The Europe Acrylonitrile Market would witness market growth of 1.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 427.0 Kilo Tonnes, showcasing a growth of 1.0% (2019-2022).
Acrylonitrile is a versatile chemical compound that is a crucial raw material in producing a wide range of products. It makes synthetic fibers, plastics, resins, and various other materials. Acrylic fibers produced from acrylonitrile are known for their softness, warmth, and durability. They are used in clothing, blankets, carpets, and upholstery, providing consumers with comfortable and long-lasting products. This contributes to the production of durable and lightweight products. Acrylonitrile-based materials are often chosen for their sustainability benefits. Lightweight and durable products can be produced by manufacturers, which will reduce energy use and greenhouse gas emissions during use and transportation.
Developing new acrylonitrile-based products with enhanced properties, such as improved heat resistance, chemical resistance, and flame retardancy, can open up new opportunities for market players and applications, further driving demand. As sustainability gains importance, recycling acrylonitrile-containing materials becomes a growth driver. Recycling efforts reduce the demand for virgin acrylonitrile and minimize waste. Acrylonitrile-containing materials are used in electrical enclosures and distribution systems for power generation and equipment. These materials help protect electrical components from environmental factors. Acrylonitrile-based materials produce lighting fixtures, including LED housing and covers. These materials offer good optical properties and durability for lighting applications.
Carbon fiber production relies on the polymerization of acrylonitrile to create precursor fibers. As the carbon fiber industry grows in the UK, there is a higher demand for acrylonitrile as a raw material. The UK has invested in advanced manufacturing technologies, including carbon fiber composite manufacturing. Using carbon fiber composites in aerospace, automotive, and other industries can drive the demand for acrylonitrile-derived precursors. Carbon fiber composites, which rely on acrylonitrile-based precursors, are used in the aerospace industry for their lightweight and high-strength properties. The UK's aerospace sector contributes to the demand for these materials. Carbon fiber-reinforced composites are increasingly used in the automotive sector to lower vehicle weight and improve fuel efficiency. The automotive industry in the UK can drive the demand for carbon fiber precursors. The development of carbon fiber in the UK can lead to increased demand for acrylonitrile as a precursor material. Thus, with the expansion of these sectors, the regional market will expand as well.
The Germany market dominated the Europe Acrylonitrile Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $541.7 million by 2030. The UK market is experiencing a CAGR of 1% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 1.9% during (2023 - 2030).
Based on Application, the market is segmented into Acrylonitrile Butadiene Styrene (ABS), Acrylic Fiber, Styrene Acrylonitrile, Adiponitrile, Acrylamide, Carbon Fiber, Nitrile Rubber, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Acrylonitrile Market will Hit $13.1 Billion by 2030, at a CAGR of 1.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include INEOS Group Holdings S.A., Sumitomo Chemical Co., Ltd., China Petrochemical Development Corporation (Core Pacific Group), Asahi Kasei Advance Corporation (Asahi Kasei Corporation), Mitsubishi Chemical Holdings Corporation, Ascend Performance Materials LLC (SK Capital and Partners), AnQore, Formosa Plastics Group, and TAEKWANG Industrial Co., ltd.
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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