Global Acrylonitrile Market – Industry Trends and Forecast to 2029

Global Acrylonitrile Market, By Application (Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene, Acrylamide, Carbon Fiber, Nitrile Rubber, Others), End User (Automotive, Electrical and Electronics, Construction, Packaging, Others) – Industry Trends and Forecast to 2029

Analysis and Size

Raw materials, for example ammonia, propylene, and propane are used in the manufacture of acrylonitrile. These are mostly derivatives of crude oil. Acrylonitrile provides excellent strength, durability, and heat-resistant properties. Acrylonitrile is used as a chemical intermediate for the production of extensive range of chemicals including acrylic fibers, acrylamide, acrylonitrile butadiene styrene, adiponitrile, carbon fibers, nitrile rubber, and others. Because of the higher properties such as thermal stability, chemical stability, high durability and mechanical strength, acrylonitrile and its derivatives which are extensively used in construction and industries. Acrylic fibers also have an extensive range of applications in the packaging and textile industry.

Data Bridge Market Research analyses that the acrylonitrile market was valued at USD 12.79 billion in 2021 and is expected to reach USD 17.64 billion by 2029, registering a CAGR of 4.10% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Report Scope and Market Segmentation

Market Definition

Acrylonitrile is an organic compound and the chemical formula of this compound is CH2 CHCN. It is simple organic compound because it mostly contain carbon and hydrogen atoms. Acrylonitrile is a toxic compound with a pale-yellow colour and in liquid form. Acrylonitrile is produced by combining ammonia, propylene, and air with the help of process called ammoxidation. During this process ammonia propylene, and air are fed through a catalyst at a high temperature. Acrylonitrile is harmful to the lungs, eyes, skin, and nervous system. It may cause cancer.

Acrylonitrile Market Dynamics

Drivers

• Rise the demand in textile sector

Acrylonitrile is used for the formation of Acrylic fiber which is mainly used mainly in the textile sector and it is used for the production of apparel, home textiles, and carpet flooring due to this rise the demand of acrylonitrile which are expected to increase the growth of the acrylonitrile market.

• Increase the demand in production of polymer

The acrylonitrile is also used to form acrylonitrile butadiene styrene (ABS) which provides thermal and chemical stability, whereas the butadiene component adds strength and toughness. The styrene gives the glossy and nice finished to the polymer. It is very resistant and also has high tensile strength to physical impacts and chemical corrosion, these properties allow the finished plastic to withstand heavy use.

• Usage of acrylonitrile

Acrylonitrile can be polymerized into a compound which is known as polyacrylonitrile. Here, the prefix 'poly' means many so during the polymerization many acrylonitrile molecules connected to one another and form polyacrylonitrile. Polyacrylonitrile is a very versatile polymer, and its fibers are used in many things such as bicycle frames, fishing poles, tennis rackets, and even missiles!

Opportunities

The present demand for the acrylonitrile is expected to be driven by growing demand for acrylic fibers, especially in the developing economies. The rising demand in the apparel and textile industry in emerging economies of the region because of increasing affordability and growing urbanization is projected to drive the acrylonitrile market during the forecast period. With an aesthetic appeal, acrylic fibers ultraviolet degradation, have high resistance to laundry bleach, and microbiological attack. These fibers have less weight and have a comfortable feel which is making them a great choice for clothing. Due to higher demand of acrylic fibre create the beneficial opportunities for the growth of the acrylonitrile market.

Restraints/ Challenges

Increasingly stringent environmental rules across the globe regarding the production of chemicals and their disposal into the environment are hampering the acrylonitrile market growth considerably. Workers exposed through inhalation to high levels of acrylonitrile for less than one hour experienced lots of health issues. The symptoms associated with acrylonitrile poisoning include labored and irregular breathing, limb weakness, and others that have vigorously affected human health. Increase In the use of low price polyester fiber in textile is also anticipated to obstruct the growth of acrylonitrile market.

This acrylonitrile market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the acrylonitrile market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Acrylonitrile Market

The Outbreak of COVID-19 has affected several industries. Many people ended up becoming deathly ill because of the spread of this virus. Governments authorities across the globe sought to contain the spread of COVID-19 through temporary lockdowns and quarantines. This lockdown forced the industries to either shut down entirely or dramatically slow down the production. The Acrylonitrile market was no exception to this. This market was not important and was therefore ordered to pause the production. Manufacturers of this industries which used the chemicals that this base chemical made were in a bind. They were enforced to close or dramatically slow down the production rate. This has affected some industries such as automobile and construction industries.

Recent Development

• In June 2021, The manufacture of petrochemical products in South Korea, Taekwang Industrial is the manufacture of petrochemical products will set up an plant of acrylonitrile joint venture with LG Chem in south Korea to meet the growing demand in the global market.
• In April 2021, Trillium Renewable Chemicals has announced a plan to start up a new company to manufacture chemicals from renewable feedstocks, for instance acrylonitrile, for ABS with a net-zero footprint as per CEO Corey Tyree's statement. They said that this t technology would improvethe supply chain security and the GHG (greenhouse gas) footprint of ABS makers.

Global Acrylonitrile Market Scope

The acrylonitrile market is segmented on the basis of application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Acrylic Fiber
• Adiponitrile
• Styrene Acrylonitril
• Acrylonitrile Butadiene Styrene
• Acrylamide
• Carbon Fiber
• Nitrile Rubber
• Others

End User

• Automotive
• Electrical and Electronics
• Construction
• Packaging
• Others

Acrylonitrile Market Regional Analysis/Insights

The acrylonitrile market is analysed and market size insights and trends are provided by country, application and end-user as referenced above.

The countries covered in the acrylonitrile market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the acrylonitrile market in terms of revenue and market share during the forecast period. This is due to the increasing demand for acrylonitrile in this region. The Asia-Pacific region leads the acrylonitrile market due to growing demand for acrylic fibers from home and apparel furnishing industry in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Acrylonitrile Market Share Analysis

The acrylonitrile market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to acrylonitrile market.

Some of the major players operating in the acrylonitrile market are:

• Asahi Kasei Corporation (Japan)
• Solvay (US)
• AnQore, (Netherlands)
• DSM (Netherlands)
• Ascend Performance Materials (US)
• INEOS (UK)
• LUKOIL (Russia)
• Mitsubishi Chemical Corporation (Japan)
• Taekwang Industrial Co. Ltd (South Korea)
• Formosa Plastics Corporation (Taiwan)
• Sumitomo Chemical Co., Ltd (Japan)
• Lenntech BV (Netherlands)
• Repsol (Spain)
• Versalis S.p.A (Italy)
• LG Chem (South Korea)
• LUC Group (US)
• UNITED PLASTIC COMPONENTS INC.(US)
• Plastic Extrusion Technologies (Us)
• RTP Company (US)
• Preferred Plastics, Inc. (US)
• Crafted Plastics Inc (US)
• SABIC (South Arabia)