As the acrylonitrile industry recovered from the impact of the COVID-19 pandemic, looming on the horizon were: capacity overbuilds, economic headwinds, and geopolitical disruptions. Due to this several challenges emerged including the rising cost of raw materials, energy volatility, and disruptions to global supply chains. The convergence of all of these factors created the perfect storm and the industry entered into a deep demand trough. Acrylonitrile demand is expected to recover in the coming years, although risks to a healthy recovery remain.
Despite the numerous headwinds, the focus on sustainability through energy transition, circularity and mounting regulatory pressures has sharpened. Many petrochemical companies are investing in sustainability initiatives and exploring new technologies that can reduce their carbon footprint. However, these investments and initiatives are leading to increasing costs and impacting profitability. Producers and consumers alike need to strike the right balance to meet targets, while staying in the green.
Now more than ever, the petrochemical industry is in a state of transition as it adapts to changing market conditions and seeks to meet the demands of a more sustainable future. Decisions made today could have a lasting impact on the acrylonitrile market.
Watch the market update from Kevin Longworth on Global Acrylonitrile and why you should attend the event.
Join us at the Global Acrylonitrile Forum to gain the latest insight and deep analysis into the acrylonitrile market as you connect with your peers and industry professionals. This year’s theme, “Evolution of a Dynamic Market” will explore these key questions and more:
Don’t miss your chance to attend; register for the Global Acrylonitrile Forum today!
Chemical Market Analytics by OPIS, a Dow Jones company, provides stakeholders in the global chemical industry with next-generation analytics, deep insights, future outlooks and price discovery to improve operational efficiency. The company offers short- and long-term market coverage for more than 200 core building-block chemicals via Market Advisory Services (MAS), World Analysis (WA), Circular Plastics Service, Chemical Advisory Service and educational and networking conferences such as World Chemical Forum.