Acrylonitrile Butadiene Styrene is estimated to Command the Largest Share of the Market during the Forecast Period

Pune, India -- (SBWire) -- 02/09/2018 --The report "Acrylonitrile Market by End Users (Acrylic fibers, Acrylonitrile Butadiene Styrene (ABS), Polyacrylamide (PAM), Nitrile Butadiene Rubber (NBR) and Others) - Global Industry Analysis, Trends analysis and Forecast up to 2023 studies the world as well as regional markets including North America, Europe, Asia Pacific and RoW (Including Latin America, Middle East and Africa)", The acrylonitrile market is expected to reach USD X.XX Billion by 2023 expanding at a CAGR of 3.5%. Factors driving the growth of this market include rapid growth in construction industry, increasing demand from consumer appliances, and rising demand from automotive industry.

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Rapid Growth in Construction Industry

Dynamic economic development across the Asian countries led to rapid growth in construction industry due to rising disposal income and improving living standards. Moreover, the rapid growth in construction industry is the major factor driving the growth of acrylonitrile market worldwide, due to its properties such as heat resistance and thermal stability in construction. Furthermore, continuous usage of styrene acrylonitrile gives the construction materials rigidity, hardness and heat resistance.

Acrylonitrile Butadiene Styrene is estimated to Command the Largest Share of the Market during the Forecast Period

By end users, the acrylonitrile market is classified into Acrylic fibers, Acrylonitrile Butadiene Styrene (ABS), Polyacrylamide (PAM), Nitrile Butadiene Rubber (NBR) and Others. The acrylonitrile butadiene styrene segment is expected to lead the global acrylonitrile in 2017. Factors driving the growth of this segment include growing automobile sector as the ABS is used in the manufacturing of bumpers, panels and handles of automobiles as well as rising consumption of ABS in chemical industry.

Asia Pacific is estimated to Command the Largest Share of this Market

Based on region, the acrylonitrile market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia Pacific is expected to dominate the acrylonitrile market in 2017. This is attributed to factors such as dynamic economic development and increasing demand for electrical and electronic gadgets, house ware appliances and automobiles in India and China. Moreover, durable manufacturing base of electronics in China, Korea, Taiwan and Japan is likely to drive the demand and is expected to bring new opportunities for Acrylonitrile manufacturers in the Asia Pacific region.

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Geographic Coverage

The report profiles some of the key companies in the acrylonitrile market including Ineos, Petro China, Asahi Chemicals, Asahi Kasei Corp., Mitsubishi Rayan Co., SINOPEC, Ascend Performance Materials, Formosa Plastics Corp., Taekwang Industrial Co., Shanghai SECCO Petrochemical Co., Reliance Industries Limited, Lukoil, Cytec Industries Inc., and Sumitomo Chemical Company Limited.