The Global Acrylonitrile Market size is expected to reach $13.1 billion by 2030, rising at a market growth of 1.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,901.9 Kilo Tonnes, experiencing a growth of 1.4% (2019-2022).
As the demand for nylon-6,6 products grow in various industries, such as textiles, automotive, and industrial applications, the demand for adiponitrile as a feedstock for nylon-6,6 production also increases. Hence, adiponitrile segment registered $1,094.0 million revenue in the market in 2022. the Adiponitrile is a critical precursor in the production of acrylonitrile. Acrylonitrile is typically synthesized through the ammoxidation of propylene, where propylene reacts with ammonia and oxygen in the presence of a catalyst. Adiponitrile serves as a key raw material in the ammoxidation process. It is converted into adipic acid, which is then used to produce adiponitrile. Adiponitrile is subsequently reacted with ammonia and oxygen to form acrylonitrile. Adiponitrile is also used to produce nylon-6,6, a versatile and widely used synthetic polymer. Some of the factors impacting the market are increasing demand for synthetic fibers, growing demand in construction and infrastructure sectors, and fluctuations in the prices of raw materials.
Synthetic fibers have many applications, including sportswear, activewear, outdoor clothing, and technical textiles. Acrylic fibers are valued for their softness, warmth, and moisture-wicking properties, making them suitable for various types of clothing. As the global population grows, the demand for textiles, especially affordable and versatile synthetic textiles, rises. Acrylic fibers, derived from acrylonitrile, play a significant role in meeting this demand. Synthetic fibers made from acrylonitrile are used in industrial applications, such as filtration media and ropes, where strength and durability are essential. The increasing demand for synthetic fibers, including acrylic fibers, is a significant growth driver for the market. Additionally, rapid urbanization and the construction of megaprojects, such as bridges, tunnels, airports, and mass transit systems, contribute to the demand for acrylonitrile-based materials for construction and infrastructure applications. The construction industry's increasing focus on energy efficiency and sustainable building practices led to using materials that contain acrylonitrile for insulation, weatherproofing, and energy-efficient building components. The construction and infrastructure development sector are crucial in boosting the demand for acrylonitrile and acrylonitrile-containing products. As urbanization continues and infrastructure projects expand globally, the need for durable, corrosion-resistant, and versatile construction materials, many of which rely on acrylonitrile, is likely to remain strong, contributing to the growth of the market.
However, the price of acrylonitrile is subject to fluctuations based on factors such as feedstock costs (propylene and ammonia), supply-demand imbalances, and geopolitical events. Price volatility can affect production costs and profit margins for manufacturers and end-users. The primary feedstocks for acrylonitrile production include propylene, ammonia, and natural gas. Changes in the prices of these feedstocks directly affect the cost of acrylonitrile production. Feedstock price increases led to higher production costs and, potentially, higher prices for acrylonitrile. The balance between supply and demand for acrylonitrile influences prices significantly. Shortages or surpluses of acrylonitrile in the market led to rapid price fluctuations. Increased demand or supply disruptions can result in price spikes. Price volatility is a significant challenge in the market.
By application, the market is categorized into acrylic fiber, adiponitrile, styrene acrylonitrile, acrylonitrile butadiene styrene (ABS), acrylamide, carbon fiber, nitrile rubber, and others. The acrylonitrile butadiene styrene (ABS) segment held the highest revenue share in the market in 2022. Acrylonitrile butadiene styrene (ABS) is appropriate for applications where durability is crucial because of its excellent impact resistance. This property is particularly important in the automotive, consumer electronics, and construction industries, where components made from ABS need to withstand mechanical stress and potential impacts. ABS is recyclable, which is important for sustainability efforts in the plastics industry. The market can benefit from the demand for recycled ABS materials as sustainability becomes a more significant concern.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 11.7 Billion |
| Market size forecast in 2030 | USD 13.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 1.6% from 2023 to 2030 |
| Number of Pages | 252 |
| Number of Table | 429 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Australia, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a significant revenue share in the market. Several factors, including the growth of the automotive, construction, and consumer goods industries, influence the demand for acrylonitrile in North America. These sectors rely on acrylonitrile-based materials, such as ABS plastics and synthetic fibers, for various applications. Global trade dynamics also influence the market in North America. Imports and exports of acrylonitrile and acrylonitrile-containing products affect regional supply and demand.
Free Valuable Insights: Global Acrylonitrile Market size to reach USD 13.1 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include INEOS Group Holdings S.A., Sumitomo Chemical Co., Ltd., China Petrochemical Development Corporation (Core Pacific Group), Asahi Kasei Advance Corporation (Asahi Kasei Corporation), Mitsubishi Chemical Holdings Corporation, Ascend Performance Materials LLC (SK Capital and Partners), AnQore, Formosa Plastics Group, and TAEKWANG Industrial Co., ltd.
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $13.1 billion by 2030.
Growing demand in construction and infrastructure sectors are driving the Market in coming years, however,Fluctuations in the prices of raw materials restraints the growth of the Market.
INEOS Group Holdings S.A., Sumitomo Chemical Co., Ltd., China Petrochemical Development Corporation (Core Pacific Group), Asahi Kasei Advance Corporation (Asahi Kasei Corporation), Mitsubishi Chemical Holdings Corporation, Ascend Performance Materials LLC (SK Capital and Partners), AnQore, Formosa Plastics Group, and TAEKWANG Industrial Co., ltd.
In the year 2022, the market attained a volume of 5,901.9 Kilo Tonnes, experiencing a growth of 1.4% (2019-2022).
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7.5 billion by 2030.
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