Acrylonitrile Market

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.

The automotive industry plays a pivotal role in the Global Acrylonitrile Market Industry, as acrylonitrile is utilized in the production of various components, including interior and exterior parts. The increasing focus on lightweight materials to enhance fuel efficiency is likely to drive demand for acrylonitrile-based plastics. As the automotive sector continues to innovate, the market is expected to witness a compound annual growth rate of 1.86% from 2025 to 2035. This growth is indicative of the industry's commitment to integrating advanced materials that improve performance while reducing environmental impact.

The Global Acrylonitrile Market Industry is projected to experience notable growth, with a market value of 11.6 USD Billion in 2024 and an expected increase to 14.2 USD Billion by 2035. The compound annual growth rate of 1.86% from 2025 to 2035 reflects the industry's resilience and adaptability to changing market dynamics. Key factors driving this growth include the rising demand for synthetic fibers, advancements in production technologies, and the expansion of applications across various sectors. These trends indicate a robust outlook for the Global Acrylonitrile Market Industry, suggesting that stakeholders should remain vigilant to capitalize on emerging opportunities.

The Global Acrylonitrile Market Industry is bolstered by the expansion of chemical manufacturing capabilities worldwide. As countries invest in infrastructure and technology, the production of acrylonitrile is becoming more efficient and cost-effective. This trend is particularly evident in regions such as Asia-Pacific, where emerging economies are ramping up their chemical production. The anticipated market value of 14.2 USD Billion by 2035 underscores the potential for growth in this sector. Enhanced production techniques and increased capacity are likely to support the rising demand for acrylonitrile in various applications, further solidifying its market position.

The construction industry is increasingly adopting acrylonitrile-based products due to their favorable properties, such as resistance to chemicals and UV light. The Global Acrylonitrile Market Industry is witnessing a surge in demand for acrylonitrile-butadiene-styrene (ABS) plastics, which are widely used in construction materials and fixtures. As urbanization accelerates globally, the need for durable and sustainable building materials is expected to rise. This trend may lead to a significant increase in acrylonitrile consumption, thereby enhancing the market's growth prospects. The versatility of acrylonitrile in construction applications positions it as a critical component in future developments.

The Global Acrylonitrile Market Industry is experiencing heightened demand for synthetic fibers, particularly in the textile and automotive sectors. Acrylonitrile is a key precursor in the production of acrylic fibers, which are favored for their durability and versatility. As consumer preferences shift towards sustainable and high-performance materials, the market for acrylonitrile-based products is projected to expand. In 2024, the market is valued at 11.6 USD Billion, with expectations of growth driven by innovations in fiber technology. This trend suggests a robust trajectory for the Global Acrylonitrile Market Industry as manufacturers adapt to evolving consumer needs.

Technological advancements in the production of acrylonitrile are shaping the Global Acrylonitrile Market Industry. Innovations in catalytic processes and production efficiency are likely to reduce costs and environmental impact. These advancements not only enhance the quality of acrylonitrile but also expand its applicability across various industries. As manufacturers adopt these technologies, the market is expected to benefit from increased output and improved product characteristics. The ongoing evolution in production methods indicates a promising future for the Global Acrylonitrile Market Industry, as it aligns with sustainability goals and market demands.

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 (%)

Source: Secondary Research, Primary Research, Market Research Future 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.

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.