Acrylonitrile Market Projected to Reach USD 17.04 Billion by 2032 | Expanding Demand in Automotive and Electronics Driving Growth
The acrylonitrile market is witnessing significant expansion, fueled by increasing demand for high-performance polymers and synthetic fibers in various industries.
Austin, March 04, 2025 (GLOBE NEWSWIRE) — The acrylonitrile market is projected to reach a valuation of USD 17.04 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.54% from 2024 to 2032. It is primarily attributed to a rising application of acrylonitrile from automotive acrylic resins, and specialty polymers from acrylonitrile butadiene styrene (ABS), and polyacrylonitrile (PAN). Such materials are commonly used in the automotive materials domain for creating durable components that reduce the energy consumption of vehicles. In addition, the increasing use of acrylonitrile for carbon fiber production is expected to propel the demand for this product in the foreseeable future as carbon fibers find their major applications in aerospace, wind energy, and high-performance sports equipment.
Moreover, the stringent environmental regulations and sustainability initiatives have boosted the production of bio-based acrylonitrile. However, in light of the environmental impact and dependence on petroleum-based feedstocks associated with traditional methods of production, both governments and industry are increasingly seeing investment in sustainable production technologies. The shift is forecasted to generate market opportunities while following carbon dioxide and toxic waste disposal, which are concerns.
Additionally, the growth of the electronics industry is supplementing the acrylonitrile market growth. Acrylonitrile-based materials are used in consumer electronics, electrical components, and 5G infrastructure, applications where high-performance plastics are needed for insulation and long-lasting service. Along with this, IoT and AI-based technologies are rapidly growing, thereby fueling market demand as well as smart devices.
Download PDF Sample of Acrylonitrile Market @ https://www.snsinsider.com/sample-request/5664
Key Players:
- INEOS (Novacryl, Acrylon Ultra)
- China Petroleum Development Corp. (CPDC AN, Acrylon Prime)
- Asahi Kasei Advance Corp. (Leona AN, Thermyln AN)
- Ascend Performance Materials (Trinohex Ultra, Vydyne AN)
- Chemelot (ChemoNitril, NitroPlast AN)
- Formosa Plastics Corp. (Formonitrile, ForPlas AN)
- Mitsubishi Chemical Corp. (Acryrex, Lucite AN)
- Secco (SeccoPure, Acrylon Elite)
- Taekwang Industrial Co., Ltd. (Taekryl, Taeflex AN)
- Sumitomo Chemical Co., Ltd. (Sumikril, AcrylSum)
- LG Chem (Lupoy, Lusep AN)
- Sinopec (SinoAcrylo, SinoNitril)
- SABIC (Vestolen, KSAcryl)
- Toray Industries, Inc. (Toraylon, Torelina AN)
- Lotte Chemical (LotteNitril, AcryLotte)
- Versalis (Vyrtix, Versacryl)
- BASF (Ultraform, Bascryl)
- AnQore (Econitril, QoreAcryl)
- PetroChina Company Limited (PetroNitril, ChinaCryl)
- Kumho Petrochemical (KumhoNitril, KumhoFlex)
Acrylonitrile Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 12.46 Billion |
| Market Size by 2032 | USD 17.04 Billion |
| CAGR | CAGR of 3.54% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Acrylic Fibers, Acrylonitrile Butadiene Styrene (ABS), Adiponitrile, Styrene Acrylonitrile Resin (SAR), Acrylonitrile Butadiene Rubber, Carbon Fiber, Nitrile Rubber, Others) |
| Key Drivers | • Rising Consumer Demand for Electronics, which drives the market growth. |
If You Need Any Customization on Acrylonitrile Market Report, Inquire Now @ https://www.snsinsider.com/enquiry/5664
Which Region Leads the Acrylonitrile Market Growth?
Asia-Pacific held the largest market share of approximately 52% in 2023, driven by strong manufacturing activities in China, India, and Japan. China remains the leading producer and consumer of acrylonitrile, supported by its robust petrochemical sector and high demand for ABS in automotive and electronics applications. India is emerging as a key player due to rising investments in infrastructure and industrial development. Additionally, Japan and South Korea are witnessing increased demand for acrylonitrile-based materials in the electronics and automotive sectors, further consolidating the region’s dominance.
The acrylonitrile market was dominated by North America, holding the largest share of the overall market. In part, by a very well-established chemical industry base, the region, namely the USA, is also home to some of the biggest acrylonitrile plants operating worldwide. North America is the largest market due to it developing a high number of schedules containing a high volume of use of acrylonitrile-based products such as ABS plastics used for the production of lightweight, highly durable, and fuel-efficient car parts. Demand for acrylonitrile derivatives in the high-performance applications market in the region has also increased with the growing focus on innovation and sustainability. The presence of a strong chemical industry, supportive government policies for the final application industry, and continued R&D investment in technologies by North American players strengthens the market in North America. Additionally, the presence of market leaders in North America with demand for acrylonitrile for applications such as textiles, construction, and others, are lucrative.
Market Segmentation
By Application
Acrylonitrile Butadiene Styrene (ABS) held the largest market share in 2023, accounting for approximately 27% of total revenue. ABS is widely utilized in the automotive and electronics industries due to its superior impact resistance, lightweight properties, and ease of processing. The increasing production of electric vehicles (EVs) and advancements in consumer electronics are expected to sustain the demand for ABS in the coming years. In addition, its excellent compatibility with metals and rubber substrates adds to its market share, as well as its superior moldability to complicated geometries. Increased demand for durable, low-cost materials and expansion of manufacturing technologies have been the major driving forces for ABS acceptance. The above-mentioned qualities offer numerous industries a good set of features to make their goods, which have placed ABS to be the largest market share holder in the acrylonitrile market since expansion in consumer products, electronics, and automotive sector maintains a high demand for the synthetic rubber product, forecasts cumulatively indicates.
Recent Developments
- In 2023, INEOS Group announced the expansion of its acrylonitrile production capacity in Europe to meet the rising demand from the automotive and electronics sectors.
- In 2023, Asahi Kasei Corporation introduced a new bio-based acrylonitrile technology, aligning with global sustainability goals and reducing carbon emissions in the production process.
- In 2023, LG Chem partnered with a major EV manufacturer to supply high-performance ABS materials for next-generation electric vehicles, strengthening its position in the automotive sector.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Acrylonitrile Market Segmentation, by Application
8. Regional Analysis
9. Company Profiles
10. Use Cases and Best Practices
11. Conclusion
Buy Full Research Report on Acrylonitrile Market 2024-2032 @ https://www.snsinsider.com/checkout/5664
Buying Options
- 5 Reports Pack (USD 7500)
- 10 Report Pack (USD 12000)
- Vertical Subscription (150 Reports Pack Valid for 1 Year)
- Use this link to Purchase above packs @ https://www.snsinsider.com/subscription
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
CONTACT: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.