Acrylonitrile Market Research Report Global Forecast—till 2030

Acrylonitrile Market Research Report Information By Application (ABS, Carbon Fiber, Acrylic Fibers, Acrylamide), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

ID: MRFR/CnM/2138-HCR | 140 Pages | Author: Anshula Mandaokar | March 2024         

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Global Acrylonitrile Market Overview


The Acrylonitrile Market Size was valued at USD 11.19 Billion in 2022. The Acrylonitrile market industry is projected to grow from USD 11.45 Billion in 2023 to USD 13.33 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 1.3% during the forecast period (2023 - 2030). The increasing demand for acrylonitrile from end-use industries, such as automotive and construction, is expected to drive the industry. Due to the growing construction industry, the consumption of acrylonitrile is increasing, which is projected to positively influence industry growth. Acrylonitrile is used in producing derivatives, such as acrylonitrile butadiene styrene, acrylic fiber, acrylamide, carbon fiber, and nitrile rubber, which are being utilized in the construction industry. As the plastics made using the product show many properties, such as chemical resistance, durability, high strength, and thermal stability, acrylonitrile is estimated to witness high demand shortly.


Acrylonitrile Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Acrylonitrile Market Trends




  • High demand in the automobile and construction industries boosts the market growth.




The product demand is also increasing in the consumer appliances industry as it showcases properties, such as heat resistance and chemical resistance. Changing lifestyles, growing consumer preferences, and increasing per capita income are expected to drive the demand for the consumer appliances market, which, in turn, will fuel the demand for acrylonitrile in the consumer appliances industry. The growth in the automotive industry is also projected to increase the consumption of acrylonitrile. Due to its low weight and high strength & durability at low temperatures, it is widely used in the automotive industry. Acrylic fibers have high demand, especially in the automotive industry, which is further estimated to contribute to the industry's growth. 


Additionally, the demand for acrylonitrile is increasing due to the increasing use of acrylic fibers. Moreover, growing textile and garment industries in the Asia Pacific, because of rapid urbanization, will also support industry development. Acrylic fibers have a strong resistance to microbiological attack, UV deterioration, and laundry bleach. These fibers are excellent choices for clothes as they are lightweight. It is the main raw material used for manufacturing acrylic fibers. Due to the lightweight and high performance of acrylic fiber, it is used in the textile & garment industry. However, the demand may reduce due to the introduction of new, inexpensive polyester fibers. It is also anticipated that the preference for bio-based polymers, particularly in developed economies, will hamper the acrylic fibers demand.


Acrylonitrile Market Segment Insights


Acrylonitrile Application Insights


The Acrylonitrile market segmentation, based on Application, includes ABS, Carbon Fiber, Acrylic Fibers, and Acrylamide. The acrylonitrile butadiene styrene dominated the industry in 2021 and accounted for the highest share of more than 28.60% of the overall revenue. This is due to the product’s increasing use in automotive, electronics, consumer goods, and the construction industry as it is easy to install and lightweight. In addition, the product has strong mechanical strength and is corrosion-resistant & more durable than PVC. The carbon fiber segment is expected to register the fastest growth rate over the forecast period as it is strong, light, and extremely stiff, which makes it useful in building materials.


Carbon fiber is widely used in the aerospace & defense, automotive, alternative energy, and construction industries. The market for carbon fiber is likely to grow at a faster pace in Asian countries on account of the high spending on-aerospace technology, especially in countries, such as China and India. However, high prices of carbon fiber are anticipated to significantly restrict its demand in the coming years. Nitrile rubber, a synthetic rubber, is obtained from the copolymerization of butadiene and acrylonitrile. It is used as a synthetic rubber due to its resistance to oil and solvents. 


Figure 2:  Acrylonitrile Market, by Application, 2023 & 2030 (USD Billion)


Acrylonitrile Market, by Application, 2023 & 2030


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Acrylonitrile Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific region dominated the industry with the highest revenue share of more than 55.70% in 2021. This is attributed to the increasing demand for building materials on account of the growing construction sector. Furthermore, rising demand from the textile and home furnishing industries is expected to positively influence the segment. The developing countries of Asia Pacific, such as India and China, are focusing on the construction of commercial and new residential buildings, and this trend is expected to increase in the future. Factors, such as the high demand for efficient building materials and advances in civil construction, also drive the regional market.


Figure 3:  ACRYLONITRILE MARKET SHARE BY REGION 2023 (%)


ACRYLONITRILE MARKET SHARE BY REGION 2023


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


The leading players have a strong presence in the Asia Pacific region and continue to invest in organic growth through joint ventures and licensing agreements. The shifting of end-use industries, such as automotive, marine, and furniture, to cost-competitive countries, is driving the ABS segment in these countries. North America is expected to witness significant growth owing to the strong presence of key companies, such as Ascend Performance Material in the U.S. The prime focus of the aforementioned companies on new product developments in automobile products and construction products is expected to promote industry growth over the forecast period.


Acrylonitrile Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the Acrylonitrile market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Acrylonitrile industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Acrylonitrile. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Acrylonitrile industry must offer affordable products.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Acrylonitrile industry to benefit customers and expand the market sector. The Acrylonitrile market has recently given medicine some of the most important advantages. Major Acrylonitrile market players, including Asahi Kasei Corporation (Japan), Solvay (US), AnQore, Koninklijke DSM NV (Netherlands), Ascend Performance Materials (US), and others, are attempting to increase market demand by funding R&D initiatives.


Asahi Kasei is a chemical company focused on materials, homes, and healthcare sectors. In the materials area, it provides chemical intermediates, polymers, fibers and membranes, alkaline water electrolysis systems cleaners, optical and printing materials, electronic devices and components, household products, etc. In the healthcare segment, the company develops pharmaceuticals and diagnostic reagents.


Also, Solvay is an advanced materials and specialty chemicals company. It operates through three segments: Materials, Chemicals, and Solutions. The Materials segment provides specialty polymers and composite materials. The Chemicals segment offers amines, antioxidants and stabilizers, composites, mining chemicals, polymers, surfactants, etc.


Key Companies in the Acrylonitrile market include



  • Asahi Kasei Corporation (Japan),

  • Solvay (US),

  • AnQore, Koninklijke DSM NV (Netherlands),

  • Ascend Performance Materials (US),

  • INEOS (UK),

  • LUKOIL (Russia),

  • Mitsubishi Chemical Corporation (Japan),

  • Taekwang Industrial Co. Ltd (South Korea),

  • Formosa Plastics Corporation (Taiwan),

  • Sumitomo Chemical Co., Ltd (Japan),

  • Lenntech BV (Netherlands), and

  • Repsol (Spain).


Acrylonitrile Industry Developments


In June 2021, The manufacturer of petrochemical products in South Korea, Taekwang Industrial, will set up an acrylonitrile joint venture plant with LG Chem to meet the rising demand in the market. Commercial production of the facility with a yearly manufacturing capacity of 260,000 tons is to start in 2024. Acrylonitrile is a vital monomer for producing useful plastics and important copolymers, such as synthetic rubbers or acrylonitrile butadiene styrene (ABS). Taekwang Industrial supplies almost 1/3rd of South Korea's acrylonitrile.


April 2021, Trillium Renewable Chemicals, Birmingham, Ala., a new start-up company, announced plans to manufacture chemicals from renewable feedstocks, such as acrylonitrile, for ABS with a net-zero footprint as per CEO Corey Tyree's statement. He said that the technology would improve the GHG (greenhouse gas) footprint and the supply chain security of ABS makers. The latest start-up was jointly built by Capricorn Partners and Southern Research (SR), Belgium-based venture capital and investment firm, an independent nonprofit, scientific research organization with over 400 engineers and scientists working together.


Acrylonitrile Market Segmentation


Acrylonitrile Application Outlook



  • ABS

  • Carbon Fiber

  • Acrylic Fibers

  • Acrylamide


Acrylonitrile Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD  11.19 Billion
Market Size 2023 USD 11.45 Billion
Market Size 2030 USD 13.33 Billion
Compound Annual Growth Rate (CAGR) 1.3% (2023-2030)
Base Year 2023
Market Forecast Period 2023-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Asahi Kasei Corporation (Japan), Solvay (US), AnQore, Koninklijke DSM NV (Netherlands), Ascend Performance Materials (US), INEOS (UK), LUKOIL (Russia), Mitsubishi Chemical Corporation (Japan), Taekwang Industrial Co. Ltd (South Korea), Formosa Plastics Corporation (Taiwan), Sumitomo Chemical Co., Ltd (Japan), Lenntech BV (Netherlands), and Repsol (Spain)
Key Market Opportunities  In the post-COVID-19 world, many manufacturers of this base chemical are seeing that this is a market where they can make lots of money in.
Key Market Dynamics High demand in the automobile and construction industries.




Frequently Asked Questions (FAQ) :

The Acrylonitrile market size was valued at USD  11.19 Billion in 2022.

The Acrylonitrile market is projected to grow at a CAGR of 1.3% during the forecast period, 2023-2030.

Asia Pacific had the largest share of the Acrylonitrile market.

The key players in the Acrylonitrile market are Asahi Kasei Corporation (Japan), Solvay (US), AnQore, Koninklijke DSM NV (Netherlands), Ascend Performance Materials (US), INEOS (UK), LUKOIL (Russia), Mitsubishi Chemical Corporation (Japan), Taekwang Industrial Co. Ltd (South Korea), Formosa Plastics Corporation (Taiwan), Sumitomo Chemical Co., Ltd (Japan), Lenntech BV (Netherlands), and Repsol (Spain)

The French/indirect categories dominated the Acrylonitrile market in 2023.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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