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Global Acrylonitrile Market Worth $19.49 Billion by 2029, Growing at 6.8% CAGR
Acrylonitrile Market
Acrylonitrile Market Outlook: What Size And CAGR Are Anticipated By 2025?
The acrylonitrile market has been consistently expanding in the past few years. It's projected to increase from $14.49 billion in 2024 to $14.97 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 3.3%. Factors contributing to its growth during the historical period include the demand from the automotive sector, expansion of the petrochemical industry, rising environmental consciousness, investment in research and development, and infrastructural growth.
What Is the Expected CAGR for the Acrylonitrile Market Growth Through 2029?
The market size of acrylonitrile is projected to witness robust expansion in the coming years, reaching up to $19.49 billion by 2029 with a compound annual growth rate (CAGR) of 6.8%. This growth in the predicted time frame can be accredited to factors such as circular economy drives, market digitalization, alterations in global trade, heightened consumer appliances demand, and an increased need for plastics. Predominant trends expected during this forecast period encompass bio-based acrylonitrile, eco-friendly production, technological progress, innovative blend materials, and energy efficiency.
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What Are the Primary Drivers Behind Acrylonitrile Market Growth?
The acrylonitrile market is poised for growth, fueled by the expanding textile and apparel sectors. These industries are broadly split into two principal components, the production of textiles and fabric from raw materials, and the evolution of these textiles into garments and additional accessories. The growing need for acrylic fibers, owing to the development of the textile, apparel, and other sectors, is fostering the demand for acrylonitrile. For instance, in April 2022, India Brand Equity Foundation (IBEF), a government agency promoting exportation in India, revealed that handcrafted exports from India had surged to $2.13 billion between April 2021 and September 2021, marking a year-on-year growth of 60.34%, thanks to the increased engagement of industry players in advancing handicraft products in global markets. Furthermore, it's forecasted that by 2030, India's cotton production will hit 7.2 million tons (equivalent to 43 million bales of 170 kg each), stimulated by climbing consumer demand. As a result, the growth of the textile and apparel sectors is pushing the rise of the acrylonitrile market.
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What Are the Key Segments Driving Acrylonitrile Market Growth?
The acrylonitrile market covered in this report is segmented -
1) By Application: Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene, Acrylamide, Carbon Fiber, Nitrile Rubber, Other Applications
2) By End User: Automotive, Electrical & Electronics, Construction, Packaging, Other End Users
Subsegments:
1) By Acrylic Fiber: Textiles, Industrial Uses
2) By Adiponitrile: Nylon Production, Polymer Intermediates
3) By Styrene Acrylonitrile (SAN): Packaging, Consumer Goods
4) By Acrylonitrile Butadiene Styrene (ABS): Automotive Components, Electronics, Consumer Goods
5) By Acrylamide: Water Treatment Chemicals, Soil Stabilizers, Other Industrial Applications
6) By Carbon Fiber: Aerospace and Aviation, Automotive, Sports Equipment
7) By Nitrile Rubber: Automotive Seals and Hoses, Disposable Gloves, Gaskets and O-Rings
8) By Other Applications: Adhesives, Coatings, Specialty Chemicals
What Are the Technological Trends Impacting the Acrylonitrile Market?
In the acrylonitrile market, leading corporations are prioritizing the development of innovative products, such as InvireoTM, to deliver trustworthy services to their customers. InvireoTM serves as an acrylonitrile solution, offering a significant decrease in carbon footprint compared to its conventional fossil-based counterpart. For example, INEOS Nitriles, a UK petrochemicals producer, launched InvireoTM in June 2023 as a range of bio-attributed products for acrylonitrile, created using sustainable feedstock. InvireoTM has the capability to reduce the end product's carbon footprint by over 90%.
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Who Are the Major Competitors in the Global Acrylonitrile Market?
Major companies operating in the acrylonitrile market 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., Repsol S.A., China Petroleum & Chemical Corporation (Sinopec), Solvay S.A., Shanghai Secco Petrochemical Company Limited, Formosa Plastics Corporation, LUC Group, Taixing Yangzi River Petrochemical Co. Ltd., CNPC Jilin Chemical Group, Reliance Industries Limited, Lotte Chemical Corporation, Toray Industries Inc., Thai Acrylic Fiber Co. Ltd., Gihi Chemicals Co., Blackwell Plastics, CHIMEI, Zibo Qixiang Tengda Chemical Co. Ltd., CPDC (Chang Chun Plastics Co. Ltd.), LG Chem, Krada CPS Industry S.L, Nanjing Chemical Material Corp.
Which Region Dominates the Acrylonitrile Market Share in 2025?
Asia-Pacific was the largest region in the acrylonitrile market in 2024. North America was the second-largest region in the acrylonitrile market. The regions covered in the acrylonitrile market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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