Acrylonitrile Market Size Worth USD 18.18 Billion in 2032 | Emergen Research

The global acrylonitrile market size was USD 12.72 Billion in 2022 and is expected to register a rapid revenue CAGR of 3.7% during the forecast period. The global acrylonitrile market is experiencing significant growth, driven by rising demand from the automobile and construction sectors, as well as the textile industry. Acrylonitrile, a versatile organic compound, is witnessing increased adoption in the production of polymers, propelling market revenue growth.

Acrylonitrile, known for its applications in various high-tech industries including electrical and electronics, appliances, consumer goods, construction, and automotive sectors, is emerging as a crucial material in industrial and consumer products. The compound's highly reactive nature makes it indispensable in the production of synthetic fibers and plastics.

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Key drivers of the acrylonitrile market include the surging demand for lithium-ion batteries, where acrylonitrile plays a vital role. Manufacturers are experiencing a substantial increase in orders and sales volumes, further fueling market growth. Notably, certifications like the ISCC PLUS certification obtained by Tongsuh Petrochemical Corporation highlight the industry's commitment to sustainability and innovation.

However, market growth faces challenges such as competition from alternative materials and concerns regarding the toxicity of acrylonitrile. Exposure to acrylonitrile can lead to respiratory issues and skin irritation, prompting buyers to explore safer alternatives. Additionally, stringent quality control measures and high production costs pose further obstacles to market expansion.

Segment Insights:

Manufacturing Process:

The global acrylonitrile market is segmented into propylene ammoxidation and propane ammoxidation. Propylene ammoxidation dominates the market due to its effectiveness in applications such as LED bulbs and electronic displays, where acrylonitrile's properties ensure optimal performance and longevity.

Application:

Acrylonitrile finds applications in acrylonitrile butadiene styrene (ABS), styrene-acrylonitrile resin, carbo fibers, acrylic fibers, and acrylamide. ABS, in particular, is witnessing growing adoption in automotive parts and packaging due to its durability and toughness.

End-Use:

Key end-use sectors include electrical and electronics, appliances, consumer goods, construction, automotive, and others. The consumer goods segment, driven by the demand for appliances like televisions and refrigerators, accounts for a significant share of the market. Acrylonitrile's chemical resistance and tensile strength make it an ideal material for these applications.

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Acrylonitrile Top Companies and Competitive Landscape

The global acrylonitrile market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective acrylonitrile.

Some of the major companies included in the global acrylonitrile market report are:

• Crafted Plastics Inc.
• Asahi Kasei Corporation
• Solvay
• Preffered Plastics Inc.
• AnQore
• SABIC
• RTP Company
• DSM
• Plastic Extrusion Technologies
• INEOS
• United Plastic Components Inc.
• LUKOIL
• LG Chem
• Ascend Performance Materials
• LUC Group
• Versalis S.p.A
• Taekwang Industrial Co., Ltd.
• Lenntech BV
• Mitsubishi Chemical Corporation
• Formosa Plastics Corporation

Acrylonitrile Latest Industry News

• On 8 June, 2023, INEOS Nitriles introduced its inaugural line of eco-friendly products for acrylonitrile marketed under the brand name Invireo. This breakthrough offering signifies a significant advancement in the global acrylonitrile market, offering a more environmentally sustainable and climate-conscious alternative to current options. Produced at the INEOS Nitriles facility in Cologne, Germany, Invireo is crafted from bio-based propylene, enabling it to supplant traditional fossil fuel-derived sources.

• On 12 January, 2022, Solvay and Trillium Renewable Chemicals announced to establish a bio-based acrylonitrile (bio-ACN) supply chain. Trillium will furnish Solvay with bio-ACN sourced from its forthcoming commercial ventures, and Solvay will assess the use of bio-ACN in the production of carbon fiber, aligning with its enduring commitment to creating sustainable solutions derived from biological or recycled origins. The cooperative endeavor aims to manufacture carbon fiber suitable for diverse applications, including aerospace, automotive, energy, and consumer goods.

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Acrylonitrile Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global acrylonitrile market on the basis of manufacturing process, application, end-use, and region:

• Manufacturing Process Outlook (Revenue, USD Billion; 2019-2032)
o Propylene Ammoxidation
o Propane Ammoxidation
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Acrylonitrile butadiene styrene
o Carbon fibers
o Acrylic fibers
o Acrylamide
• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Electrical and Electronics
o Appliances
o Consumer Goods
o Construction
o Automotive
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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