Tuesday, 23 June 2020

Increasing Demand For Acrylonitrile Butadiene Styrene (ABS) Is Anticipated To Drive Acrylonitrile Market Growth

The global acrylonitrile market size is projected to reach USD 16.5 billion by 2027, expanding at a revenue-based CAGR of 4.3%, according to a new report by Grand View Research, Inc. The increasing demand for acrylonitrile butadiene styrene (ABS) is anticipated to drive growth over the forecast period.

ABS is expected to have strong demand from the automotive, construction, and electronics industries, especially in the developing countries such as China and Brazil. The increasing production of consumer durable electronics in China due to the growing affordability and innovations in the industry are anticipated to propel the demand. ABS offers excellent heat stability and resistance to chemicals making it suitable in the manufacture of electronic devices.

Apart from ABS, styrene-acrylonitrile resins manufactured using acrylonitrile and styrene are also expected to play a key role in fueling the demand for the product. These are used in consumer electronics and automotive manufacturing. These resins are also gaining preference in the pharmaceutical industry due to chemical resistance, dimensional stability, and hygiene and safety benefits.

Acrylic fiber is used for manufacturing of clothes and is in high demand. Arcrylic fibers are formed from acrylonitrile. The growing textile and apparel industry in emerging economies of the region, due to rising urbanization and increasing affordability makes the demand for acylonitrile grow in the market.


Among the products such as acrylonitrile butadiene styrene (ABS), acrylic fibers, carbon fiber, nitrile rubber, and others, ABS has dominated the acrylonitrile consumption due to the increasing demand of ABS from the automotive and construction industries.

For full research report on Acrylonitrile Market visit here: https://www.grandviewresearch.com/industry-analysis/acrylonitrile-acn-market

Further key findings from the report suggest:

  • ABS application dominated the industry with a volumetric share of over 33.5% in 2019. ABS is highly flexible for use in injection molding, blow molding, as well as extrusion processes. It has superior physical, chemical, and mechanical properties and is cost effective as compared to other resins, which is expected to fuel its production, thus positively affecting the acrylonitrile market over the forecast period
  • Carbon fiber is expected to witness the fastest growth rate of 3.1%, in terms of volume, over the forecast period on account of growing demand for lightweight materials from automotive and aerospace sectors
  • Asia Pacific is the largest and fastest growing market, in terms of revenue, on account of high demand for ABS as a replacement of traditional plastics in the end-use sectors, particularly automotive
  • North America accounted for a volume share of 19.3%, in terms of volume, in 2019. According to the National Council of Textile Organizations, the U.S. textiles industry invested over USD 22.8 billion in new plants and equipment from 2006 to 2017. High focus of the manufacturers on production and export of textiles is expected to fuel the demand for acrylic fiber, thereby fueling the demand for acrylonitrile over the coming years
  • In December 2017, Energy Department’s National Renewable Energy Laboratory (NREL) developed a novel method for the production of renewable acrylonitrile. This method is a hybrid biological-catalytic process and uses hydroxypropionic acid (3-HP) as a raw material.


Grand View Research has segmented the global acrylonitrile market on the basis of application and region:

Acrylonitrile Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
  • Acrylic Fiber
  • Adiponitrile
  • Styrene Acrylonitrile
  • Acrylonitrile Butadiene Styrene
  • Acrylamide
  • Carbon Fiber
  • Nitrile Rubber
  • Others
Acrylonitrile Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
About Grand View Research    
      
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com





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