Plastic is undeniably most used material in today’s world. While the world is realizing importance of using it wisely, the scientific fraternity is relentlessly to find a better alternative or type of plastic that won’t be a harm to this wonderful planet. Methacrylonitrile also known as 2-Methylprop-2-enenitrile) is basically a chemical compound, which is unsaturated aliphatic nitrile and is commonly used for manufacturing homopolymers, copolymers, elastomers, and plastics. It is also being used as chemical intermediate for the purpose of making acids, amines, amides, esters and other nitriles. Methacrylonitrile is seeing a huge demand, as it is being more commonly used for making synthetic fibres, plastics, resins, along with vitamins and pharmaceuticals. Methacrylonitrile serves as the best replacement for acrylonitrile when it comes to production of a polymer just like an acrylonitrile or butadiene or styrene. This is exactly what contributes to growth of the global methacrylonitrile (MAN) market.
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The impact of the COVID-19 pandemic was clearly visible on the global methacrylonitrile (MAN) market as it suffered huge losses. This was majorly because of the plunge in the demand for chemicals. And this fallen demand was because of numerous trade and travel restrictions imposed, absence of logistic services and no labour.
One of the major factor that has been aggressively driving the growth of the global methacrylonitrile (MAN) market is rise in the demand for this compound in order to make elastomers and copolymers. The methacrylonitrile (MAN) is used for superior quality synthetic products and costs more than other chemicals. This is expected to hinder the growth of the global methacrylonitrile (MAN) market over the period of forecast. On the other need, growing demand for better products that are more durable is the reason why the global methacrylonitrile (MAN) market is forecast to witness massive growth over the period of next several years.
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Key Takeaways - Global Methacrylonitrile (MAN) Market:
- Methacrylonitrile having purity of more than 99 percent doesn’t need any type of catalyst. Additionally, this compound has a double bond, which is why additional reactions can be witness with the help of biological molecules. This is the reason why greater than 99% segment has been minting majority of revenue for this market.
- On the basis of application, the medical care segment is forecasted to witness growth at the fastest rate over the period of next few years. This is because, the pharma industry is growing rampantly and this would help the global methacrylonitrile (MAN) market.
- The region of Asia Pacific is forecasted to remain at the top in terms of generating revenue for the global methacrylonitrile (MAN) market. Growing healthcare sector and construction businesses in countries like India and China is helping this market grow.
Some of the major players operating in the global methacrylonitrile (MAN) market
are listed below:
- LGC Limited
- Marubeni Europe plc
- Merck KGaA
- Otto Chemie Pvt. Ltd
- Spectrum Chemical
- Tokyo Chemical Industry Co. Ltd
- Other Market Participants
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Global Methacrylonitrile (MAN) Market
- Cable and Wire Industry
- Chemical Industry
- Medical Care
- Paint & Coating Industry
By Distribution Channel
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- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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