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Home / Blog / Acrylonitrile market size to grow by 1,251.1 thousand tons from 2022 to 2027; Growth driven by rising demand for acrylonitrile from the automotive industry
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Acrylonitrile market size to grow by 1,251.1 thousand tons from 2022 to 2027; Growth driven by rising demand for acrylonitrile from the automotive industry

Nov 16, 2023Nov 16, 2023

NEW YORK, March 22, 2023 /PRNewswire/ -- The global acrylonitrile market size is estimated to increase by 1,251.1 thousand tons between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 3.69% during the forecast period. The market is driven by the increasing demand for acrylonitrile in the automotive industry. Acrylonitrile is one of the major substitutes for metal components due to its lightweight. This attribute has increased its application in the automotive industry, widely used in automotive structural, powertrain, exterior, interior, and electronic and electrical components. With the rising focus on manufacturing lightweight, fuel-efficient, and environment-friendly automobiles, the demand for acrylonitrile is increasing in the automotive industry. All these factors are driving the growth of the market. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report - Request a sample report

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Global Acrylonitrile Market - Segmentation Assessment

Segment OverviewTechnavio has segmented the market based on application (ABS and SAN, acrylic fibers, polyacrylamide, nitrile butadiene rubber, and others), end-user (electrical and electronics, automotive, construction, packaging, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The market growth in the Acrylonitrile butadiene styrene (ABS) and styrene-acrylonitrile (SAN) segment will be significant during the forecast period. ABS and SAN are widely used for various applications in end-user industries such as household appliances, automotive, construction, and electrical and electronics. Their high demand can be attributed to properties such as high impact resistance, excellent insulating properties, high weldability, and abrasion and stress resistance. The increasing demand for household products and the increasing production of electrical and electronic items will drive the growth of the segment.

Geography OverviewBy geography, the global acrylonitrile market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global acrylonitrile market.

APAC will account for 66% of the market growth during the forecast period. The region is home to several leading automotive manufacturers. This is one of the major factors driving the growth of the acrylonitrile market in APAC. The increase in construction activities is another major factor driving the regional market growth.

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Global Acrylonitrile Market – Vendor Analysis

The global acrylonitrile market is fragmented due to the presence of several vendors. Vendors in the market are investing heavily in R&D to introduce new products. They are also focused on developing long-term relationships with their customer base to maintain their positions and ensure continued demand for their products. Some of the key players covered in the report include:

Ascend Performance Materials Operations LLC - The company delivers acrylonitrile by railcar, tanker truck, and ISO container throughout North America and via barge, ship, and ISO container throughout the world.

China Petrochemical Development Corp. Ltd. - The company manufactures acrylonitrile chemical which is the main raw material for making acrylic fiber and ABS plastics.

Cornerstone Chemical Co. - The company manufactures high-quality products that are shipped around the globe, including acrylonitrile, melamine, sulfuric acid, and urea.

S.S.B. POLYMERS and S.S.B. ENTERPRISES - The company is a manufacturer, supplier, and exporter of acrylonitrile butadiene styrene granules and ABS granules in India.

Global Acrylonitrile Market – Market Dynamics

Key Trends – The increase in carbon fiber production is identified as the key trend in the market. Carbon fiber is lighter and stronger than steel. This has increased its use in the aerospace and defense, sports and leisure, wind energy, and automotive industries. For instance, in the aerospace and defense industry, carbon fibers are used to manufacture various structures and components. Some of the applications include hot air balloon gondolas and gliders, passenger airliners, fighter planes, and space shuttles. In the automotive industry, carbon fibers are used as fairings for recumbent bikes. The growing demand for carbon fiber will increase the consumption of acrylonitrile during the forecast period.

Major challenges – Fluctuating prices of raw materials is the major challenge affecting the growth of the market. Acrylonitrile is produced commercially by propylene ammoxidation. The process is also known as the Sohio process and is widely used by vendors. The process involves the use of raw materials such as propylene and ammonia. The fluctuation in the prices of these raw materials is adversely affecting the production of acrylonitrile, thereby hindering market growth.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this acrylonitrile market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the acrylonitrile market between 2023 and 2027

Precise estimation of the size of the acrylonitrile market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the acrylonitrile market industry across APAC, North America, Europe, Middle East and Africa, and South America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of acrylonitrile market vendors

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Related Reports:

The predicted growth for the Europe acrylonitrile market from 2021 to 2026 is 160.53 thousand tons at a progressing CAGR of 3.34%. The increasing demand for acrylonitrile from the automotive industry is notably driving the acrylonitrile market growth in Europe, although factors such as health hazards caused by acrylonitrile may impede the market growth.

The acrylonitrile butadiene styrene (ABS) market size is expected to increase by 1.38 million t from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.09%. The increasing demand for abs from China is notably driving the acrylonitrile butadiene styrene (ABS) market growth, although factors such as fluctuating crude oil prices may impede the market growth.

Acrylonitrile Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.69%

Market growth 2023-2027

1251.1 thousand tons

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.45

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 66%

Key countries

US, China, Japan, South Korea, and Germany, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AnQore, Asahi Kasei Corp., Ascend Performance Materials Operations LLC, Bhansali engineering polymers limited, China Petrochemical Development Corp. Ltd., Cornerstone Chemical Co., Formosa Chemicals and Fibre Corp., INEOS Group Holdings SA, Mitsubishi Chemical Corp., Petkim Petrokimya Holding AS, PJSC LUKOIL, Polymir, Reliance Industries Ltd., S.S.B. POLYMERS and S.S.B. ENTERPRISES, Shanghai SECCO Petrochemical Co. Ltd., ShengHong petrochemical group Co. Ltd., Sumitomo Chemical Co. Ltd., Taekwang Industrial Co. Ltd., Tokyo Chemical Industry Co. Ltd., and Thermo Fisher Scientific Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global acrylonitrile market 2017 - 2021

4.2 Application Segment Analysis 2017 - 2021

4.3 End-user Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 ABS and SAN - Market size and forecast 2022-2027

6.4 Acrylic fibers - Market size and forecast 2022-2027

6.5 Polyacrylamide - Market size and forecast 2022-2027

6.6 Nitrile butadiene rubber - Market size and forecast 2022-2027

6.7 Others - Market size and forecast 2022-2027

6.8 Market opportunity by Application

7 Market Segmentation by End-user

7.1 Market segments

7.2 Comparison by End-user

7.3 Electrical and electronics - Market size and forecast 2022-2027

7.4 Automotive - Market size and forecast 2022-2027

7.5 Construction - Market size and forecast 2022-2027

7.6 Packaging - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 South Korea - Market size and forecast 2022-2027

9.12 Germany - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 AnQore

12.4 Asahi Kasei Corp.

12.5 Ascend Performance Materials Operations LLC

12.6 China Petrochemical Development Corp. Ltd.

12.7 Cornerstone Chemical Co.

12.8 Formosa Chemicals and Fibre Corp.

12.9 INEOS Group Holdings SA

12.10 Mitsubishi Chemical Corp.

12.11 Petkim Petrokimya Holding AS

12.12 PJSC LUKOIL

12.13 Polymir

12.14 Reliance Industries Ltd.

12.15 S.S.B. POLYMERS and S.S.B. ENTERPRISES

12.16 Sumitomo Chemical Co. Ltd.

12.17 Thermo Fisher Scientific Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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