The acrylonitrile global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Acrylonitrile Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The acrylonitrile market size has grown strongly in recent years. It will grow from $13.82 billion in 2023 to $14.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to demand from automotive industry, rise in petrochemical industry, environmental awareness, investment in research & development, infrastructure development .
The acrylonitrile market size is expected to see strong growth in the next few years. It will grow to $18.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to circular economy initiatives, market digitization, global trade dynamics, increasing demand for consumer appliances, rising demand for plastics . Major trends in the forecast period include bio-based acrylonitrile, sustainable production, technological advancements, innovation in blended materials, energy efficiency.
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Scope Of Acrylonitrile Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Acrylonitrile Market Overview
Market Drivers –
The growing textile and apparel industries are expected to propel the growth of the acrylonitrile market going forward. The apparel and textile industry is divided into two major segments, textile and fabric production from raw materials and the transformation of these fabrics into clothing and other accessories. The increasing need for acrylic fibers caused by the expansion of the textile, garment, and other industries drives the demand for acrylonitrile. For instance, in April 2022, according to a report shared by India Brand Equity Foundation (IBEF), an Indian government export promotion agency, handcrafted exports from India reached $ 2.13 billion between April 2021 and September 2021, a 60.34% YoY growth due to increased industry participants’ participation in promoting handicraft products in international markets. In addition, by 2030, India’s cotton production is expected to reach 7.2 million tons (or 43 million bales of 170 kg each), spurred by rising consumer demand. Therefore, the growth in the textile and apparel industries is driving the growth of the acrylonitrile market.
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
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Regional Insights –
Asia-Pacific was the largest region in the acrylonitrile market in 2023. 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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Acrylonitrile Market Characteristics
3. Acrylonitrile Market Trends And Strategies
4. Acrylonitrile Market – Macro Economic Scenario
5. Global Acrylonitrile Market Size and Growth
…..
32. Global Acrylonitrile Market Competitive Benchmarking
33. Global Acrylonitrile Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Acrylonitrile Market
35. Acrylonitrile Market Future Outlook and Potential Analysis
36. Appendix
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