The global Acrylonitrile (ACN) market is expected to grow at an exponential CAGR in the years to come due to augmenting applications and scope across the globe. Acrylonitrile (ACN) is a compound that is colorless in nature and appears as a volatile liquid. It is extensively used as a monomer in the manufacturing process of elastomers, synthetic fibres, polyacrylonitrile as well as various other plastics.
The factors that are boosting the
Acrylonitrile (ACN) industry growth may include robust technological
advancements, rise in the industrialization, rising applications across various
sectors, mounting demands, rise in the awareness among the end users, existence
of significant players, and augmented economic growth.
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Its most wide employment has been
observed in the production of acrylic fibres that are said to be soft and light
in touch possessing a warm feeling. The usage of acrylic fibres lies in the
production process of clothing including socks, sportswear, sweaters and
jumpers. In addition, home furnishings and bedding like upholstery, cushions,
carpets, and blankets make extensive use of it. Due to its rising benefits and
applications across various sectors, the market is gaining huge recognition
across the globe.
The only factor that is impeding
the Acrylonitrile (ACN) market growth may include soaring prices of the
compound due to heightened feedstock costs. It has been anticipated that
the industry will experience a robust growth in the next couple of years due to
rising applications and scope around the globe. Acrylonitrile (ACN) Market is
segmented on the basis of application as SAN (styrene-acrylonitrile),
adiponitrile, NBR (nitrile-butadiene-rubber), ABS
(acrylonitrile-butadiene-styrene), acrylamide, and others.
The market is segregated by
geography as North America, Southeast Asia, China, Europe, Japan, and India.
Among all the geographical regions, it has been observed that Asia Pacific is
lately been considered as the leader of the Acrylonitrile (ACN) market and the
region will go on growing with the same pace, the reason being augmented
industrialization, urbanization, augmented awareness among the end users
regarding the applications of the compound, and emergence of leading companies
in the region.
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In contrast, Europe and North
America are showing a much sluggish growth in the industry due to strict
regulations, lowered production, and rising prices. The prominent players
operating in the Acrylonitrile (ACN) Market are recognized as Mitsubishi Rayon
Co, Ineos, Shanghai SECCO Petrochemical Co, Ascend Performance Materials, Asahi
Chemicals, Petro China, Formosa Plastics Corp, and SINOPEC.
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