Press release
Global Acrylonitrile Market: Strong Market Growth, Profitable Trends, And Key Players To 2025 And Beyond
Acrylonitrile Market Trends
Optimistic Growth Rate & Upscaling Market Size Projected in The Global Acrylonitrile Market
What Is The Projected Market Size Of The Global Acrylonitrile Market And Its Growth Rate?
The Acrylonitrile market has witnessed impressive growth in recent years:
• Grown from $14.49 billion in 2024 at a CAGR of 5.2% to $15.25 billion in 2025
• Strong growth can be attributed to demand from automotive industry, rise in petrochemical industry, environmental awareness, investment in research & development, and infrastructure development.
• Projected to surge even further, reaching $20.06 billion in 2029 at a CAGR of 7.1%
• The growth forecast is driven by circular economy initiatives, market digitization, global trade dynamics, increasing demand for consumer appliances, and rising demand for plastics.
What Is Driving The Growth In The Acrylonitrile Market?
The acrylonitrile market's growth is being fuelled by the expansion of textile and apparel industries. Textile and apparel industry includes fabric production from raw materials and the conversion of these fabrics into clothes and other accessories. The extensive demand for acrylic fibers for the textile, garment, and other industries is driving the need for acrylonitrile. For example, handcrafted exports from India reached a whopping $2.13 billion from April 2021 to September 2021, showing a 60.34% YoY growth due to increased industry participation in promoting handicraft products in international markets. Along with this, by 2030, India's cotton production is anticipated to reach 7.2 million tons, stirred by growing consumer demand. These factors, among others, are driving the growth of the acrylonitrile market.
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Who Are The Key Players Driving Acrylonitrile Market Growth?
Significant players contributing to the acrylonitrile market growth include:
• INEOS Group Limited
• Asahi Kasei Corporation
• Mitsubishi Chemical Corporation
• Chemelot Campus
• Lukoil
• Lenntech B.V.
• Sumitomo Chemical Company Limited
• Ascend Performance Materials LLC
• Taekwang Industrial Co. Ltd., And others.
What Are The Key Trends In The Acrylonitrile Market?
Prominent trends in the acrylonitrile market include:
• Bio-based acrylonitrile
• Sustainable production
• Technological advancements
• Innovation in blended materials
• Energy efficiency
What Are The Segments Of The Global Acrylonitrile Market?
The acrylonitrile market in this report is bifurcated:
• 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
Which Region Leads The Acrylonitrile Market?
As of 2024, the largest region in the acrylonitrile market was Asia-Pacific, followed by North America. Market coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Acrylonitrile Market Global Market Report?
- Market Size Analysis: Analyze the Acrylonitrile Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Acrylonitrile Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Acrylonitrile Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Acrylonitrile Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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