Acrylonitrile Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Acrylonitrile Market Size & Trends and it is Segmented by Application (Acrylic Fiber, Acrylonitrile Butadiene Styrene (ABS)/Styrene-Acrylonitrile Resin (SAN), Acrylamide, Nitrile Butadiene Rubber (NBR), and Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Acrylonitrile Market in volume (kilo tons) for all the above segments.

Acrylonitrile Market Size

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Acrylonitrile Market Summary
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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

Acrylonitrile Market 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.

Acrylonitrile Market Trends

This section covers the major market trends shaping the Acrylonitrile Market according to our research experts:

Rising Demand from Acrylonitrile Butadiene Styrene (ABS) Application

  • Acrylonitrile butadiene styrene (ABS) is a thermoplastic that provides a diverse combination of properties, like resistance to chemicals, heat, and impact.
  • The consumption of ABS resins is increasing in the consumer appliances segment. ABS finds application in various end-user industries such as oil and gas, food handling and equipment, oil and gas, aircraft, defense, and aerospace.
  • Due to Acrylonitrile butadiene styrene's superior properties, such as strength and durability at low temperatures, it is widely used in the automotive and electronics industries. Due to its superior properties, such as lightweight, strength, and durability at low temperatures, it is widely used in the automotive and electronics industries.
  • Additionally, growing developments in 3D printing around the world are also projected to increase the scope of application for ABS in the near future.
  • According to the IEA 2021 Outlook, worldwide electric car sales doubled in 2021 and reached 6.6 million. The sales increased strongly in 2022, with 2 million electric cars sold across the globe in the first quarter of 2022.
  • According to Ministry of Electronics and Information Technology, India committed to reach USD 300 billion worth of electronics manufacturing and exports by 2025-26. The country has seen a gwowth of over 2.3 times in domestic electronics production in 6 years; from USD 29 billionn in FY15 to USD 67 billion in FY21.
  • All the aforementioned factors are expected to show an impact on the demand for acrylonitrile during the forecast period.
Acrylonitrile Market - Volume CAGR (%), by Application, Global, 2022-2027

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific dominated the worldwide market with a significant market share. The Asia-Pacific market is expected to witness faster growth in comparison to other countries, owing to the significant increase in the per-capita income of the middle-class population and the resultant increase in the sales of consumer goods in the region.
  • The appliance market in China is likely to continue to grow as the middle-class population grows since this group purchases more consumer-durable electronic goods that use ABS resins. According to statistics from According to All View Cloud (AVC), China's kitchen electrical appliances market was valued at RMB152.8 billion (~USD 21.86 billion) in 2021.
  • China is the global leader in the electric car market. The Chinese government is providing strong financial and non-financial incentives to boost electric car sales. The statistics from the China Passenger Car Association show that total passenger EV sales in China in 2021 jumped 169.1% from a year ago to nearly 2.99 million: about half of all EVs sold globally.
  • According to Government of India, 1.32% of all vehicle sales in FY21-22 were electric. In April 2022, the electric car sales was 2,161 which grew in May to 2,855 and has shown continuous upward trends reaching 3,419 in September 2022.
  • Japan pledged to become net-zero by 2050 and slash emissions by 46% by 2030. The government recognises the shift to EVs as being a way of supporting the country's decarbonisation efforts. The government plans to make EVs more affordable for consumers. The subsidies in Japan are reaching a maximum of 800,000 yen (USD 7,000).
  • The above-mentioned factors are expected to further drive the demand in the acrylonitrile market over the forecast period.
Acrylonitrile Market - Growth Rate by Region, 2022-2027

Acrylonitrile Industry Overview

The acrylonitrile market is a consolidated market, with the top five players accounting majority of the global market. Some of the major players in the market studied include INEOS, China Petroleum & Chemical Corporation, Asahi Kasei Corporation, Ascend Performance Materials, and AnQore, among others.

Acrylonitrile Market Leaders

  1. INEOS

  2. China Petroleum & Chemical Corporation

  3. Asahi Kasei Corporation

  4. Ascend Performance Materials

  5. AnQore

*Disclaimer: Major Players sorted in no particular order

Acrylonitrile Market Concentration
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Acrylonitrile Market News

  • In January 2022, Asahi Kasei announced to foray into the production of acrylonitrile using biomass-derived raw material. Tongsuh Petrochemical Corp., Ltd. (TSPC), Asahi Kasei's wholly-owned subsidiary in South Korea, acquired the international certification ISCC PLUS1 for its acrylonitrile as a sustainable product. The company had scheduled to commence the production of acrylonitrile using biomass propylene in February 2022.
  • In July 2022, INEOS acquired 50% of Sinopec subsidiary SECCO Petrochemical Co. Ltd., which produces 4.2 million tonnes per year of olefins, polymers, and other derivatives-including ethylene, propylene, acrylonitrile, and others. The plant is a 200-hectare complex inside the Shanghai Chemical Industry Park.

Acrylonitrile Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Acrylonitrile Butadiene Styrene (ABS) in the Automotive and Construction Industries

      2. 4.1.2 Increasing Applications in Electronics and Consumer Appliances

    2. 4.2 Restraints

      1. 4.2.1 Competition from Low-priced Polyester Fibers in the Textile Industry

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

    6. 4.6 Feedstock Analysis

    7. 4.7 Trade Analysis

    8. 4.8 Price Trends

    9. 4.9 Production Analysis (Capacity of Major Producers)

    10. 4.10 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Acrylic Fiber

      2. 5.1.2 Acrylonitrile Butadiene Styrene (ABS) / Styrene-Acrylonitrile Resin (SAN)

      3. 5.1.3 Acrylamide

      4. 5.1.4 Nitrile Butadiene Rubber (NBR)

      5. 5.1.5 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Russia

        6. 5.2.3.6 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AnQore

      2. 6.4.2 Asahi Kasei Advance Corporation

      3. 6.4.3 Ascend Performance Materials

      4. 6.4.4 China Petrochemical Development Corporation

      5. 6.4.5 China Petroleum & Chemical Corporation

      6. 6.4.6 Cornerstone Chemical Company

      7. 6.4.7 INEOS

      8. 6.4.8 LUKOIL

      9. 6.4.9 Mitsubishi Chemical Corporation

      10. 6.4.10 Petkim Petrokimya Holding AŞ

      11. 6.4.11 Polymir

      12. 6.4.12 Reliance Industries Limited

      13. 6.4.13 Sumitomo Chemical Co. Ltd

      14. 6.4.14 Taekwang Industrial Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Budding Wastewater Treatment Applications

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Acrylonitrile Industry Segmentation

Acrylonitrile is a colorless volatile flammable liquid nitrile used chiefly in organic synthesis and for polymerization. Acrylonitrile provides excellent durability, strength, and heat-resistant properties. Acrylonitrile is the key ingredient in acrylic fibers used to make clothing, in plastics used to make computer, automobile, and food casings, and in sports equipment. The acrylonitrile market is segmented by application and geography. By application, the market is segmented by acrylic fiber, acrylonitrile butadiene styrene (ABS) / styrene-acrylonitrile resin (SAN), acrylamide, nitrile butadiene rubber (NBR), and other applications. The report also offers the market size and forecasts for 16 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of volume (kilo tons).

Application
Acrylic Fiber
Acrylonitrile Butadiene Styrene (ABS) / Styrene-Acrylonitrile Resin (SAN)
Acrylamide
Nitrile Butadiene Rubber (NBR)
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Acrylonitrile Market Research FAQs

The Acrylonitrile Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

INEOS, China Petroleum & Chemical Corporation, Asahi Kasei Corporation, Ascend Performance Materials and AnQore are the major companies operating in the Acrylonitrile Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Acrylonitrile Market.

The report covers the Acrylonitrile Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Acrylonitrile Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Acrylonitrile Industry Report

Statistics for the 2024 Acrylonitrile market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Acrylonitrile analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Acrylonitrile Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)