NEW YORK, May 6, 2021 /PRNewswire/ --
The acrylonitrile market is expected to grow by 1,005.68 thousand tons, progressing at a CAGR of over 3% during the forecast period.
NEW YORK, May 6, 2021 /PRNewswire/ --
The acrylonitrile market is expected to grow by 1,005.68 thousand tons, progressing at a CAGR of over 3% during the forecast period.
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The high demand for acrylonitrile from APAC is one of the major factors propelling the market growth. However, stringent regulations and health hazards caused by acrylonitrile might hamper the market growth.
Acrylonitrile Market: Application Landscape
Based on the application, the market witnessed maximum growth in the acrylonitrile butadiene styrene (ABS) and styrene-acrylonitrile (SAN) segment. The growth of the segment is driven by the increased use of ABS and SAN in applications such as instrument panels, pillar trim, dashboard components, door liners and handles, seatbacks, and seat belt components. The market growth in the segment will be significant during the forecast period.
Acrylonitrile Market: Geographic Landscape
By geography, APAC is going to have lucrative growth during the forecast period. About 64% of the market's overall growth is expected to originate from APAC. The growth of the market in APAC is driven by the presence of leading automotive manufacturers in countries such as China, India, Japan, and South Korea. Also, the growing number of flocculant and coagulant manufacturers in China for water treatment will drive the demand for acrylonitrile in APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for acrylonitrile in APAC.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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