Acrylonitrile Market Segmentation:
Application
Acrylonitrile butadiene styrene segment is poised to capture acrylonitrile market share of around 20% by the end of 2035. Within the consumer appliances sector, acrylonitrile butadiene styrene resin usage is rising. Several end-user sectors, such as food handling and equipment, oil and gas, aircraft, defense, and aerospace, employ acrylonitrile butadiene styrene. Due to its remarkable properties, including as strength and endurance at low temperatures, acrylonitrile butadiene styrene is widely used in the electronics and automotive industries.
It is widely used in the electronics and automotive industries because of its remarkable qualities, which include strength, low-temperature durability, and lightweight nature. According to the International Energy Agency 2021 Outlook, sales of electric vehicles will double from 2020 levels to 6.6 million worldwide in 2021. 2 million electric vehicles were sold globally in the first quarter of 2022, indicating a sharp increase in sales. Furthermore, acrylonitrile butadiene styrene is expected to find more uses in the near future as a result of global advancements in 3D printing, leading to market expansion in this segment.
End-use Industry
Consumer goods segment in the acrylonitrile market is set to observe moderate growth through 2035. The segment's growth can be attributed to the increasing demand for appliances such as refrigerators and televisions. Globally, there were approximately 660 million smart TVs in use in 2021. In 2019, the size of the worldwide smart TV industry was estimated to be USD 191.6 billion. Acrylonitrile is an excellent choice because of its exceptional chemical resistance and superior tensile strength.
By using acrylonitrile components, appliance manufacturers can drastically lower the overall weight of their products while also improving design and heat resistance. Additionally, the corrosion resistance of acrylonitrile guarantees strength and durability, prolonging the life of consumer items. Additionally, the electrical insulation and ultraviolet (UV) stability of acrylonitrile enable the precise and complex manufacture of electrical components, promoting design flexibility and innovation in kitchenware and electrical appliances.
Our in-depth analysis of the market includes the following segments:
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