A Summary of the Acrylonitrile Market Development (2023 to 2033)
As per Future Market Insights, the Acrylonitrile market is anticipated to attain a value pool of US$ 13 Billion by 2023-end. Global demand for Acrylonitrile is expected to rise at a CAGR of 4.4% to US$ 20 Billion in 2033.
The Fiber Revolution: How Acrylonitrile is fuelling the Growth of Synthetic Fibres
Demand for synthetic fibers: Acrylonitrile is a key component in the production of synthetic fibres, such as acrylic fibres, which are used in a wide range of applications, including clothing, carpets, and upholstery. As the demand for synthetic fibres continues to grow, so too does the demand for acrylonitrile.
Increasing demand for acrylic fibres in the healthcare industry: Acrylic fibres are used in a wide range of medical applications, including wound dressings, surgical gowns, and bed linens. As the demand for healthcare products continues to grow, so too does the demand for acrylonitrile, which is a key component in the production of acrylic fibres used in these applications.
Carbon Fiber: The Material of the Future and the Opportunity for Acrylonitrile
Increasing demand for carbon fibres: Acrylonitrile is an essential raw material for the production of carbon fibres, which are widely used in various applications, including aerospace, automotive, and construction. The demand for carbon fibres is expected to grow rapidly in the coming years, creating a significant opportunity for the acrylonitrile market.
Growing demand for high-performance polymers: Acrylonitrile is used as a monomer in the production of several high-performance polymers, such as polyacrylonitrile (PAN) and acrylonitrile-butadiene-styrene (ABS). The growing demand for these high-performance polymers in various industries, such as electronics and automotive, is expected to drive the growth of the acrylonitrile market.
Rising demand for acrylamide: Acrylamide is a key intermediate chemical that is derived from acrylonitrile. It is widely used in the production of water treatment chemicals, papermaking chemicals, and various other products. The growing demand for these products is expected to boost the demand for acrylamide, creating an opportunity for the acrylonitrile market.
Increasing demand for specialty chemicals: Acrylonitrile is a key raw material for the production of specialty chemicals, such as nitrile rubber, adiponitrile, and methacrylonitrile. The demand for these specialty chemicals is expected to grow in various industries, including automotive, construction, and healthcare, providing a significant opportunity for the acrylonitrile market.
Advancements in technology: Advancements in technology, such as the development of bio-based acrylonitrile, are expected to create new opportunities for the acrylonitrile market. Bio-based acrylonitrile is produced from renewable sources, such as biomass and waste products, and is considered a more sustainable alternative to conventional acrylonitrile. The growing demand for sustainable products is expected to drive the growth of bio-based acrylonitrile, creating new opportunities for the acrylonitrile market.
Green is the New Black: The Rise of Bio-Based Acrylonitrile Products
Rising demand for bio-based acrylonitrile: The growing focus on sustainability and environmental concerns is driving the demand for bio-based acrylonitrile. Bio-based acrylonitrile is produced from renewable sources, such as biomass and waste products, and is considered a more sustainable alternative to conventional acrylonitrile.
Fluctuating prices of raw materials: The acrylonitrile market is highly dependent on the prices of its raw materials, such as propylene, ammonia, and natural gas. The volatility in the prices of these raw materials is expected to affect the profitability of acrylonitrile manufacturers and may lead to fluctuations in the prices of acrylonitrile.
Shift towards lightweight materials: The automotive and aerospace industries are increasingly focusing on developing lightweight materials to improve fuel efficiency and reduce emissions. Acrylonitrile is used in the production of carbon fibres, which are lightweight and strong and are widely used in these industries.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 13 Billion
Projected Market Value in 2033
US$ 20 Billion
Growth Rate (2023 to 2033)
4.4% CAGR
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Acrylonitrile Market Overview
According to the latest research conducted, the demand for Acrylonitrile is anticipated to grow with a compelling growth rate of about 3.5% to 5.0% in between the coming assessment period of 2021-2031.
Ammonia, propylene and propane are used as raw materials for the production of acrylonitrile. It is used in many industries for the production of a variety of polymers and thermoplastics. Some major uses include acrylic fibres, nitrile rubber, ABS and others.
The increasing demand for acrylic fibres manufactured from acrylonitrile is expected to drive the market over the forecast period. It is also one of the primary raw materials in the production of plastics and composites, which is further anticipated to propel its global demand.
What is Driving Demand for Acrylonitrile
Major factors driving the market are the growing demand from construction industry and automotive industry. The extensive usage of acrylonitrile in the building sector for headliners, interior grills, centre consoles, and other applications is one of the primary drivers driving the market's growth. The construction industry's rapid rise has fueled the market demand.
It is also used in the automotive industry to make critical components such as seatbelts, instrument panels, dashboards, and other such items. The increased usage of nitrile rubber and other plastics in automotive manufacturing aids in weight reduction and efficiency gains. These are the primary drivers of market growth over the forecast period.
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Growth of Textile and Automotive Industry Increases the Demand of Acrylonitrile
The growing textile and apparel industry in emerging economies of the Asia-Pacific region, due to rising urbanization and increasing affordability is anticipated to drive the market for acrylic fibre over the forecast period.
Acrylic fibres are used extensively in the textile and packaging industries. They possess high resistance to laundry bleach, ultraviolet degradation, and microbiological attack, along with an aesthetic appeal.
These fibres are also light in weight and have a comfort feel the softness, making them a great choice for clothing. People's lifestyles have changed dramatically as a result of rapid urbanisation. As cities grow, so does the demand for transportation.
To meet this rising demand, many vehicle manufacturers have developed industrial operations in various regions of the world. As the need for car parts, accessories, and raw materials has grown, so has the demand for spare parts, accessories, and raw materials.
Acrylonitrile is a chemical substance that is used to make bumpers, dashboards, seats, lighting equipment, centre consoles, and headliners for automobiles. In recent years, such broad applications have significantly expanded the scope of this substance in the market.
APAC Market Outlook
Due to the rapid expansion of the automotive and construction industries in the region's growing countries, the Asia-Pacific region accounts for a large portion of the worldwide acrylonitrile market.
In China and India, high demand for electrical and electronics, household appliances, gadgets, and autos is boosting market growth.
The top importers in the region are China, India, and Korea. China is also a major manufacturer of the chemical. Moreover, the demand for acrylic fibres in the garment and home furnishings industries is increasing.
Increased demand for acrylonitrile in China has come from an expansion in the manufacturing of electrical and electronic goods in the country over the years.
China is the world's largest market for electric vehicles. The market is being driven by the country's expanding demand for electric automobiles.
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Europe and North America Demand Outlook
The market in North America is also expected to grow rapidly due to an increase in demand for lightweight materials in the transportation sector. The acrylonitrile market in Europe is also expected to grow steadily due to its high demand in the region's large automotive industry, particularly in the production of heavy-duty vehicles.
The expanding automotive industry in the European region, which is focusing to produce much more light-weight and energy-efficient vehicles in order to reduce carbon dioxide emissions, has increased market demand.
Who are the Key Manufacturers and Suppliers
Some of the leading manufacturers and suppliers include
ShanghaiSECCOPetrochemical Company Limited and many others.
Significant growth of the acrylonitrile production in automotive, building construction areas and textile industry in countries such as China and India is driving the market in the Asian-pacific region.
Several countries are investing in China and India as they are the fastest-growing market in the future and the center hub of the automobile and textile industries; thus, several companies start investing in these industries.
The Acrylonitrile report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
