Summary
Europe Acrylonitrile ( ACN ) Market-Growth , Trends and Forecasts ( 2017-2022 ). Acrylonitrile is used in production of acrylic fibres , acrylonitrile-butadiene-styrene ( ABS ), styrene-acrylonitrile ( SAN ) and nitrile-butadiene-rubber ( NBR ). Capacity utilization is expected to grow from 86 % at present to 92 % by 2020 . New capacities are expected to be added in China , Iran and Saudi Arabia in the near future . China aims to become more self-sufficient and less dependent on import by adding new ACN plants .
Description
Europe Acrylonitrile ( ACN ) Market is expected to grow at a CAGR of XX % during the forecast period . Europe is estimated to show a moderate growth . Though overall economic growth in Europe is slow currently , but this market is expected to grow moderately . Total production capacity of acrylonitrile ( ACN ) was estimated to be XX million tonnes . In Europe UK and Germany is expected to have major growth in this industry as there would be major growth in end user industry like automotive and construction majorly .
Acrylonitrile is a commodity petrochemical derived from propylene . It is manufactured by the ammoxidation of propylene . Major uses for acrylonitrile are as a monomer in polyacrylonitrile for acrylic fibers , in ABS and SAN resin manufacture as a modifying monomer , and as a chemical intermediate in the manufacture of adiponitrile and acrylamide .
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Acrylonitrile is used in production of acrylic fibres , acrylonitrile-butadiene-styrene ( ABS ), styreneacrylonitrile ( SAN ) and nitrile-butadiene-rubber ( NBR ). Capacity utilization is expected to grow from 86 % at present to 92 % by 2020 . New capacities are expected to be added in China , Iran and Saudi Arabia in the near future . China aims to become more self-sufficient and less dependent on import by adding new ACN plants .
The driver for this market is the growth in the end user industries like automobile , construction etc . The industry is expected to face certain challenges such as fluctuation of crude oil prices , product commoditization and shifting consumer preference for organic chemicals . The opportunity for this market is growing demand for light weight vehicles in near future this will amplify this market as ABS is used in automobiles . Few companies manufacturing and selling Acrylonitrile such as Ineos , Asahi Kasei Corporation , Sinopec and Mitsubishi Chemical Corporation are some of the major players in acrylonitrile industry .
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WHAT THE REPORT OFFERS
� Market Definition along with identification of key drivers and restraints for the market .
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