Acrylonitrile Market Global Opportunity Analysis and Industry Forecast 2024-2032 |Emergen Research
![](https://img.einpresswire.com/medium/236345/emergen-research.png)
Acrylonitrile Market
Rising demand for acrylonitrile from the automobile and construction industries and textile sector and increasing adoption of acrylonitrile in production
VANCOUVER, BRITISH COLUMBIA, CANADA, June 19, 2024 /EINPresswire.com/ -- The global acrylonitrile market1 size was USD 12.72 Billion in 2022 and is expected to register a rapid revenue CAGR of 3.7% during the forecast period. The global acrylonitrile market is experiencing significant growth, fueled by increasing demand from the automotive, construction, and textile industries. Acrylonitrile, a versatile and reactive organic compound, is widely used in producing polymers and synthetic fibers, essential in various high-tech and industrial applications.
Download Free Exclusive Sample PDF@ https://www.emergenresearch.com/request-sample/2525
Market Drivers
Acrylonitrile's applications span numerous sectors, including electrical and electronics, appliances, consumer goods, construction, and automotive. The growing popularity of synthetic rubber and the rising need for engine fuel additives further boost market revenue. Known for its high reactivity, acrylonitrile is indispensable in producing synthetic fibers and plastics, meeting the needs of both industrial and consumer markets.
The market has also seen a surge in orders due to acrylonitrile’s critical role in manufacturing lithium-ion batteries. Notably, Tongsuh Petrochemical Corporation (TSPC) received the ISCC PLUS certification for acrylonitrile as a sustainable product, enhancing its appeal in eco-conscious markets. Acrylonitrile is a key raw material for producing Acrylonitrile Butadiene Styrene (ABS) plastic, acrylamide, acrylic fibers, and various other chemicals.
Market Challenges
Despite its advantages, the acrylonitrile market faces challenges, including high competition from alternative materials and its inherent toxicity. Exposure to acrylonitrile can cause respiratory and skin issues, and its flammability requires stringent safety measures. These factors contribute to higher production costs, prompting some buyers to seek more cost-effective and safer alternatives.
Market Segmentation
Manufacturing Process Insights: The market is segmented into propylene ammoxidation and propane ammoxidation processes. Propylene ammoxidation dominates due to its extensive use in LED bulbs and electronic displays. Acrylonitrile's properties, such as heat dissipation, corrosion resistance, and high reflectivity, make it ideal for enhancing the performance and longevity of LED components. Increased R&D investments and government support for LEDs further drive this segment's growth.
Application Insights: The market is categorized by applications including ABS, styrene-acrylonitrile resin, carbon fibers, acrylic fibers, and acrylamide. The ABS segment is expected to grow rapidly due to its adoption in automotive parts and packaging. ABS provides durability and toughness, essential for automotive components. Its resistance to heat and chemicals makes it suitable for various industrial applications, particularly in textiles and automotive manufacturing.
End-Use Insights: The market is also segmented by end-use industries such as electrical and electronics, appliances, consumer goods, construction, and automotive. The consumer goods segment is poised for significant growth, driven by the demand for durable and lightweight appliances like televisions and refrigerators. Acrylonitrile's high chemical resistance, tensile strength, and UV stability make it ideal for manufacturing resilient consumer appliances.
Get An Impressive Discount On This Report@ https://www.emergenresearch.com/request-discount/2525
Acrylonitrile Top Companies and Competitive Landscape
The global acrylonitrile market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective acrylonitrile.
Some of the major companies included in the global acrylonitrile market report are:
Crafted Plastics Inc.
Asahi Kasei Corporation
Solvay
Preffered Plastics Inc.
AnQore
SABIC
RTP Company
DSM
Plastic Extrusion Technologies
INEOS
United Plastic Components Inc.
LUKOIL
LG Chem
Ascend Performance Materials
LUC Group
Versalis S.p.A
Taekwang Industrial Co., Ltd.
Lenntech BV
Mitsubishi Chemical Corporation
Formosa Plastics Corporation
Acrylonitrile Latest Industry News
On 8 June, 2023, INEOS Nitriles introduced its inaugural line of eco-friendly products for acrylonitrile marketed under the brand name Invireo. This breakthrough offering signifies a significant advancement in the global acrylonitrile market, offering a more environmentally sustainable and climate-conscious alternative to current options. Produced at the INEOS Nitriles facility in Cologne, Germany, Invireo is crafted from bio-based propylene, enabling it to supplant traditional fossil fuel-derived sources.
On 12 January, 2022, Solvay and Trillium Renewable Chemicals announced to establish a bio-based acrylonitrile (bio-ACN) supply chain. Trillium will furnish Solvay with bio-ACN sourced from its forthcoming commercial ventures, and Solvay will assess the use of bio-ACN in the production of carbon fiber, aligning with its enduring commitment to creating sustainable solutions derived from biological or recycled origins. The cooperative endeavor aims to manufacture carbon fiber suitable for diverse applications, including aerospace, automotive, energy, and consumer goods.
Purchase This Market Research Report – https://www.emergenresearch.com/select-license/2525
Acrylonitrile Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global acrylonitrile market on the basis of manufacturing process, application, end-use, and region:
Manufacturing Process Outlook (Revenue, USD Billion; 2019-2032)
Propylene Ammoxidation
Propane Ammoxidation
Application Outlook (Revenue, USD Billion; 2019-2032)
Acrylonitrile butadiene styrene
Carbon fibers
Acrylic fibers
Acrylamide
End-use Outlook (Revenue, USD Billion; 2019-2032)
Electrical and Electronics
Appliances
Consumer Goods
Construction
Automotive
Others
Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
For more informative information, please visit us @ https://www.emergenresearch.com/industry-report/acrylonitrile-market
Look Over transcripts provided by Emergen Research
Aircraft Auxiliary Power Unit Market
https://www.emergenresearch.com/industry-report/aircraft-auxiliary-power-unit-market
Transmission Repair Market
https://www.emergenresearch.com/industry-report/transmission-repair-market
EV Thermal Management Market
https://www.emergenresearch.com/industry-report/electric-vehicle-thermal-management-market
Cardiopulmonary Products Market
https://www.emergenresearch.com/industry-report/cardiopulmonary-products-market
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
Twitter
LinkedIn
1 https://www.emergenresearch.com/industry-report/acrylonitrile-market
![](https://www.einpresswire.com/tracking/article.gif?t=4&a=vKRmvkgTLgb4KZyd&i=ZxdzZfDXNSid3aDH)