Acrylonitrile Market to grow by USD 2.83 billion between 2024-2028
According to a research report “ Acrylonitrile Market” by 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)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2.83 billion at a CAGR of over 4.21% during the forecast period. The APAC region, known for its significant consumption of acrylonitrile, is projected to witness continued growth in demand during the forecast period. This expansion is primarily driven by the burgeoning manufacturing sectors for acrylic fibers and acrylonitrile butadiene styrene (ABS) in countries like China, India, Japan, Singapore, and South Korea. Favorable factors, including the availability of raw materials, inexpensive labor, and supportive government policies, contribute to a robust acrylonitrile manufacturing base in the region. The construction, automotive, and consumer goods industries' rapid expansion further fuels market growth..
Browse market data tables, figures, and in-depth TOC on “Acrylonitrile Market” by 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) Global Forecast to 2028.
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By Application, the ABS and SAN segment is projected to dominate the market size in 2024.
In the global acrylonitrile market, the electrical and electronics sector holds a dominant position, driven by the increasing demand for consumer appliances. Factors such as heat resistance, chemical resistance, evolving lifestyles, expanding consumer tastes, and rising per capita income are fueling this growth. Consequently, the market is projected to experience substantial expansion during the forecast period.
By End-user, Electrical and electronics segment is expected to hold the largest market size for the year 2024.
In the global acrylonitrile market, products such as Acrylonitrile butadiene styrene (ABS) and styrene-acrylonitrile (SAN) hold significant value due to their extensive applications in various industries. Notably, in household appliances, ABS and SAN are sought-after for their superior properties, including high impact resistance, excellent insulation, high weldability, and outstanding surface brightness. These advantages translate to increased demand for these materials in appliances like control panels, vacuum cleaners, food processors, and refrigerator liners. Furthermore, the automotive sector relies on ABS and SAN for components such as instrument panels, pillar trim, dashboard components, door liners and handles, seatbacks, and seat belt components. The growing demand for household appliances and automobiles is expected to fuel the market growth for acrylonitrile products during the forecast period.
APAC is forecasted to hold the largest market size by region in 2024.
In the APAC market, the acrylonitrile sector is propelled by key industries, including automotive, construction, and water treatment. The region's automotive sector, home to major players like China, India, Japan, and South Korea, fuels demand for acrylonitrile, which is integral to ABS plastics, elastomers, and synthetic fibers production. Acrylonitrile serves as a metal substitute, contributing to automotive structural components, powertrain, exterior, interior, and electronic and electrical components. The increasing automobile production to cater to customer needs will further boost acrylonitrile's demand in the region throughout the forecast period.
The Acrylonitrile Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Acrylonitrile market is a significant segment in the global chemical industry, with applications spanning various sectors such as thermoplastic production, adhesives, and chemical intermediates. Acrylonitrile is a crucial building block in the manufacturing of Acrylonitrile Butadiene Styrene (ABS), a popular thermoplastic used in the production of construction materials, automotive components, and electrical appliances. Moreover, Acrylonitrile is also used in the production of acrylic fibers, which find extensive applications in the textile industry, particularly in the manufacturing of polyester fibers and acrylic fibers. These fibers are widely used in the production of non-latex gloves, providing excellent chemical resistance and thermal stability. Additionally, Acrylonitrile is a vital raw material in the production of carbon fibers, a high-performance material used in the carbon fiber segment for various applications, including aerospace, automotive, and construction industries. The market for Acrylonitrile is expected to grow significantly due to the increasing demand for acrylonitrile-based products in various end-use industries. Furthermore, the market for Acrylonitrile is also driven by the growing demand for acrylamide, a derivative of Acrylonitrile, used as a chemical intermediate in the production of various industrial chemicals and pharmaceuticals. The Acrylonitrile market is expected to witness robust growth in the coming years, driven by the increasing demand for its various applications in different industries.
Market Research Overview
The Acrylonitrile Market encompasses a broad range of applications and industries, including electronics, consumer goods, construction, and alternative energy. Key players in this market include Southern Research, Solvay, Repsol, LG Chem, Lenntech BV, Capricorn Partners, Ascend Performance Materials, Asahi Kasei Corporation, AnQore, and Corey Tyree. Acrylonitrile is a crucial chemical intermediate used in the production of synthetic rubber, plastics, and fibers such as polyester fibers and acrylic fibers. It is also used in the manufacture of adhesives, binders, auto transmission belts, and acrylonitrile butadiene styrene (ABS). The market for acrylonitrile is driven by the demand for high-performance materials in various industries. For instance, the durability and chemical resistance of acrylonitrile-based materials make them ideal for use in consumer appliances, construction, and aerospace & defense. Moreover, the increasing use of acrylonitrile in the production of alternative energy sources, such as bio-based polymers and carbon fibers, is expected to fuel the growth of the market. Crude oil prices and the availability of raw materials like butadiene and adiponitrile also influence the market dynamics. In summary, the Acrylonitrile Market is a dynamic and diverse industry that caters to various applications and industries, driven by the demand for high-performance materials and the shift towards alternative energy sources.
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