Global acrylonitrile (ACN) market is likely to grow in light of its increasing importance for providing heat resistance and thermal stability in construction, consumer goods and automotive industries. Fluctuating prices of petrochemical feedstock along with rising importance of bio-based polymers is expected to remain challenging factor for industry.
ACN is an organic compound which is produced through the ammonia catalysis of propylene. The product is used to manufacture acrylic fibers, which is further processed to produce clothes such as sweaters, hats, socks and sports gloves. ACN also finds application for the production of butadiene styrene (ABS), styrene acrylonitrile (SAN) and homopolymers such as polyacrylonitrile.
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ABS is used in the manufacturing of handles, bumpers and panels of automobiles. Growing automobile production in the U.S., Mexico, China and Indonesia in light of favorable regulatory support to promote investments at domestic level is expected to fuel ABS demand. ABS is expected to find its application for the manufacturing of consoles, headliners, trims and interior grills in construction industry.
Asia Pacific is likely to be a lucrative industry on account of increasing demand for automobiles, electronic gadgets and house ware appliances in China and India. Robust manufacturing base of electronic industry in Taiwan, South Korea and Japan is expected to open new market opportunities for manufacturers. Rising construction market in China and India in light of regulatory inclination towards infrastructure development at domestic level is expected to remain the positive factor for industry.
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Low growth of automotive industry in France, Spain and U.K. in light of rising manufacturing cost at domestic level is expected to remain a challenging factor. Expansion of tight oil and shale gas deposits in the U.S. and Canada is likely to increase the availability of petrochemical feedstock for manufacturers in the near future.
Key players in the market include Asahi Chemicals, Petro China, Mitsubishi Rayon Co, Ineos, Formosa Plastics Corp, SINOPEC, Shanghai SECCO Petrochemical Co and Ascend Performance Materials. In 2014, Lanxess announced the launch of special elastomers for application in two-wheeler vehicles.
The government of India announced Draft National Chemical Policy in September 2014, intended for enhancing country’s output in global chemical industry from 3% in 2014 to 6% by 2020. This policy in India is expected to open promote new investments in domestic chemical sector and likely to remain favorable factor for ACN manufacturers in the near future.
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