The predicted growth for the acrylonitrile market share in Europe from 2021 to 2026 is 160.53 thousand tons at a progressing CAGR of 3.34%.
This acrylonitrile market in Europe forecast report extensively covers segmentations by:
- Application - ABS and SAN, acrylic fibers, polyacrylamide, nitrile butadiene rubber, and other
- Geography - Germany, Italy, France, UK, and Rest of Europe
The acrylonitrile market report in Europe offers information on several market vendors, including Asahi Kasei Corp., Ascend Performance Materials Operations LLC, China Petroleum and Chemical Corp., INEOS Group Holdings SA, Lenntech BV, Mitsubishi Chemical Corp., PJSC LUKOIL, Shanghai SECCO Petrochemical Co. Ltd., Sumitomo Chemical Co. Ltd., and Taekwang Group among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
What will the Acrylonitrile Market Size in Europe be During the Forecast Period?
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Acrylonitrile Market in Europe: Key Drivers, Trends, and Challenges
The increasing demand for acrylonitrile from the automotive industry is notably driving the acrylonitrile market growth in Europe, although factors such as health hazards caused by acrylonitrile may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the acrylonitrile industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Acrylonitrile Market Driver in Europe
One of the key factors driving growth in the Europe acrylonitrile market growth is the increasing demand for acrylonitrile from the automotive industry. Acrylonitrile is the primary raw material used to manufacture plastics, elastomers, and synthetic fibers. It is one of the major substitutes for metal components as well. Currently, the automotive industry in Europe is the largest consumer of acrylonitrile. Auto manufacturers are focusing on manufacturing lightweight, fuel-efficient, and environment-friendly automobiles to comply with stringent environmental regulations on vehicular emissions. Major automotive manufacturing countries in Europe, such as Germany, France, and Italy, use acrylonitrile in the form of plastics in various automotive components. The above-mentioned countries have large manufacturing facilities for automotive production. The increasing production of vehicles will lead to a rise in the demand for acrylonitrile in Europe.
Key Acrylonitrile Market Trend in Europe
The increasing carbon fiber production is another factor supporting the Europe acrylonitrile market share growth. Carbon fiber is a long, thin, strong, and lightweight material that is made from polyacrylonitrile (PAN), an organic polymer. Acrylonitrile is the primary raw material for producing PAN. Approximately 90% of carbon fibers are made from PAN, and the rest are made of rayon or petroleum pitch. Carbon fiber is stronger and lighter than steel. It is extensively used in the aerospace and defense, sports and leisure, wind energy, and automotive sectors. The increasing demand for carbon fibers in the aerospace and defense, sports, and leisure sectors will drive the demand for acrylonitrile during the forecast period. In the aerospace industry, carbon fibers are used to manufacture structures and components for aircraft and spacecraft. The applications include hot air balloon gondolas and gliders, passenger airliners, fighter planes, and space shuttles. The increasing demand for carbon fibers from the major application segments will drive the consumption of acrylonitrile
Key Acrylonitrile Market Challenge in Europe
The health hazards caused by acrylonitrile will be a major challenge for the Europe acrylonitrile market growth during the forecast period. ABS is a polymer manufactured by the polymerization of acrylonitrile and styrene polymers in the presence of polybutadiene rubber. Acrylonitrile is one of the raw materials of ABS and is identified as hazardous by the European Chemical Agency (ECHA). It is released into the air and wastewater during the industrial production and consumption of ABS. Inhalation of acrylonitrile is hazardous and affects workers in production units and warehouse storage areas. The release of acrylonitrile into the aquatic environment can pose major risks to aquatic species. Therefore, health hazards caused by acrylonitrile can reduce the growth of the acrylonitrile market in Europe.
This acrylonitrile market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the acrylonitrile market in Europe as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the acrylonitrile market in Europe during the forecast period.
Who are the Major Acrylonitrile Market Vendors in Europe?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Asahi Kasei Corp.
- Ascend Performance Materials Operations LLC
- China Petroleum and Chemical Corp.
- INEOS Group Holdings SA
- Lenntech BV
- Mitsubishi Chemical Corp.
- PJSC LUKOIL
- Shanghai SECCO Petrochemical Co. Ltd.
- Sumitomo Chemical Co. Ltd.
- Taekwang Group
This statistical study of the acrylonitrile market in Europe encompasses successful business strategies deployed by the key vendors. The acrylonitrile market in Europe is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.
Product Insights and News
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Asahi Kasei Corp. - The company offers a range of acetonitrile such as chemical grade, reagent grade, and highly purified grade
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The acrylonitrile market in Europe forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Acrylonitrile Market in Europe Value Chain Analysis
Our report provides extensive information on the value chain analysis for the acrylonitrile market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the commodity chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Acrylonitrile Market in Europe?
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46% of the market’s growth will originate from Germany during the forecast period. Market growth in this region will be faster than the growth of the market in Italy, the UK, and the Rest of Europe regions.
The presence of major automotive manufacturers will facilitate the acrylonitrile market growth in Germany over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 had a negative impact on the regional market. However, the growing focus of automotive manufacturers on investing in and developing advanced EVs, the rise in the number of automotive manufacturers in several countries in the region, and the initiation of construction activities in Q3 2021 are the major factors expected to contribute to the recovery and growth of the acrylonitrile market in Germany during the forecast period.
What are the Revenue-generating Application Segments in the Acrylonitrile Market in Europe?
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The acrylonitrile market share growth in Europe by the ABS and SAN segment will be significant during the forecast period. The increasing demand for household appliances will boost the demand for ABS and SAN. ABS is used in these household appliances owing to its properties such as high impact resistance, excellent insulating properties, high weldability, abrasion and stress resistance, outstanding surface brightness, and excellent surface aspects. In the automotive industry, ABS and SAN are highly preferred plastic materials, owing to their properties such as lightweight, high impact and strength resistance, and high chemical resistance. Increasing automotive production will drive the consumption of ABS and SAN during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the acrylonitrile market size in Europe and actionable market insights on post COVID-19 impact on each segment.
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Acrylonitrile Market Scope in Europe |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.34% |
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Market growth 2022-2026 |
160.53 th tons |
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Market structure |
Fragmented |
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YoY growth (%) |
2.52 |
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Regional analysis |
Europe |
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Performing market contribution |
Germany at 46% |
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Key consumer countries |
Germany, Italy, France, UK, and Rest of Europe |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Asahi Kasei Corp., Ascend Performance Materials Operations LLC, China Petroleum and Chemical Corp., INEOS Group Holdings SA, Lenntech BV, Mitsubishi Chemical Corp., PJSC LUKOIL, Shanghai SECCO Petrochemical Co. Ltd., Sumitomo Chemical Co. Ltd., and Taekwang Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Acrylonitrile Market Report in Europe?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive acrylonitrile market growth in Europe during the next five years
- Precise estimation of the acrylonitrile market size in Europe and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the acrylonitrile industry in Europe across Germany, Italy, France, UK, and Rest of Europe
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of acrylonitrile market vendors in Europe
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