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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