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

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.
• 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 market's rapid expansion. 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 market’s rapid expansion.
• Increasing use of Acrylic Fiber- The growing use of acrylic fibers is driving up demand for acrylonitrile. 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. Owing to this, the acrylonitrile market is predicted to grow at a significant CAGR in the upcoming years.

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 acrylonitrile business 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.
• When new, less expensive polyester fibers are introduced, demand can decline and the market's expansion could be hampered.
• It is anticipated that the demand for bio-based polymers, particularly in developed countries, may hinder the acrylonitrile market.