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 10% derived from rayon or petroleum pitch. Carbon fiber, renowned for its high strength-to-weight ratio and durability, is extensively utilized in sectors such as aerospace and defense, sports and leisure, wind energy, and automotive. The aerospace industry, in particular, relies heavily on carbon fiber for manufacturing lightweight yet robust structures and components for aircraft and spacecraft. The escalating demand for carbon fiber in these industries is expected to fuel the need for acrylonitrile throughout the forecast period. 

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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
• Process Technology
  • Ammoxidation Process
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • 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: 

• High demand for acrylonitrile from APAC
• Rising usage of acrylonitrile in automotive industry
• Rise in construction activities

However, the market also witnesses some limitations, which are as follows:

• Stringent regulations and health hazards caused by acrylonitrile
• Fluctuating raw material prices for producing acrylonitrile
• Increasing number of alternatives to acrylic fibers

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Market Scope in Acrylonitrile Market Research Report

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Research Analysis Overview

The Acrylonitrile Market encompasses the production and application of Acrylonitrile, a significant chemical intermediate. Acrylamide and Acrylic Fibers (including Polyester Fibers) are key applications. Acrylonitrile Butadiene Styrene (ABS) and Adhesives also utilize this material. The Carbon fiber segment, derived from Acrylonitrile, offers superior Chemical Resistance and Thermal Stability, making it ideal for Construction and other industries. Non-latex gloves and Plastics are additional applications. Acrylonitrile's versatility drives market growth through Production Consumption Analysis.

Market Research Overview

The Acrylonitrile market falls under the broader category of the global commodity chemicals industry. This sector encompasses businesses 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, this market excludes companies producing diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the market's growth is attributed to the rising demand for plastic packaging. Given the widespread usage of plastic in the packaging sector worldwide, the increasing preference for lightweight, corrosion-resistant materials has spurred continuous innovation, thereby influencing the application of chemicals in the manufacturing process of plastic packaging materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/