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Acrylonitrile is a colorless volatile liquid with the chemical formula CH2CHCN. It is an organic compound and is sometimes obtained yellow due to the presence of impurities. It is produced using ammoxidation process in which propylene, ammonia, and air are reacted in the presence of a catalyst at high temperatures. Acrylonitrile is highly reactive and toxic and is an important monomer for the production of plastics such as ABS, SAN, ASA, and acrylonitrile-butadiene rubber. The growth of the acrylonitrile market is primarily due to the high demand for mentioned plastics from the automotive and construction industry due to their properties such as durability, thermal stability, chemical resistance, and high strength.
Key Market Driver -
Rising demand for plastics from various end-use industries
Key Market Restraint -
Toxicity of acrylonitrile
The key market driver for the global acrylonitrile market is the rising demand for plastics from various end-use industries. Acrylonitrile is majorly used to produce plastics such as acrylonitrile butadiene styrene, acrylonitrile styrene acrylate, styrene-acrylonitrile, and others. High demand for these plastics from automotive, construction, and other industries due to the properties exhibited by them, is expected to drive the acrylonitrile market.
Key market restraint for the global acrylonitrile market is the toxicity of acrylonitrile. Acrylonitrile is highly flammable and toxic and releases harmful fumes of nitrogen oxides and hydrogen cyanide. Excessive exposure to acrylonitrile increases the possibility of cancer, hence leads to a decline in the market.
Based on application, the acrylonitrile market is segmented into, acrylonitrile butadiene styrene, styrene-acrylonitrile, resin, acrylic fiber, acrylonitrile-butadiene rubber, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the notable companies in the global acrylonitrile market are INEOS, Asahi Kasei, Mitsubishi Chemicals, SINOPEC, Ascend Performance Materials, Taekwang Industrial Co., Ltd., Secco, Chemelot, LUKOIL, Lenntech B.V., Sumitomo Chemical, and other key players.
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The global acrylonitrile market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The growth of the acrylonitrile market in North America can be owed to the implemented environmental regulations to minimize carbon emissions, which has led to the increased usage of plastics in automotive, thereby growing the market for acrylonitrile. The presence of major automotive manufacturers in Europe has increased the consumption of tires. This has resulted in an increased demand for acrylonitrile to produce tires in the region. China and India being the major producers and consumers of the tire in the region, will contribute to the high demand for acrylonitrile to produce rubber. The acrylonitrile market is expected to grow at a significant rate in Latin America, and the Middle East & Africa, due to the growing automotive, and construction industry in these regions.
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