What is the global market of acrylonitrile and who are its producers?
In 2019, the value of the global acrylonitrile market was around 11.8 billion USD. One of the major producers and exporters for acrylonitrile in the global market is the United States. This is mainly because of two reasons: they have the abundant availability of the raw material which is propylene and it’s available at a very cheap price. Because of this, the cost of acrylonitrile in the country is eventually lower as compared to other countries. In 2018, the US alone exported 504,271 tons of acrylonitrile which were around 31% of the global exports. In the US, one of the major producers of acrylonitrile is INEOS Nitriles.
The global demand for acrylonitrile is mainly dominated by the rising demand for acrylic fibers. This is mainly in the developing countries of Asia Pacific due to the growth of textile, apparel, automotive, and construction industries in this region. Due to properties like resistance to laundry bleach, ultraviolet degradation, and microbiological attack acrylic fibers are used as the substitute for wool fibers. Other leading regions include Europe, Latin America, and the Middle East & Africa. Besides apparel, the automotive industry is also the largest consumer of acrylonitrile.
The market of acrylonitrile in the world is mainly segmented into 3 parts based on application, end-use industry, and region.
• Based on application: Acrylic fiber, acrylonitrile butadiene styrene (ABS), styrene-acrylonitrile resin (SAR), acrylamide, and others.
• Based on end-use industry: Automotive, electrical & electronics, construction, packaging, pharmaceuticals, textile and others.
• Based on region: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Few of the leaders who manufactures acrylonitrile for the global market are Asahi Kasei Corporation (Japan), Solvay (US), AnQore, Koninklijke DSM NV (Netherlands), Ascend Performance Materials (US), INEOS (UK), LUKOIL (Russia), Mitsubishi Chemical Corporation (Japan), Taekwang Industrial Co. Ltd (South Korea), etc.
In 2019, the largest consumption for acrylonitrile was for manufacturing acrylonitrile butadiene styrene. In 2018, the demand for acrylonitrile in the Asia Pacific region was 52.4 million units. And in 2019, the largest consumer for acrylonitrile is the Asia Pacific region with a revenue share of 61.1%. The major imports in the Asia-Pacific region were China, India, Taiwan and Korea.