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Acrylonitrile Market Size (2024 - 2029)

The acrylonitrile market is projected to experience significant growth over the forecast period, driven by increasing demand in sectors such as automotive, construction, and textiles. Despite challenges posed by regulatory concerns over toxicity, the market is expected to expand, with new opportunities arising from wastewater treatment applications. The Asia-Pacific region is anticipated to lead in terms of market share, reflecting its dominant position in the global landscape.

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Market Size of Acrylonitrile Industry

Acrylonitrile Market Summary
Study Period 2019 - 2029
Market Volume (2024) 8.25 Million tons
Market Volume (2029) 10.58 Million tons
CAGR (2024 - 2029) > 5.00 %
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

Acrylonitrile Market Analysis

The Acrylonitrile Market size is estimated at 8.25 Million tons in 2024, and is expected to reach 10.58 Million tons by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

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 the growing textile industry are expected to drive the market's growth.
  • On the flip side, growing awareness of toxicity amid strict regulations could hinder the growth of the market.
  • Nevertheless, budding wastewater treatment applications are likely to provide new growth opportunities for the market.
  • Asia-Pacific is expected to dominate the global market and account for the largest share during the forecast period.

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 computers, automobiles, and food casings, and in sports equipment.

The acrylonitrile market is segmented by application and geography. By application, the market is segmented by process technology (ammoxidation process and other production processes), by application (acrylic fiber, acrylonitrile butadiene styrene (ABS)/styrene-acrylonitrile resin (SAN), acrylamide, nitrile butadiene rubber (NBR), and other applications (carbon fiber, etc.)). The report also offers the market sizes and forecasts for 14 countries across major regions. For each segment, market sizing and forecasts were made on the basis of volume (kilotons).

Process Technology
Ammoxidation Process
Other Production Processes
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
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Middle East and Africa
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Acrylonitrile Market Size Summary

The acrylonitrile market is poised for significant growth over the forecast period, driven by increasing demand in various sectors such as automotive, construction, and textiles. The market experienced a downturn due to the COVID-19 pandemic but has since rebounded with heightened industrial activities. Acrylonitrile butadiene styrene (ABS), a key application, is gaining traction in the automotive and electronics industries due to its superior properties like strength, durability, and resistance to chemicals and heat. The expanding scope of 3D printing and the rising production of electric vehicles are further expected to bolster the demand for ABS, thereby impacting the acrylonitrile market positively.

Asia-Pacific is anticipated to lead the global acrylonitrile market, benefiting from the region's robust economic growth and increasing consumer goods sales. The rise in the middle-income population in countries like China and India is driving the demand for consumer durables, which utilize ABS resins. China's dominance in the electric car market and India's commitment to expanding electronics manufacturing are key factors contributing to market growth. The market is consolidated, with major players like INEOS and China Petroleum & Chemical Corporation holding significant shares. Recent developments, such as the launch of bio-attributed acrylonitrile products and the resumption of production lines, indicate ongoing innovation and adaptation within the industry.

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Acrylonitrile Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Acrylonitrile Butadiene Styrene (ABS) in the Automotive and Construction Industries

      2. 1.1.2 Growing Textile Industry

    2. 1.2 Restraints

      1. 1.2.1 Toxicity and Regulations of Acrylonitrile

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Supply Overview

    6. 1.6 Production Overview

    7. 1.7 Production Cost Overview

    8. 1.8 Regulatory Policy Overview

    9. 1.9 Technological Snapshot

    10. 1.10 Pricing Overview (2018-2023)

      1. 1.10.1 Pricing Overview (Acrylonitrile)

      2. 1.10.2 Raw Material Pricing

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

    1. 2.1 Process Technology

      1. 2.1.1 Ammoxidation Process

      2. 2.1.2 Other Production Processes

    2. 2.2 Application

      1. 2.2.1 Acrylic Fiber

      2. 2.2.2 Acrylonitrile Butadiene Styrene (ABS)/Styrene-Acrylonitrile Resin (SAN)

      3. 2.2.3 Acrylamide

      4. 2.2.4 Nitrile Butadiene Rubber (NBR)

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Russia

        6. 2.3.3.6 Rest of Europe

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of Latin America

      5. 2.3.5 Middle East and Africa

Acrylonitrile Market Size FAQs

The Acrylonitrile Market size is expected to reach 8.25 million tons in 2024 and grow at a CAGR of greater than 5% to reach 10.58 million tons by 2029.

In 2024, the Acrylonitrile Market size is expected to reach 8.25 million tons.

Acrylonitrile Market Report Snapshots

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