Latest News- Acrylonitrile Market: ABS and SAN is expected to lead the Application segment during 2025-2029
The Acrylonitrile Market is being driven by High demand for acrylonitrile from APAC
The Acrylonitrile Market is expected to grow at a CAGR of 3.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2042.7 million. Acrylonitrile serves as a crucial raw material in the production of Polyacrylonitrile (PAN), which is the primary feedstock for manufacturing carbon fiber. Approximately 90% of carbon fibers are produced using PAN, with the remaining percentage derived from rayon or petroleum pitch. Carbon fiber, an organic polymer-based material, is renowned for its exceptional strength-to-weight ratio, surpassing that of steel. This attribute makes it an ideal choice for various industries, including aerospace and defense, sports and leisure, wind energy, and automotive. The burgeoning demand for carbon fibers in these sectors, particularly aerospace and defense and sports and leisure, is projected to boost the acrylonitrile market during the forecast period. In the aerospace sector, carbon fibers are utilized extensively to fabricate structures and components for aircraft and spacecraft, underlining their indispensable role in this high-performance industry.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on 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).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Acrylonitrile Market Research Report
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The Acrylonitrile Market encompasses the production and application of Acrylonitrile, a significant chemical intermediate. Key applications include Acrylamide for superabsorbent polymers, Acrylic Fibers in textiles, and Acrylonitrile Butadiene Styrene (ABS) in automotive and construction industries. Other applications include Adhesives, Carbon Fibers for aerospace and automotive sectors, and Plastics. Acrylonitrile offers chemical resistance, thermal stability, and high production consumption in industries like Construction, Non-latex gloves, and Polyester Fibers. Trillium Renewable Chemicals is a notable producer, contributing to the market's growth. Acrylonitrile's versatility extends to applications in Chemical Intermediates, Thermal Stability enhancers, and Carbon fibers production.
The Acrylonitrile market is a significant segment of the global commodity chemicals industry, which encompasses companies primarily engaged in the production of industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably excluded from this market are chemical companies producing diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio's market research, the global commodity chemicals market is expected to grow due to the increasing demand for plastic packaging. As the most widely used material in the packaging sector worldwide, plastic's popularity stems from its lightweight and corrosion-resistant properties. This trend has driven continuous innovation in the market, leading to the development of advanced plastic packaging materials, thereby significantly impacting the demand for Acrylonitrile and other essential chemicals used in their manufacture.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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