Acrylonitrile Market: By End Use (Automotive, Electrical & Electronics, Packaging, Construction & Others), By Application (Acrylic Fiber, Adiponitrile, Styrene acrylonitrile, ABS, Acrylamide, Carbon Fiber, Nitrile Rubber & Others), By Region Forecast 2019-2030.

Acrylonitrile Market size was valued at USD 12,793.7 million in 2023 and is projected to grow at 2.1% CAGR from 2024 – 2030. Acrylonitrile is a chemical used to make acrylic fiber, which is used in clothing, textiles, and other consumer goods, it is also used to make derivatives such as acrylonitrile butadiene styrene, acrylamide, carbon fiber, and nitrile rubber. The key drivers of the market include the growing need in the medical field, expanding acrylic fiber production, an increase in the demand for acrylamide production, and the adoption of lighter-weight materials the industry is anticipated to be driven by the growing demand for acrylonitrile from end-use sectors like construction and automobile.

The challenges hampering the growth of the market are the fluctuations in the raw material prices and environmental factors for example, the by-products released during production are very toxic which will affect the environmental management. The growth opportunities of the market are in many sectors like automobile and healthcare and also by strategic partnerships and collaborations and by using lightweight materials, synthetic fibers, and adoption of high-performing composites with the end-user industries are the opportunities of market. Emerging trends in the market are the adoption of low-carbon production processes, smart manufacturing operations, bio-based acrylonitrile production, using nanocomposites which show better mechanical and thermal barrier properties, changing lifestyles, growing consumer preferences, and increasing per capita income which in turn, will fuel the demand for acrylonitrile in the consumer appliances industry.

Acrylonitrile Market Key Developments

• In February 2023, Sumitomo Chemical obtained its first ISCC PLUS certification for the manufacturing of acrylonitrile.
• In June 2023, INEOS Nitriles introduced their first line of bio-attributed products to the market including acrylonitrile-based products that provide a far greener option than the acrylonitrile, under the brand names of InvireoTM.