Acrylonitrile Market Size & Share, by Manufacturing Process (Propylene Ammoxidation, Propane Ammoxidation); Application (Acrylonitrile Butadiene Styrene, Acrylic Fibers, Carbon Fiber, Nitrile Rubber, Adiponitrile, Styrene-Acrylonitrile Resin, Polyacrylamide); End-use Industry (Building & Construction, Automotive, Packaging, Electrical & Electronics, Consumer Goods, Medical & Pharmaceuticals, Textile) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5973
  • Published Date: May 29, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Acrylonitrile Market size was over USD 12 Billion in 2023 and is set to reach USD 19 Billion by the end of 2036, witnessing around 4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of acrylonitrile is estimated at USD 12.48 Billion.

Acrylonitrile demand is being driven by the expanding construction industry, which is expected to have a favorable impact on industrial growth. Derivatives of acrylonitrile are used in the construction sector to make products such nitrile rubber, acrylonitrile butadiene styrene, acrylic fiber, acrylamide, and carbon fiber. The US Census Bureau stated that construction industry spending in March 2024 is predicted at a seasonally adjusted value of USD 2,083.9 billion.


Acrylonitrile Market
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Acrylonitrile Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing need in the medical field - Propylene and other materials are used to manufacture acrylonitrile, which finds extensive use in the pharmaceutical and medical industries for a variety of products including drug delivery systems, insulin pens, tiny implants, and respiratory devices. The India Brand Equity Foundation (IBEF) projects that the country's pharmaceutical industry would grow to be worth USD 65 billion by 2024 and USD 120–130 billion by 2030.

    Acrylic fibers find application in a range of medical contexts, including surgical gowns, bed linens, and wound dressings. The requirement for acrylonitrile, a necessary component in the creation of acrylic fibers utilized in various applications, is rising along with the demand for healthcare products, leading to acrylonitrile market expansion.
  • Prosperous development in the electronics sector - Because of its exceptional qualities, including its high impact resistance, insulation, and lightweight nature, acrylonitrile finds extensive use in the electrical and electronics industry for products such as computer cases, electronic devices, and home appliances.

    Urbanization, a rising production base, and the strong demand for consumer electronics are all contributing to the electronics industry's rapid expansion. Globally, the number of people living in cities increased dramatically from 751 million in 1950 to 4.2 billion in 2018.
     
  • Increasing use of acrylic fiber - The growing use of acrylic fibers is driving up demand in acrylonitrile market. Furthermore, the Asia Pacific region's expanding textile and apparel sectors will aid in the development of the industry due to the region's fast urbanization.

    Acrylic fibers are very resistant to UV damage, microbiological attack, and laundry bleach. Because they are lightweight, these fibers are great choices for clothing. It serves as the primary raw material in the production of acrylic fibers. The textile and apparel industries employ acrylic fiber because of its excellent performance and lightweight nature.

    However, the emergence of new, less priced polyester fibers may cause the demand to decline. Additionally, it is predicted that the market for acrylic fibers will be hampered by the desire for bio-based polymers, especially in developed nations. Polymers made from renewable "raw materials" may soon challenge over-the-counter plastics as annual sales increase by 20% to 30%.

Challenges

  • Negative effects of acrylonitrile - When acrylonitrile comes into contact with open flames, it can catch fire and explode. Environmental exposure to acrylonitrile has negative effects on soil, air, water, and other substances. It forms photochemical smog, which harms the environment, when it combines with formaldehyde and other volatile organic compounds (VOCs), hydrogen cyanide, and other substances.

    Furthermore, acrylonitrile poses a serious risk to human health because it can cause serious side effects as breathing difficulties and skin irritations, among others. The increasing amount of acrylonitrile trash being disposed of outdoors has an effect on the atmosphere. The market thus faces a significant slowdown as a result of the preventative and environmental restrictions that impact the applicability and expansion scope for acrylonitrile and other types.
     
  • Price fluctuations for basic materials - Propylene and ammonia are needed to produce acrylonitrile, and their costs might fluctuate because of a number of causes, including imbalances in supply and demand, geopolitical unrest, and natural calamities. These price swings may have an impact on manufacturers' profit margins and consumer prices, which in turn may have an effect on the acrylonitrile market.

Acrylonitrile Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

4%

Base Year Market Size (2023)

USD 12 Billion

Forecast Year Market Size (2036)

USD 19 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Acrylonitrile Segmentation

Application (Acrylonitrile Butadiene Styrene, Acrylic Fibers, Carbon Fiber, Nitrile Rubber, Adiponitrile, Styrene-Acrylonitrile Resin, Polyacrylamide)

Acrylonitrile butadiene styrene segment is poised to capture acrylonitrile market share of around 20% by the end of 2036. Within the consumer appliances sector, acrylonitrile butadiene styrene resin usage is rising. Several end-user sectors, such as food handling and equipment, oil and gas, aircraft, defense, and aerospace, employ acrylonitrile butadiene styrene. Due to its remarkable properties, including as strength and endurance at low temperatures, acrylonitrile butadiene styrene is widely used in the electronics and automotive industries.

It is widely used in the electronics and automotive industries because of its remarkable qualities, which include strength, low-temperature durability, and lightweight nature. According to the International Energy Agency 2021 Outlook, sales of electric vehicles will double from 2020 levels to 6.6 million worldwide in 2021. 2 million electric vehicles were sold globally in the first quarter of 2022, indicating a sharp increase in sales. Furthermore, acrylonitrile butadiene styrene is expected to find more uses in the near future as a result of global advancements in 3D printing, leading to market expansion in this segment.

End-use Industry (Building & Construction, Automotive, Packaging, Electrical & Electronics, Consumer Goods, Medical & Pharmaceuticals, Textile)

Consumer goods segment in the acrylonitrile market is set to observe more than 1.14% growth through 2036. The segment's growth can be attributed to the increasing demand for appliances such as refrigerators and televisions. Globally, there were approximately 660 million smart TVs in use in 2021. In 2019, the size of the worldwide smart TV industry was estimated to be USD 191.6 billion. Acrylonitrile is an excellent choice because of its exceptional chemical resistance and superior tensile strength.

By using acrylonitrile components, appliance manufacturers can drastically lower the overall weight of their products while also improving design and heat resistance. Additionally, the corrosion resistance of acrylonitrile guarantees strength and durability, prolonging the life of consumer items. Additionally, the electrical insulation and ultraviolet (UV) stability of acrylonitrile enable the precise and complex manufacture of electrical components, promoting design flexibility and innovation in kitchenware and electrical appliances.

Our in-depth analysis of the market includes the following segments:

          Manufacturing Process

  • Propylene Ammoxidation
  • Propane Ammoxidation

           Application

  • Acrylonitrile Butadiene Styrene
  • Acrylic Fibers
  • Carbon Fiber
  • Nitrile Rubber
  • Adiponitrile
  • Styrene-Acrylonitrile Resin
  • Polyacrylamide

           End-use Industry

  • Building & Construction
  • Automotive
  • Packaging
  • Electrical & Electronics
  • Consumer Goods
  • Medical & Pharmaceuticals
  • Textile

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Acrylonitrile Industry - Regional Synopsis

APAC Market Statistics

Asia Pacific acrylonitrile market is set to account for revenue share of more than 50% by the end of 2036. The textile and home furnishings sectors' growing demand are anticipated to have a beneficial impact on the market segment. It was predicted by World Bank that between 2024 and 2028, consumer expenditure in Asia on apparel and footwear will rise steadily by a total of USD 27.8 billion (+35.8%). It is predicted that fashion-related spending would reach 105.4 billion dollars in 2028, marking a new peak following eight years of growth.

China is prioritizing the development of new residential and commercial structures, and this trend is anticipated to continue. The regional market is also driven by elements like the growing need for energy-efficient building materials and developments in civil construction. Government statistics indicates that 77% of China's 2020 new urban construction projects were classified as green buildings.

Two examples of acrylonitrile-based polymers used in consumer goods packaging in the Japanese region are acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN). These polymers are robust and resistant to impacts. By 2024, value added from Japan's consumer products sector is expected to reach USD 359.30 billion.

The transition towards sustainable and bio-based chemical products is anticipated to be a significant driver of growth for acrylonitrile enterprises in the Korean peninsula. Renowned Korean chemicals manufacturer LG Chem revealed plans to introduce new plant-based raw material-based acrylonitrile butadiene styrene (ABS) products.

North America Market Analysis

The North America region will also encounter huge growth for the acrylonitrile market in this region. The strong presence of important corporations like Ascend Performance Material in the U.S. Over the projection period, market growth is anticipated to be aided by the aforementioned companies' primary focus on new product advancements in the industries of construction and automobiles. Approximately 10 million units are produced annually by American manufacturers. Two notable outliers were the 5.7 million cars produced in 2009 and the 8.8 million cars produced in 2020 as a result of the global COVID-19 pandemic.

In the United States, there is a growing need for environmentally friendly materials, which may support the future sales of bio-based acrylonitrile. A renewable acrylonitrile pilot production facility was being built in Charleston, West Virginia, in April 2022. Trillium Renewable Chemicals was constructing the facility, which was anticipated to cut gas emissions for acrylonitrile produced from petroleum feedstock by 70% when compared to conventional manufacturing methods.

Research Nester
Acrylonitrile Market Size
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Companies Dominating the Acrylonitrile Landscape

    A selected group of companies, notably Sinopec Group, Sumitomo Chemicals, Ascend Performance Materials, and Mitsubishi Chemical Corp., control a disproportionate amount of the global sector. Businesses are investing large sums of money in R&D to create new products and improve existing processes.

     

    • INEOS
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • China Petrochemical Development Corporation
    • Ascend Performance Materials
    • Chemelot
    • Formosa Plastics Corporation
    • Secco Sistemi
    • Solvay
    • Trillium Renewable Chemicals
    • Taekwang Industrial Co., Ltd.
    • Lenntech B.V.

In the News

  • INEOS Nitriles, called InvireoTM, acrylonitrile's first bio-attributed product line. The state-of-the-art INEOS Nitriles factory in Cologne, Germany, will produce the recently announced product. InvireoTM is produced by using bio-attributed propylene, which allows traditional fossil fuel resources to be substituted. This product is revolutionary because it uses renewable feedstock, which lowers greenhouse gas emissions and helps conserve natural resources. INEOS has been certified by both the International Sustainability & Carbon Certification (ISCC Plus) and the Roundtable on Sustainable Biomaterials (RSB).
  • Solvay unveiled LTM 350, a cutting-edge carbon fiber epoxy prepreg tooling material intended to save a great deal of time and money for the race car, automotive, aerospace, and industrial sectors. The carbon fiber epoxy tooling material provides a low-temperature, quick-curing cycle (three hours at 60°C). Additionally, can also be allowed to cure for longer periods of time at temperatures as low as 45°C. LTM 350 tools are capable of being repeatedly cycled at temperatures as high as 150°C to create composite parts with exceptional precision.

Author Credits:  Rajrani Baghel


  • Report ID: 5973
  • Published Date: May 29, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of acrylonitrile was over USD 12 billion.

The market size for acrylonitrile is projected to cross USD 19 billion by the end of 2036 expanding at a CAGR of 4% during the forecast period i.e., between 2024-2036.

The major players in the market are China Petrochemical Development Corporation, Ascend Performance Materials, Chemelot, Formosa Plastics Corporation, Secco Sistemi, Solvay, Trillium Renewable Chemicals, Taekwang Industrial Co., Ltd., Lenntech B.V., and others.

The acrylonitrile butadiene styrene segment is anticipated to garner a share of 30% during 2024-2036.

The Asia Pacific acrylonitrile sector is poised to hold 50% share by the end of 2036.
Acrylonitrile Market Report Scope
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