Market Size of Acrylonitrile Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acrylonitrile Market Analysis
The global acrylonitrile market is projected to register a CAGR of over 4.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. However, the market recovered significantly in the 2021-22 period with the increase in industrial activities that propelled higher consumption of acrylonitrile in various applications such as acrylic fiber and acrylonitrile butadiene styrene production.
- Over the medium term, the increasing demand for acrylonitrile butadiene styrene (ABS) in the automotive and construction industries and increasing applications in electronics and consumer appliances are driving the market's growth.
- On the flip side, competition from low-priced polyester fibers in the textile industry is expected to significantly hinder the growth of the market studied.
- Nevertheless, budding wastewater treatment applications is likely provide new growth opportunities for the market.
- Asia-Pacific is expected to dominate the global market and accounts for the largest share during the forecast period.
