Acrylonitrile Market to Grow by USD 2.04 Billion (2025-2029), Driven by High Demand in APAC and AI's Impact on Market Trends - Technavio

NEW YORK, Jan. 7, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global acrylonitrile market size is estimated to grow by USD 2.04 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 3.2% during the forecast period. High demand for acrylonitrile from APAC is driving market growth, with a trend towards increasing carbon fiber production. However, stringent regulations and health hazards caused by acrylonitrile poses a challenge. Key market players include AnQore, Asahi Kasei Corp., Ascend Performance Materials, China National Petroleum Corp., China Petrochemical Development Corp., Cornerstone Chemical Co., Formosa Plastics Corp., INEOS Group Holdings S.A., LG Chem Ltd., Mitsubishi Chemical Group Corp., PJSC LUKOIL, Polymir, S.S.B.POLYMERS, Sinopec Shanghai Petrochemical Co. Ltd., SOCAR Turkiye Enerji A.S., Sumitomo Chemical Co. Ltd., Taekwang Industrial Co. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd, Chemelot, Secco.

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Market Driver

Acrylonitrile is a crucial raw material in the production of carbon fiber, which is extensively used in various industries. About 90% of carbon fibers are derived from acrylonitrile-based polyacrylonitrile (PAN). Carbon fiber's strength and lightweight properties make it a preferred choice in aerospace and defense, sports and leisure, wind energy, and automotive sectors. The growing demand for carbon fiber in these industries will boost acrylonitrile consumption. In aerospace, carbon fiber is used for manufacturing aircraft and spacecraft structures and components. In sports and leisure, it is utilized in producing fishing rods, tennis racquets, and other equipment. 

The Acrylonitrile market has seen significant growth in recent years. Demand for Acrylonitrile in the performance and fiber sectors has been strong. The material's durability and resistance to heat make it a popular choice for various applications. The market for Acrylonitrile in the US and Europe is growing, with increasing demand from the automotive and textile industries. The market is also expanding in Asia, particularly in China and India, due to their large manufacturing sectors. Adhesives and polymers are major consumers of Acrylonitrile. The market is expected to continue growing, driven by increasing demand from various industries. The future looks bright for the Acrylonitrile market. 

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Market Challenges

• Acrylonitrile is a significant raw material for manufacturing acrylic fibers, ABS, SAN, adiponitrile, NBR, and acrylamide. However, it is classified as a hazardous compound by the European Chemicals Agency (ECHA) due to its toxicity to humans and the environment. The EPA identifies acrylonitrile as a carcinogen, causing health issues like mucous membrane irritation, headaches, and kidney irritation. Workers are at risk due to occupational exposure, with OEL set at 2-3 PPM and IDLH at 85 PPM. Acrylonitrile harms aquatic organisms and is not biodegradable, leading to environmental concerns. These factors may impact the growth of the acrylonitrile market.
• The Acrylonitrile market faces several challenges in its production process. Durability is a key concern, as the fiber's strength can be affected by external factors such as temperature and humidity. Carbonization is another challenge, as it can lead to the formation of unwanted by-products during the polymerization process. The use of binders is essential to prevent this issue, but they can add to the production cost. Additionally, the high energy consumption required in the production of Acrylonitrile fibers is a significant challenge for manufacturers. Lastly, the market is subject to regulatory pressures, with strict regulations regarding the use and disposal of Acrylonitrile due to its potential health hazards.

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Segment Overview 

This acrylonitrile market report extensively covers market segmentation by

1. Application 
• 1.1 ABS and SAN
• 1.2 Acrylic fibers
• 1.3 Polyacrylamide
• 1.4 Nitrile butadiene rubber
• 1.5 Others
2. End-user 
• 2.1 Electrical and electronics
• 2.2 Automotive
• 2.3 Construction
• 2.4 Packaging
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 ABS and SAN- Acrylonitrile is a significant raw material in the production of Acrylonitrile Butadiene Styrene (ABS) and Styrene-Acrylonitrile (SAN), widely used in various industries. In household appliances, ABS and SAN offer benefits like high impact resistance, excellent insulation, and weldability. The automotive sector utilizes these materials for their lightweight, impact strength, and chemical resistance properties. In construction, ABS and SAN are essential for pipes and fittings due to their durability. The electrical and electronics industry values their heat and chemical resistance. The growing demand for household appliances, automobiles, and infrastructure development will boost ABS and SAN consumption, driving the acrylonitrile market.

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Research Analysis

The Acrylonitrile Market encompasses the global demand for Acrylonitrile, a crucial Chemical Intermediate used in the production of various applications. Acrylonitrile finds significant use in the manufacturing of Acrylic Fibers, including Acrylic Fibers and Acrylamide. These fibers are widely utilized in the Textile Industry for producing Polyester Fibers and Plastics. Acrylonitrile also plays a pivotal role in the production of Adhesives and the Carbon Fiber segment. Carbon Fibers, known for their high Chemical Resistance and Thermal Stability, are essential in the Construction Industry for reinforcing materials. Moreover, Acrylonitrile is a vital component in the production of Acrylonitrile Butadiene Styrene (ABS), a popular thermoplastic material used in various industries, including Automotive and Electronics. Trillium Renewable Chemicals, a leading renewable chemical company, has been focusing on the development of sustainable Acrylonitrile production methods. The Acrylonitrile Market is driven by the increasing demand for lightweight and durable materials in various industries, such as Construction, Automotive, and Electronics. Production consumption analysis indicates a steady growth in the market, with the demand for Acrylonitrile expected to continue rising in the coming years.

Market Research Overview

The Acrylonitrile market refers to the global trade of Acrylonitrile, a versatile chemical compound used in the production of various industrial products. Acrylonitrile is primarily used in the manufacture of polymers such as polyacrylonitrile (PAN) and acrylonitrile-butadiene-styrene (ABS). These polymers find extensive applications in industries like automotive, electrical and electronics, construction, and packaging. Acrylonitrile is also used in the production of fibers, resins, and elastomers. The market for Acrylonitrile is driven by the growing demand for these end-use industries and the increasing adoption of plastics and polymers in various applications. The market is expected to grow significantly due to the rising demand for lightweight and durable materials in various sectors. The market is also influenced by factors such as raw material availability, production capacity, and regulatory frameworks.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• ABS And SAN
• Acrylic Fibers
• Polyacrylamide
• Nitrile Butadiene Rubber
• Others
• End-user
• Electrical And Electronics
• Automotive
• Construction
• Packaging
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio