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Acrylonitrile Global Market Report 2024 - By Share, Growth, Trends, Analysis, Forecast To 2033
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Acrylonitrile industry. This report on Acrylonitrile market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The acrylonitrile market size has grown strongly in recent years. It will grow from $13.82 billion in 2023 to $14.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to demand from automotive industry, rise in petrochemical industry, environmental awareness, investment in research & development, infrastructure development. The acrylonitrile market size is expected to see strong growth in the next few years. It will grow to $18.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
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Key Market Players:
INEOS Group Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, Chemelot Campus, Lukoil.
Market Drivers:
According to the Acrylonitrile Market Report 2024 by The Business Research Company, the growing textile and apparel industries are expected to propel the growth of the acrylonitrile market going forward. The apparel and textile industry is divided into two major segments, textile and fabric production from raw materials and the transformation of these fabrics into clothing and other accessories. The increasing need for acrylic fibers caused by the expansion of the textile, garment, and other industries drives the demand for acrylonitrile.
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Market segments for Acrylonitrile include:
• By Application: Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene, Acrylamide, Carbon Fiber, Nitrile Rubber, Other Applications
• By End User: Automotive, Electrical & Electronics, Construction, Packaging, Other End Users.
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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