Acrylonitrile Market till 2035: Distribution by Type of Formulation, Type of Sustainability Focus, Type of Manufacturing Process, Areas of Application, Company Size, Type of Business Model, and Key Geographical Regions: Industry Trends and Global Forecasts

The global acrylonitrile market size is estimated to grow from USD 12.23 billion in the current year to USD 18.01 billion by 2035, at a CAGR of 3.58% during the forecast period, till 2035.

Acrylonitrile is a colorless, volatile liquid with a sharp odor, primarily synthesized from raw materials such as propylene, propane, and ammonia, with hydrogen cyanide and acetonitrile generated as byproducts. Its major application lies in the production of plastics such as polyacrylonitrile and acrylonitrile butadiene styrene (ABS), as well as in the manufacturing of acrylic fibers, which are extensively utilized in clothing and home textiles.

The acrylonitrile market is expected to experience substantial growth over the forecast period, largely driven by its increasing adoption across diverse industries including textiles, automotive, and construction. Rising demand for acrylic fibers, with widespread usage in apparel, furnishings, and industrial textiles, continues to be a key growth factor. Additionally, the expanding use of plastics and resins in packaging, automotive components, and construction materials is fueling market expansion. Another notable driver is the growing demand for synthetic rubber, where acrylonitrile serves as an essential raw material due to its reactivity and versatile properties. Overall, owing to the above mentioned factors, the acrylonitrile market is expected to grow significantly during the forecast period.

Acrylonitrile Market: Key Segments

Market Share by Type of Formulation

Based on type of formulation, the global acrylonitrile market is segmented into modified acrylonitrile and standard acrylonitrile. According to our estimates, currently, the standard acrylonitrile segment captures the majority of the market share, due to its extensive use in industries such as automotive and textiles, alongside established manufacturing methods and consistent demand from multiple sectors.

However, the modified acrylonitrile segment is expected to grow at a higher CAGR throughout the forecast period, propelled by its enhanced features like superior chemical resistance and thermal stability, which make it ideal for specialized applications that require improved.

Market Share by Type of Sustainability Focus

Based on type of sustainability focus, the global acrylonitrile market is segmented into bio-based acrylonitrile, and recycled acrylonitrile products. According to our estimates, currently, the bio-based acrylonitrile segment captures the majority of the market share. This can be attributed to the rising environmental awareness and a strong shift toward green manufacturing practices. The adoption of bio-based alternatives is increasing as companies aim to lower their carbon emissions, making bio-based acrylonitrile an increasingly preferred solution.

However, the recycled acrylonitrile product segment is expected to grow at a higher CAGR throughout the forecast period, propelled by the growing adoption of circular economy practices and rising sustainability awareness.

Market Share by Type of Manufacturing Process

Based on type of manufacturing process, the global acrylonitrile market is segmented into propane ammoxidation and propylene ammoxidation. According to our estimates, currently, the propylene ammoxidation segment captures the majority of the market share. This can be attributed to the increasing use of acrylonitrile in LED lighting and electronic displays.

Market Share by Areas of Application

Based on areas of application, the global acrylonitrile market is segmented into ABS, acrylic fibers, acrylamide, acrylonitrile butadiene rubber (NBR), adiponitrile, carbon fiber, nitrile rubber, styrene-acrylonitrile resin (SAR), and others. According to our estimates, currently, the acrylonitrile butadiene styrene (ABS) segment captures the majority of the market share, supported by its widespread use in automotive, electronics, consumer goods, and construction applications.

However, the carbon fiber segment is expected to grow at a higher CAGR throughout the forecast period, driven by the surging adoption of carbon fiber across industries such as aerospace and defense, automotive, renewable energy, and construction.

Market Share by Type of Enterprise

Based on type of enterprise, the global acrylonitrile market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share. However, the small and medium enterprise are expected to grow at a higher CAGR throughout the forecast period, due to their flexibility, innovative approaches, focus on specialized markets, and ability to quickly respond to evolving customer demands and market conditions.

Market Share by Geographical Regions

Based on geographical regions, the acrylonitrile market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia Pacific captures the majority share of the market. This can be attributed to uptake of acrylonitrile services, significant consumer expenditure, and the presence of major streaming platforms. This growth is primarily driven by the expanding construction industry, which boosts demand for building materials. Additionally, the region's growing textile and home furnishings sectors are also contributing positively to the market's expansion.

Acrylonitrile Market: Research Coverage

The report on the acrylonitrile market features insights on various sections, including:

• Market Sizing and Opportunity Analysis: An in-depth analysis of the acrylonitrile market, focusing on key market segments, including [A] type of formulation, [B] type of sustainability focus, [C] type of manufacturing process, [D] areas of application, [E] company size, [F] type of business model, and [G] key geographical regions.
• Competitive Landscape: A comprehensive analysis of the companies engaged in the acrylonitrile market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
• Company Profiles: Elaborate profiles of prominent players engaged in the acrylonitrile market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] acrylonitrile portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
• Megatrends: An evaluation of ongoing megatrends in the acrylonitrile industry.
• Patent Analysis: An insightful analysis of patents filed / granted in the acrylonitrile domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
• Recent Developments: An overview of the recent developments made in the acrylonitrile market, along with analysis based on relevant parameters, including [A] year of initiative, [B] type of initiative, [C] geographical distribution and [D] most active players.
• Porter’s Five Forces Analysis: An analysis of five competitive forces prevailing in the acrylonitrile market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
• SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
• Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the acrylonitrile market.

Key Questions Answered in this Report

• How many companies are currently engaged in acrylonitrile market?
• Which are the leading companies in this market?
• What factors are likely to influence the evolution of this market?
• What is the current and future market size?
• What is the CAGR of this market?
• How is the current and future market opportunity likely to be distributed across key market segments?

Reasons to Buy this Report

• The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
• Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
• The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.

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