Acrylonitrile Market Trends and Forecast
Lucintel finds that the future of the acrylonitrile material market looks good with opportunities in the automotive, electrical and electronics, packaging, and construction end uses. The global acrylonitrile market is expected to reach an estimated $13 billion by 2030 with a CAGR of 3% from 2023 to 2030. The major growth drivers for this market are increasing use of acrylonitrile in various parts of automotive and construction industry for its chemical and thermal properties, and the use of acrylonitrile in manufacturing acrylic fiber and acrylonitrile butadiene styrene.
The ammonization process converts propylene, oxygen and ammonia into acrylonitrile; hydrogen cyanide and water are obtained as by-products. The catalyst used in this process is a bismuth-molybdenum-based oxide. Other than the main reactions involved, production also involves use of stabilizers and additives that enhance quality besides making the process more efficient. Therefore, the competition between acrylonitrile and other chemicals like derivatives of propylene and ammonia depends on price that fluctuates according to market demand, raw materials cost and production capacity. In fact, it can be lined up with other products such as propylene oxide or methyl methacrylate monomers Acrylonitrile’s cost is high due to its complex production but this is justifiable by its unique properties when applied in areas that need high performance High prices for acrylonitrile are influenced by regional demand as well as market conditions which define its competitiveness.
• Lucintel forecasts that automotive is expected to remain the largest market by value and volume and electrical and electronics expected to witness highest growth over the forecast period.
• Acrylonitrile butadiene styrene will remain the largest application by value and volume due to its increasing use in automotive industry like; panels for cars, helping to make them lighter, and improving fuel efficiency. Acrylamide is expected to witness highest growth over the forecast period.
• Asia Pacific is expected to remain the largest market by value and volume, and ROW expected to witness the highest growth over the forecast period due to the growing demand for infrastructure along with rehabilitation of infrastructure projects due to urbanization and presence of various automotive manufacturers.
Country wise Outlook for the Acrylonitrile Market
The acrylonitrile market is witnessing substantial growth globally, driven by increased demand from various industries such as packaging, transportation, electrical and electronics, and construction. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major Acrylonitrile producers in key regions: the USA, Germany, China, India, and Brazil.
Emerging Trends in the Acrylonitrile Market
Emerging trends in the acrylonitrile market shaping its future applications and market dynamics:
• Low-carbon Production Processes: In response to environmental issues, businesses are investing in low-carbon production technologies that involve cleaner processes and the incorporation of carbon capture and storage (CCS) systems to curtail greenhouse gas emissions.
• Smart Manufacturing and Industry: The shift towards smart manufacturing for acrylonitrile is mainly facilitated by the adoption of Industry 4.0 technologies, for instance, automation, Internet of Things (IoT), and data analytics. Smart manufacturing operations lead to efficiency improvements, reduced downtimes as well as better quality control.
• Bio-based Acrylonitrile Production: Bio-based acrylonitrile as an alternative to conventional methods that rely on fossil fuels i.e., a sustainable way is being developed by companies. Research into reducing the carbon footprint through use of renewable resources such as plant-based feedstocks has been picking up momentum.
• Recycling and Circular Economy: The recycling of acrylonitrile and its derivatives is increasingly gaining attention. Measures are being taken towards establishment of efficient processes for recovering efficiently acrylonitrile containing materials such as ABS (Acrylonitrile Butadiene Styrene) plastics to support a circular economy.
• Nano-composites: Research into nano-composites based on acrylonitrile is promoting the advancements in future materials with improved characteristics. These nano-composites show better mechanical, thermal and barrier properties which makes them suitable for many high-performance applications.
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Recent Developments by the Acrylonitrile Market
Recent developments in acrylonitrile market by various companies highlight ongoing innovations and advancements across different sectors:
• Widely Expanded Production Capacities: There have been substantial production capacity expansions in the world, particularly in places like US and China. Firms are investing to expand their manufacturing capacities so as to meet ever-growing demand within various sectors.
• Technological Advancements: The aim of such innovation is to improve efficiency and minimize environmental pollution through better production procedures. This includes; technological improvements in catalysts as well as process optimization for increased yields and reduced power consumption.
• Expansion of Applications: Acrylonitrile is commonly used in the manufacture of acrylic fibers, resins and other plastics. In recent past its use has been expanded into areas like specialty chemicals, automotive components, electronics etc.
• Environmental Sustenance Moves: These days companies making acrylonitrile are increasingly adopting sustainable practices towards its production. This involves efforts aimed at minimizing emissions, conserving water and improving waste management throughout the whole production process.
• Fluctuation of Market Prices: Instable prices among other supply chain disturbances have had an impact on market dynamics. Strategic alliances alongside mergers are being put into practice with a view of consolidation that will guarantee smooth flow in supplies
• Research and Development: Ongoing research aims at finding new applications for Acrylonitrile (AN) derivatives. Such developments could explore use in upcoming markets as well as technologies including renewable energy storage or advanced materials.
• Regulatory Environment: Changes made by regulatory authorities regarding environmental standards and safety rules have affected production patterns globally. Through adaptation of changes while trying not to compromise operational efficiencies are some of the ways undertaken by companies to deal with these changes.
Strategic Growth Opportunities for Acrylonitrile Market
Expansion in Automotive Sector
• Lightweight Materials: Acrylonitrile is a key ingredient in making ABS and other polymers used in light car parts for better fuel economy and lower emissions.
• Electric Vehicles (EVs): The growth of the EV market gives an opportunity to acrylonitrile-based materials in battery casings, electrical components, and lightweight body panels.
Rising Demand in Construction and Infrastructure
• Building Materials: Urbanization and infrastructure projects have driven up demand for construction materials, plumbing, insulation, etc. Polymers like ABS and SAN (styrene-acrylonitrile) rely on acrylonitrile.
• Sustainable Solutions: This means to develop better environmental profiles for acrylonitrile based material as well as energy efficient construction solutions that could be promoted globally.
Growth in the Textile Industry
• Synthetic Fibers: For example, acrylic fibers are mostly made from acrylonitrile. The manufacture of durable, lightweight and high-performance clothing fabrics or furnishings ensures that their demand remains strong.
• Technical Textiles: They include geo-textiles, industrial fabrics as well as filtration media which are some of the types of technical textiles where acrylic fibers are used more often leading to enormous increases in their usage.
Advancements in Composite Materials
• High-Performance Composites: Due to its exceptional mechanical properties including resistance ability, high-performance composites for aerospace industry require acrylonitrile based resins.
• Innovation in Applications: Thus industries such as wind turbine blade manufacturing; lightweight structural components among others can lead to increased consumption of acrylonitrile-based materials if research and development is conducted into new composite applications.
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Healthcare and Medical Applications
• Medical Devices and Equipment: Acquiring untapped opportunities through increasing healthcare services’ provision can greatly help this sector produce medical devices whose manufacture depends on substances such as acrylonitrile.
• Pharmaceutical Packaging: Demand for pharmaceutical packaging has been created by improved services in the pharmaceutical industry and the need for acrylonitrile based packaging materials to ensure product safety and stability.
Emerging Markets and Regional Expansion
• Asia-Pacific Growth: Therefore, rapid industrialization, urbanization, and increasing manufacturing capabilities in Asia-Pacific have made it possible for acrylonitrile market to expand significantly.
• Latin America and Africa: Moreover, economic growth in Latin America as well as Africa has given birth to new demand for acrylonitrile and its derivatives in the industrial sectors.
Technological Innovations
• Process Optimization: The ability of any production process to be efficient enough lowering costs incurred during operation as well reducing environmental effects is what makes acrylonitrile production sustainable apart from competitive.
• New Applications: For instance, unique properties of this polymer have continued attracting continuous innovations about its applications thereby opening up new markets for it across the globe.
Strategic Partnerships and Collaborations
• Industry Alliances: Such partnerships are required so as to facilitate developments plus marketing initiatives regarding those products made of acrylonitrile’s that address many issues associated with their usage today by people involved in different industries building or construction like plumbing industry among others. R&D Collaborations: Any information that will help researchers understands when certain markets were opened or even when some were form would be very useful even though some already existed before but still these institutions might want to advance their existing understanding of Acetylene.
Acrylonitrile Market Drivers and Challenges
The acrylonitrile market, in general, is dynamic and influenced by several factors that shape its future. Acrylonitrile is an important intermediate chemical which is utilized in a variety of sectors such as automotive and electronics, textiles, and water treatment. The complex nature of this market requires that all players understand those factors driving its growth as well as those which act to limit its expansion.
The key drivers for the global Acrylonitrile market include:
1. Acrylonitrile Butadiene Styrene (ABS) Production has Growing Demand: ABS is a leading user of acrylonitrile because it is used in the automotive, electronics and consumer goods sectors.
2. Expanding Acrylic Fiber Production: The demand for acrylonitrile is met by acrylic fibers which are used in carpeting and textiles.
3. Increased Acrylamide Production Demand: In water treatment, papermaking and many other chemical processes, acrylamide made from acrylonitrile contributes to this market growth.
4. Trending Towards Lighter Weight Materials: Acrylonitrile is employed in the manufacturing of carbon fiber, which finds increasing applications in aerospace, automotive and recreational equipment due to its light weight and high strength properties.
The challenges facing the global Acrylonitrile market include:
1. Raw Material Price Volatility: Crude oil prices and supply-demand dynamics determine propylene prices that ultimately influence fluctuations in acrylonitrile prices.
2. Environmental Impact Concerns: There are toxic by-products released during production of acrylonitrile thus making environmental management important hence operational problems with regulatory scrutiny.
Ultimately, the market for acrylonitrile is a hopeful one, with increasing demand for ABS production, acrylic fiber, and carbon fiber applications propelling it. But then again, there are big challenges like fluctuations in raw material prices, environmental anxieties and consolidation in the market. Moreover, technological advancements and changes in end-use industry dynamics affect its course. For players interested in seizing the possible opportunities that exist within the acrylonitrile sector, strategic adjustments are important: producing by innovation and managing supply chains prudently.
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Acrylonitrile Suppliers and Their Market Shares
In this globally competitive market, several key players such as Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Carbon SE, Hexcel Corporation, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players contact us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies acrylonitrile companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the acrylonitrile companies profiled in this report includes.
• INEOS
• Ascend Performance Materials
• Asahi Kasei Corporation
• Sinopec
• China National Petroleum Corporation
• Sumitomo Chemical Co. Ltd.
• Bhansali Engineering Polymers Limited
• Jiangsu Sierbang Petrochemical Co., Ltd.
• Taekwang Industrial Co. Ltd.
• Zhejiang Petrochemical Co., Ltd.
These companies have established themselves as leaders in the global Acrylonitrile market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the Acrylonitrile market are evolving, with the entry of new players and the emergence of innovative Acrylonitrile market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Acrylonitrile Market by Segment
Acrylonitrile market is growing in various key segments: Firstly, demand for acrylic fibers and resins are increasing due to their growing use in textiles as well as automotive. Secondly, there is an increasing market for ABS (Acrylonitrile Butadiene Styrene) resins mainly used in consumer electronics segment and automotive parts. Thirdly, acrylonitrile’s usefulness in producing carbon fiber precursors is on the rise since lightweight materials are becoming popular with aerospace and automobile industries. Fourthly, there has been a notable growth of ABS and SAN copolymers due to their flexible applicability for consumer goods packaging and construction materials. Lastly, nitrile rubber for industrial and automotive applications has found increased applications in acrylonitrile production.
Acrylonitrile Market by End Use [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 – 2030]:
• Automotive
• Electrical and Electronics
• Packaging
• Construction
• Other End uses
Acrylonitrile Market by Application [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 – 2030]:
• Acrylic Fiber
• Aditponitrile
• Styrene Acrylonitrile
• Acrylonitrile Butadiene Styrene
• Acrylamide
• Nitrile Butadiene Rubber
• Other Applications
Acrylonitrile Market by Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 – 2030]:
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• Italy
• Spain
• UK
• France
• Asia Pacific
• China
• India
• Japan
• Others
• Rest of the World
• Middle East
• Africa
• South America
Features of Recycled Carbon Fiber Market
• Market Size Estimates: Acrylonitrile market size estimation in terms of value ($M) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by end use, application, and region
• Regional Analysis: Acrylonitrile market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use, application, and regions for the acrylonitrile market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the acrylonitrile market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in Acrylonitrile or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the acrylonitrile market size?
Answer: The global acrylonitrile market is expected to reach an estimated $13 billion by 2030.
Q2. What is the growth forecast for acrylonitrile market?
Answer: The acrylonitrile market is expected to grow at a CAGR of 3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the acrylonitrile market?
Answer: The major growth drivers for this market are acrylonitrile butadiene styrene (ABS) production has growing demand, expanding acrylic fiber production, increased acrylamide production demand, trending towards lighter weight materials.
Q4. What are the major end uses for acrylonitrile?
Answer: Automotive and construction are the major end uses for acrylonitrile.
Q5. What are the emerging trends in acrylonitrile market?
Answer: An emerging trend, which has a direct impact on the dynamics of the industry are low-carbon production processes, smart manufacturing and industry, bio-based acrylonitrile production, recycling and circular economy, and nano-composites.
Q6. Who are the key acrylonitrile companies?
Answer: Some of the key acrylonitrile companies are as follows:
• INEOS
• Ascend Performance Materials
• Asahi Kasei Corporation
• Sinopec Group
• China National Petroleum Corporation
• Sumitomo Chemical Co. Ltd.
• Bhansali Engineering Polymers Limited
• Jiangsu Sierbang Petrochemical Co., Ltd.
• Taekwang Industrial Co. Ltd.
• Zhejiang Petrochemical Co., Ltd.
Q7.Which acrylonitrile application segment will be the largest in future?
Answer: Lucintel forecasts that Acrylonitrile butadiene styrene will remain the largest application by value and volume due to its increasing use in automotive industry like; panels for cars, helping to make them lighter, and improving fuel efficiency. Acrylamide is expected to witness highest growth over the forecast period.
Q8: In acrylonitrile market, which region is expected to be the largest in next 6 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 6 years
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1. What are some of the most promising potential, high growth opportunities for the global acrylonitrile market by end use (automotive, electrical and electronics, packaging, construction, and others), application (acrylic fiber, adiponitrile, styrene acrylonitrile, acrylonitrile butadiene styrene, acrylamide, nitrile butadiene rubber, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which segments will grow at a faster pace and why?
Q.3. Which regions will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats to the market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11. What M & A activities have taken place in the last 6 years in this market?