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Acrylonitrile Market Size, Share, and Industry Report [2031]
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Acrylonitrile Market Size, Share, and Industry Report [2031]

Segments - Acrylonitrile Market by Applications (Nitrile Butadiene Rubber, Acrylic Fiber, Polyacrylamide, Acrylonitrile Butadiene Styrene, and Others) and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

Upcoming | Report ID :MC-4426 | 4.1 Rating | 76 Reviews | 175 Pages | Format : PDF Excel PPT

Report Description


The global acrylonitrile market size was valued at around USD 11.95 billion in 2022 and is anticipated to reach USD 13.42 billion by 2031, expanding at a CAGR of around 1.3% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising demand for acrylonitrile butadiene styrene in the construction industry.

Acrylonitrile is a synthetic material produced through a process called ammoxidation that combines several elements namely ammonia, propylene, and air. In addition to these, several other raw ingredients such as propane are used, which are required to make some derivatives of the materials. Acrylonitrile is a flammable organic liquid with a strong odor and is mainly extracted or derived from crude oil.

Acrylonitrile Market Outlook

Owing to its highly reactive nature with other elements such as oxidizers, copper, strong acids & bases, and particularly bromine, it is usually required to be kept in a controlled environment. However, the substance is known for its certain key properties including strength, durability, and heat resistance. Due to which, it is extensively used in various applications such as making certain rubbers, plastics, and chemicals.

The Covid-19 pandemic had negative impact on the market due to drastically disrupting of the supply chain and raw materials, impacted by the emergency lockdown. Major factors such as work stoppages, labor shortages, and precautionary quarantines are vital features during the pandemic that largely affected the market.

  • Increased demand and uses of acrylonitrile in the manufacturing of electronics and consumer goods is projected to drive the market in the coming years.

  • Extensive use of lightweight substance such as ABS in the automobile sector presents another key driver of the market.

  • Strict government regulations towards the use of hazardous chemicals in industry and the risk of being exposed to acrylonitrile by workers associated with the manufacturing of acrylic fibers and plastics are major hurdles of the market expansion.

  • High fluctuation of the crude oil and raw materials of the substance acts another key restraint of the market.

  • Rising construction as well as rapid expansion of the plastic and chemical sectors are expected to offer several growth opportunities of the market during the targeted period.

Scope of the Report

The report on the global acrylonitrile market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Acrylonitrile Market – Global Industry Analysis, Growth, Share, Size, Trends, Coid-19 Impact, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Application (Nitrile Butadiene Rubber, Acrylic Fiber, Polyacrylamide, Acrylonitrile Butadiene Styrene, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Chemelot; China Petroleum & Chemical Corporation; Ascend Performance Material; INEOS; and Asahi Kasei Corporation

Market Segment Insights

Acrylonitrile butadiene styrene segment is expected to grow at a rapid pace

Based on applications, the acrylonitrile market is divided into nitrile butadiene rubber, acrylic fiber, polyacrylamide, acrylonitrile butadiene styrene, and others. The acrylonitrile butadiene styrene (ABS) segment is expected to grow at a rapid pace during the forecast period as it offers certain advantages including chemical, heat, and impact resistance.

Increasing the consumption rate for ABS resins in consumer appliances, which accounted for around 40% of worldwide ABS resin usage in 2020 presents a key driver of the market. The electrical and electronics industry is the second-largest end-user of the material, accounting for around a quarter of total consumption and about 12% of worldwide ABS resin is consumed by the automobile sector.

It is frequently utilized in the automotive and electronics sectors due to its outstanding qualities including as strength and endurance at low temperatures. According to the Organization for International Cooperation on Automobiles (OICA), automotive manufacturing fell by roughly 23% in the first nine months of 2020 compared to the same duration in 2019.

Acrylonitrile Market Application

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to increasing expansion of the manufacturing and industrial powerhouse.

Moreover, the high demand for electrical and electronic goods due to the large increased in middle-class population and rising per-capita income of a large number of the regional population presents another key driver of the market.

Within the region, China is a leading market for ABS resins due to wide expansion of the electronic and automotive industries. China is currently the world's largest market for electric vehicles and the Chinese government is actively offering substantial financial & non-financial incentives to encourage purchase of electric vehicles.

Acrylonitrile Market Regions

Segments

The global acrylonitrile market has been segmented on the basis of

Applications

  • Nitrile Butadiene Rubber
  • Acrylic Fiber
  • Polyacrylamide
  • Acrylonitrile Butadiene Styrene
  • Others

Regions

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the global acrylonitrile market are Chemelot; China Petroleum & Chemical Corporation; Ascend Performance Material; INEOS; and Asahi Kasei Corporation. Some of the key players are constantly implementing several marketing strategies such as merge & acquisitions, capital investments, partnerships, and new product development to expand geographical reach of their products.

For instance, INEOS announced a USD 2 billion agreement with Saudi Aramco and Total in June 2019 to develop its first three facilities in the Middle East. The three sites aimed to develop critical components for engineered polymers, carbon fiber, and synthetic lubricants on a global scale.

Acrylonitrile Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Acrylonitrile Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Acrylonitrile Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Acrylonitrile Market - Supply Chain
  4.5. Global Acrylonitrile Market Forecast
     4.5.1. Acrylonitrile Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Acrylonitrile Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Acrylonitrile Market Absolute $ Opportunity
5. Global Acrylonitrile Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Acrylonitrile Market Size and Volume Forecast by Applications
     5.3.1. Nitrile Butadiene Rubber
     5.3.2. Acrylic Fiber
     5.3.3. Polyacrylamide
     5.3.4. Acrylonitrile Butadiene Styrene
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Acrylonitrile Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Acrylonitrile Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Acrylonitrile Demand Share Forecast, 2019-2026
7. North America Acrylonitrile Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Acrylonitrile Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Acrylonitrile Market Size and Volume Forecast by Applications
     7.4.1. Nitrile Butadiene Rubber
     7.4.2. Acrylic Fiber
     7.4.3. Polyacrylamide
     7.4.4. Acrylonitrile Butadiene Styrene
     7.4.5. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Acrylonitrile Demand Share Forecast, 2019-2026
8. Latin America Acrylonitrile Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Acrylonitrile Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Acrylonitrile Market Size and Volume Forecast by Applications
     8.4.1. Nitrile Butadiene Rubber
     8.4.2. Acrylic Fiber
     8.4.3. Polyacrylamide
     8.4.4. Acrylonitrile Butadiene Styrene
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Acrylonitrile Demand Share Forecast, 2019-2026
9. Europe Acrylonitrile Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Acrylonitrile Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Acrylonitrile Market Size and Volume Forecast by Applications
     9.4.1. Nitrile Butadiene Rubber
     9.4.2. Acrylic Fiber
     9.4.3. Polyacrylamide
     9.4.4. Acrylonitrile Butadiene Styrene
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Acrylonitrile Demand Share Forecast, 2019-2026
10. Asia Pacific Acrylonitrile Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Acrylonitrile Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Acrylonitrile Market Size and Volume Forecast by Applications
     10.4.1. Nitrile Butadiene Rubber
     10.4.2. Acrylic Fiber
     10.4.3. Polyacrylamide
     10.4.4. Acrylonitrile Butadiene Styrene
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Acrylonitrile Demand Share Forecast, 2019-2026
11. Middle East & Africa Acrylonitrile Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Acrylonitrile Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Acrylonitrile Market Size and Volume Forecast by Applications
     11.4.1. Nitrile Butadiene Rubber
     11.4.2. Acrylic Fiber
     11.4.3. Polyacrylamide
     11.4.4. Acrylonitrile Butadiene Styrene
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Acrylonitrile Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Acrylonitrile Market: Market Share Analysis
  12.2. Acrylonitrile Distributors and Customers
  12.3. Acrylonitrile Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Chemelot
     12.4.2. China Petroleum & Chemical Corporation
     12.4.3. Ascend Performance Material
     12.4.4. INEOS
     12.4.5. Asahi Kasei Corporation

Methodology

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