H1 2023: In H1 2023, the leading players in the Europe Acrylonitrile market were AnQore and Ineos Nitriles Based on Acrylonitrile production, Ineos Nitriles was leading all across the globe in H1 2023. In June 2023, Ineos Nitriles, one of the prominently world-renowned producers of Acrylonitrile announced a specific-new line called Invireo TM bio-based Acrylonitrile. This new line focuses on sustainable chemicals and reducing the carbon-footprint. This will provide the option to choose a bio-based alternative to acrylonitrile. The price of acrylonitrile fluctuated in Europe in H1 2023. Prices for acrylonitrile decreased in January 2023 as a result of weak demand from local producers of rubber and acrylic. However, as a result of tighter restrictions on Russian petroleum products that had an impact on production rates, prices spiked in the middle of February 2023 and recovered. AnQore in Greleen, the Netherlands, was shut down for maintenance at the end of March 2023. With the increased imports from Asia in April 2023, market supplies were constant in Europe. The downstream ABS, Styrene Acrylonitrile, and Nitrile Butadiene sectors continued to see sluggish acrylonitrile demand. Due to increased supply from Asia and decreased buying and manufacturing activity in the region at the end of H1 2023 , the price further fell in Europe.
The Europe Acrylonitrile market has reached approximately 1200 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.58% during the forecast period until 2035.
The manufacturing of Acrylonitrile Butadiene Styrene (ABS) is what drives the market for Acrylonitrile in Europe. Due to its outstanding characteristics, including as strength and endurance at low temperatures, acrylonitrile butadiene styrene is widely used in the electronics and automotive industries ABS is used in a number of end-use industries, including oil & gas, food, aviation, defence, and aerospace. The demand for acrylonitrile is rising as a result of the expanding use of acrylic fibres. These fibres are useful for clothes since they are lightweight. It is used as the main raw material for making acrylic fibres. Because of its light weight, acrylic fibre is used in the textile and garment sectors. Thus, the Acrylonitrile market is expected to reach 1850 thousand tonnes in 2035.
Based on region, the Europe Acrylonitrile market is divided into Western Europe, Southern Europe, Eastern Europe, and Northern Europe. However, Western Europe is dominating the Acrylonitrile market. Given the huge demand for acrylonitrile in the automotive sector, an increase in demand is anticipated in Europe. The industrialised economies that make up the majority of the Europe region are concentrating on building green infrastructure, which is a factor in the rising demand for ABS in the construction industry.
Based on the end-user industry, the Europe Acrylonitrile market is segmented into ABS, Acrylic Fibre, Acrylamide, and Others. Among these, the ABS industry is dominating the Acrylonitrile market and consumed roughly 42% of the market in 2022. However, in the upcoming years, the rate of consumption of ABS in Europe is projected to be impacted by the increasing adoption of electronic gadgets and the expanding urban population with higher consumer spending.
Major players in the production of Europe Acrylonitrile are AnQore, Ineos Nitriles, Petkim Petrokimya Holding A.S., Polymir (OJSC Naftan), Repsol Chemicals, Saratovorgsintez, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Acrylonitrile which covers production, demand and supply of Acrylonitrile market in the globe.
• To analyse and forecast the market size of Acrylonitrile
• To classify and forecast Europe Acrylonitrile market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acrylonitrile market in the globe.
To extract data for Europe Acrylonitrile market, primary research surveys were conducted with Acrylonitrile manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Europe Acrylonitrile market over the coming years.
ChemAnalyst calculated Acrylonitrile demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce Acrylonitrile. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acrylonitrile manufacturers and other stakeholders
• Organizations, forums and alliances related to Acrylonitrile s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acrylonitrile s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe Acrylonitrile s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1200 thousand tonnes
Market size Volume by 2035
1850 thousand tonnes
Growth Rate
CAGR of 4.58% from 2023 to 2035
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Capacity by Process, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (ABS, Acrylic Fibre, Acrylamide, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
Which region is leading as a consumer of the Europe Acrylonitrile market?
Ans:
Asia Pacific is the largest consumer of the Europe Acrylonitrile market.
Q2.
Which end-use industry is dominating the Europe Acrylonitrile market?
Ans:
The ABS industry is dominating the Acrylonitrile market with a market share of roughly 41% in 2022.
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