the next ten years.

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Acrylonitrile is used in the production of derivatives such as carbon fiber, acrylamide, nitrile rubber, acrylonitrile butadiene styrene, etc. The rapid expansion of industries such as automotive and construction is projected to be a key prospect driving demand for acrylonitrile in the future.

Competitive Landscape

Acrylonitrile manufacturers are focusing on expanding their business scope while maintaining their sustainability goals as the focus on sustainability increases rapidly.

• In January 2022, Asahi Kasei, a multinational Japanese chemical manufacturer, revealed that it was foraying into the production of acrylonitrile by using biomass-derived raw materials. ISCC PLUS1 international certification for acrylonitrile as a sustainable product was acquired by Tongsuh Petrochemical Corp., Ltd. (TSPC), which is a subsidiary of Asahi Kasei.

Top-tier acrylonitrile producers are also expected to lean towards strategies such as collaborations, mergers, and acquisitions to strengthen their stance in the global competitive landscape.

• In January 2023, LANXESS, a leading specialty chemicals manufacturer, announced that it had entered into cooperation on the supply of biocircular styrene with TotalEnergies, a French energy company. LANXESS is also known for sourcing biocircular acrylonitrile and playing a crucial role in the sustainable and eco-friendly chemicals business.

• In July 2022, INEOS, a renowned British chemicals company, signed a deal that allowed it to acquire 50% of Sinopec subsidiary SECCO Petrochemical Co. Ltd. The venture was capable of producing 4.2 million tonnes per year of polymers, olefins, and derivatives such as acrylonitrile, ethylene, etc. in its 200-hectare complex in Shanghai Chemical Industry Park.

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Key Companies Profiled:

• INEOS
• Sumitomo Chemical Co. Ltd.
• China Petrochemical Technology Development Co. Ltd.
• SECCO
• Ascend Performance Material
• Chemelot
• Formosa Plastics
• Asahi Kasei Advance Corporation
• Mitsubishi Chemical Corporation
• Taekwang Industrial Co. Ltd.

Key Segments of Acrylonitrile Industry Research

• By Application :

o Acrylic Fiber
o Adiponitrile
o Styrene Acrylonitrile
o Acrylonitrile Butadiene Styrene
o Acrylamide
o Carbon Fiber
o Nitrile Rubber
o Others

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Key Questions Covered in the Acrylonitrile Market Report:

• What is the projected value of the Acrylonitrile factors Industry in 2023?
• At what rate will the global Acrylonitrile factors market size grow until 2033?
• Which are the factors hampering the growth of Acrylonitrile factors?
• Which region is expected to lead in the global Acrylonitrile factors market by 2033?
• Which are the factors driving the Acrylonitrile factors Industry during the forecast period?
• What is the expected market value of the Acrylonitrile factors market during the forecast period?

Regional Analysis for Acrylonitrile Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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