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Global Acrylonitrile Market to reach USD 13.16 billion by the end of 2029.

Global Acrylonitrile Market Size study & Forecast, by Application (Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene (ABS), Acrylamide, Carbon Fiber, Nitrile Rubber, Others), and Regional Analysis, 2022-2029

Product Code: CMAM-71768929
Publish Date: 1-04-2023
Page: 200

Global Acrylonitrile Market is valued at approximately USD 11.87 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 1.3% over the forecast period 2022-2029. Acrylonitrile, often known as CH2CHCN, is a colorless volatile liquid. It is an organic substance that can turn yellow due to the presence of impurities. It is made using an ammoxidation process in which propylene, ammonia, and air are reacted at high temperatures in the presence of a catalyst. Plastics like ABS, SAN, ASA, and acrylonitrile-butadiene rubber are produced using acrylonitrile, a highly reactive and potentially dangerous monomer. The demand for plastics used in the construction and automotive industries is growing, in part because of the qualities of durability, thermal stability, chemical resistance, and high strength that these materials possess. This is the main driver of the acrylonitrile market’s expansion.

In addition, Acrylonitrile is primarily used in the manufacturing of plastics such as acrylonitrile butadiene styrene, acrylonitrile styrene acrylate, styrene-acrylonitrile, and others. The high demand for these plastics from the construction, automotive, and other industries is anticipated to drive the acrylonitrile market. In 2021, global plastics output was projected to reach 390.7 million metric tons, representing a 4% yearly rise. The extraordinary adaptability of this category of materials explains why manufacturing continues to rise year after year. Further driving this market is the increased demand for plastics from various end-use industries. According to Statista, the worldwide plastics market was projected to be valued at $593 billion in 2021. The plastics industry is expected to develop in the following years, reaching a value of more than 810 billion US dollars by 2030, with a CAGR of 3.7 per cent from 2022 to 2030. Furthermore, the high demand for acrylonitrile in the automotive industry, coupled with its application in budding wastewater treatment is presenting lucrative opportunities for market growth over the forthcoming years. However, Competition in the Textile Industry from Cheap Polyester Fibers is restricting the market growth over the forecast period of 2022-2029.

The key regions considered for the Global Acrylonitrile Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increased need for construction materials due to the expanding construction sector, and the industry is expected to benefit from rising demand from the textile and home furnishings industries. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as strong market players and new developments in products are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
INEOS Group Ltd.
China Petrochemical Development Corp.
Asahi Kasei Advance Corp.
Ascend Performance Materials LLC
Reliance Industries Limited
Formosa Plastics Corp.
Mitsubishi Chemical Corp.
Taekwang Industrial Co., Ltd.
Sumitomo Chemical Co., Ltd.

Recent Developments in the Market:
 In February 2023, Asahi Kasei Homes has agreed to acquire Arden Homes Pty Ltd, an Australian home construction operator, through its Australian affiliate NXT Building Group Pty Ltd. Asahi Kasei Homes and NXT will collaborate closely with Arden Homes’ present management team, which has extensive knowledge and experience in the Victorian market, to expand the home-building company in Australia.
 In January 2023, INEOS Enterprises signed an agreement to acquire MBCC Group’s Admixture Company from Sika AG. These well-invested and well-positioned locations give new prospects for INEOS to grow in the construction sector.
 In January 2023, Sumitomo Chemical agreed to acquire FBSciences Holdings, Inc., a company based in the United States that specialises in bio stimulants, a class of organically derived agricultural ingredients.
 In March 2022, Ascend Performance Materials has agreed to acquire Formulated Polymers Limited’s compounding division, a major engineered materials firm based in Chennai, India. Ascends first production base in the subcontinent will be established as a result of this acquisition, which will also extend Ascends global footprint in the electrical and e-mobility application arena.

In Global Acrylonitrile Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Acrylic Fiber
Styrene Acrylonitrile
Acrylonitrile Butadiene Styrene (ABS)
Carbon Fiber
Nitrile Rubber
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Acrylonitrile Market, by Region, 2019-2029 (USD Billion)
1.2.2. Acrylonitrile Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Acrylonitrile Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Acrylonitrile Market Dynamics
3.1. Acrylonitrile Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing Need for Acrylonitrile Butadiene Styrene (ABS) in the Automotive and Construction Industries. Extending applications in consumer electronics and appliances.
3.1.2. Market Challenges Competition in the Textile Industry from Cheap Polyester Fibers.
3.1.3. Market Opportunities Increasing demand for acrylonitrile in automotive industry Application in budding wastewater treatment.
Chapter 4. Global Acrylonitrile Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Acrylonitrile Market, by Application
6.1. Market Snapshot
6.2. Global Acrylonitrile Market by Application, Performance – Potential Analysis
6.3. Global Acrylonitrile Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
6.4. Acrylonitrile Market, Sub Segment Analysis
6.4.1. Acrylic Fiber
6.4.2. Adiponitrile
6.4.3. Styrene Acrylonitrile
6.4.4. Acrylonitrile Butadiene Styrene (ABS)
6.4.5. Acrylamide
6.4.6. Carbon Fiber
6.4.7. Nitrile Rubber
6.4.8. Others
Chapter 7. Global Acrylonitrile Market, Regional Analysis
7.1. Acrylonitrile Market, Regional Market Snapshot
7.2. North America Acrylonitrile Market
7.2.1. U.S. Acrylonitrile Market Application breakdown estimates & forecasts, 2019-2029
7.2.2. Canada Acrylonitrile Market
7.3. Europe Acrylonitrile Market Snapshot
7.3.1. U.K. Acrylonitrile Market
7.3.2. Germany Acrylonitrile Market
7.3.3. France Acrylonitrile Market
7.3.4. Spain Acrylonitrile Market
7.3.5. Italy Acrylonitrile Market
7.3.6. Rest of Europe Acrylonitrile Market
7.4. Asia-Pacific Acrylonitrile Market Snapshot
7.4.1. China Acrylonitrile Market
7.4.2. India Acrylonitrile Market
7.4.3. Japan Acrylonitrile Market
7.4.4. Australia Acrylonitrile Market
7.4.5. South Korea Acrylonitrile Market
7.4.6. Rest of Asia Pacific Acrylonitrile Market
7.5. Latin America Acrylonitrile Market Snapshot
7.5.1. Brazil Acrylonitrile Market
7.5.2. Mexico Acrylonitrile Market
7.5.3. Rest of Latin America Acrylonitrile Market
7.6. Rest of The World Acrylonitrile Market

Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. INEOS Group Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. China Petrochemical Development Corp.
8.2.3. Asahi Kasei Advance Corp.
8.2.4. Ascend Performance Materials LLC
8.2.5. Reliance Industries Limited
8.2.6. Formosa Plastics Corp.
8.2.7. Mitsubishi Chemical Corp.
8.2.8. LUKOIL Corp.
8.2.9. Taekwang Industrial Co., Ltd.
8.2.10. Sumitomo Chemical Co., Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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