How Has the Acrylonitrile Market Performed and What Are Its Future Projections?
The acrylonitrile market has seen a solid growth curving from $14.49 billion in 2024 to an anticipated $15.25 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. The substantial growth is mainly due to demand from the automotive industry, rise in the petrochemical industry, environmental awareness, investment in research & development, and infrastructure development.
Looking ahead, the acrylonitrile market is projected to hit $20.06 billion by 2029 at a CAGR of 7.1%. This steady expansion can be attributed to factors such as circular economy initiatives, market digitization, dynamic global trade, increasing demand for consumer appliances, and a surging demand for plastics. Major trends in the forecast period include bio-based acrylonitrile, sustainable production, technological advancements, blended material innovations, and energy efficiency.
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What Are the Major Growth Drivers of the Acrylonitrile Market?
The growth of the textile and apparel industries is spearheading the expansion of the acrylonitrile market. The influx of acrylic fibers driven by growth in textile, garment, and other industries is fueling acrylonitrile demand. For instance, handicraft exports from India surged 60.34% YoY, reaching $2.13 billion between April 2021 and September 2021. This is predicted to steepen with predictions of India’s cotton production touching 7.2 million tons by 2030, primarily due to rising consumer demand.
What Constitutes the Acrylonitrile Market?
The acrylonitrile market segments include:
1) Applications: Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene, Acrylamide, Carbon Fiber, Nitrile Rubber, Other Applications
2) End User: Automotive, Electrical & Electronics, Construction, Packaging, Other End Users
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Who Are the Major Players in the Acrylonitrile Market?
Key companies operating in the acrylonitrile market span INEOS Group Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, Chemelot Campus, Lukoil, Lenntech B.V., Sumitomo Chemical Company Limited, Ascend Performance Materials LLC, and many more.
What New Trends are Emerging in the Acrylonitrile Market?
Companies are keen on product innovation, such as Invireo TM, which offers clients a sizeable carbon footprint reduction compared to traditional fossil acrylonitrile. For instance, INEOS Nitriles introduced InvireoTM in June 2023, a bio-attributed line for acrylonitrile, which curbs the carbon footprint of the end product by over 90%.
Which Region Dominates the Acrylonitrile Market?
In 2024, Asia-Pacific was the largest market for acrylonitrile, closely tailed by North America. The report also covers acrylonitrile market trends across Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does the Acrylonitrile Market Report 2025 Offer?
Acrylonitrile refers to a toxic, colorless, pale-yellow liquid, also an organic compound with the formula CH₂CHCN. Primarily used as a raw material in the manufacture of acrylic and modacrylic fibers, its applications cover various sectors. These sectors include plastics (acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN)), nitrile rubbers, nitrile barrier resins, adiponitrile, and acrylamide. The Acrylonitrile Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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