LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global acrylonitrile market report until 2021. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global acrylonitrile market for 2017-2021 provides a detailed industry analysis based on the end-user (acrylic fibers, ABS and SAN, PAM, and NBR) and geography (APAC, Europe, North America, and ROW).
The global acrylonitrile market is projected to reach over 6900 thousand metric tons by 2021, growing at a CAGR of more than 3% over the forecast period. The increasing demand from the packaging industry for acrylonitrile is a key factor boosting the growth of the market.
Competitive vendor landscape
“The global acrylonitrile market is competitive with the existence players with a vast geographical presence with massive production facilities located globally. Nonetheless, there are a sizeable number of small, local and regional vendors who occupy significant shares in the market. Vendors compete mainly on the basis of factors such as innovation, price, operational cost, and product quality,” says Ajay Adikari, a lead analyst at Technavio for specialty chemicals research.
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Top five vendors in the global acrylonitrile market
Asahi Kasei operates through five business segments: chemicals and fibers, homes and construction materials, healthcare, electronics, and others. Its operating bases spread across strategic sites globally, to facilitate the effective supply of services and products in all the major markets such as North America, Central and South America, Europe, Asia, and Oceania.
China Petrochemical Corporation
China Petroleum and Chemical Corporation (Sinopec Group) is an oil and energy company. It offers household and commercial products, including oil products, fuel cards, lubricants, liquid petroleum gas, catalyst, asphalt, and natural gas. The company is involved in exploration, production, distribution, storage, and marketing of petroleum oil and natural gas.
Formosa Plastics is a vertically-integrated supplier of petrochemicals and plastic resins. Its core business of producing plastic resins and petrochemicals is carried out through three wholly owned manufacturing subsidiaries. The company operates through six business segments: Polyolefins, Olefins, Vinyl, Chlor-Alkali, Oil and Gas, and Specialty Polyvinyl Chloride.
INEOS manufactures specialty chemicals, petrochemicals, and oil products. It mainly produces raw materials for the production of a wide variety of products such as paints, plastics, textiles, medicines, and others. It also produces solvents used in the production of antibiotics and insulin.
Sumitomo Chemical is one of Japan’s prominent chemical manufacturing companies. It offers a wide variety of products such as petrochemicals, basic chemicals, fine chemicals, agricultural chemicals, IT-related chemicals, and pharmaceuticals. It has a presence in Asia, North America, Europe, Central and South America, the Middle East, and Africa.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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