Global Acrylonitrile Market Demand & Forecast Analysis, 2016-2032

Acrylonitrile Market Size

The global acrylonitrile market was valued at USD 11.6 billion in 2022. It is projected to reach USD 17.4 billion by 2032, registering a CAGR of 4.2%. Asia Pacific is the largest market and will continue to witness the fastest growth over the forecast.

Acrylonitrile (ACN) is a volatile organic compound used to manufacture plastics, adhesives, and synthetic rubbers. It is a colourless liquid with pungent odour of garlic or onions, highly reactive and toxic at low doses. Produced from the catalytic ammoxidation of propylene, ACN is used in the production of several chemical products, including acrylonitrile butadiene styrene (ABS), styrene acrylonitrile (SAN), acrylamide, acrylic fibers, adiponitrile, nitrile rubber, and carbon fibers.

Acrylonitrile Supply Overview

The global acrylonitrile market is well supplied, with annual capacity exceeding 8,500 kilo tons in 2022. Besides being the largest consumer, Asia Pacific is also the largest producer of acrylonitrile, representing a nearly 70% share. Supply in the region resides in China, Japan, India, South Korea, Taiwan, and Thailand. While Asia Pacific has traditionally been a net importer of acrylonitrile supplies, the region has gradually reduced imports with the addition of new capacity. China, which remains the biggest manufacturer and consumer of acrylonitrile, has seen several capacity additions over the historical period, with more due to add in the upcoming years. Supply in the country is dominated by Jiangsu Sailboat, Shanghai SECCO, Zhejiang Petrochemical and PetroChina Jilin, collectively representing more than 60% share. It is thanks to several supply additions that China, a net importer traditionally, switched to a net exporter of ACN supplies beginning 2020.

USA follows China in the acrylonitrile supply, with capacity split between three producers: Ascend Performance Materials, Cornerstone Chemical, and INEOS Nitriles. With an annual production capacity exceeding 600 kilo tons, Western Europe is third-largest acrylonitrile manufacturer. Supplies in the region are produced only by Germany and Netherlands. Notably, UK was also an acrylonitrile producer, however, the sole producer in the country INEOS Nitriles decided to close its plant in 2020, citing unviability to invest any further to stay competitive.

Major players operating in the acrylonitrile market include INEOS, Ascend Performance Materials, Jiangsu Sailboat, PetroChina, Shanghai SECCO, Zhejiang Petrochemical, Shandong Group, Tong Suh Petrochemical, Asahi Kasei, and Formosa Plastics (FPC), among others.

Global Acrylonitrile Demand-Supply Analysis, 2016-2032 (Kilo Tons)

Global Acrylonitrile Demand-Supply Analysis, 2016-2032 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting Estimates

Acrylonitrile Market Segmentation

The acrylonitrile market in segmented by application into ABS & SAN resins, acrylamide, acrylic fiber, adiponitrile, nitrile rubber, carbon fiber, and others. ACN proportion in ABS is around 15% to 35%, while in that of SAN it is around 20% to 30%. ABS properties such as chemical, fatigue & heat resistance, hardness, and rigidity are contributed by acrylonitrile, while in SAN, ACN helps improve its mechanical properties. ABS is widely used in several end-use industries, including automotive, electrical & electronics, consumer goods, and building & construction, among others, while SAN finds use in household & consumer products, packaging, electrical & electronics, and certain automotive applications.

The acrylic fibers application includes the consumption of ACN in both acrylic fibers and modified acrylic (modacrylic) fibers. These are synthetic fibers produced from polyacrylonitrile (PAN), made from the free-radical polymerization of acrylonitrile. ACN composition in acrylic fibers is at least 85% by weight, while in that of modacrylic it is at least 35% but less than 85% by weight. Acrylic fibers are used in multiple textile products such as socks, hats, gloves, scarves, knitted clothes, furnishing fabrics, awning, and sweaters. 

Global Acrylonitrile Demand, By Application 2016-2032 (Kilo Tons)

Global Acrylonitrile Demand, By Application 2016-2032 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting Estimates
Acrylonitrile is electrochemically hydrodimerized to give adiponitrile. Adiponitrile is major precursor in polyamide 66 production. Nitrile rubber (NBR) is produced by emulsion polymerization of acrylonitrile and butadiene, and ACN content in it varies between 18% to 44%. It is used in products such as O-rings, seals, hoses, belts, cables, molded & extruded products, adhesives & sealants, and gloves. Carbon fibers find applications in industries like aerospace, military, automotive, and consumer goods.

Acrylonitrile Demand Overview

Collectively, ABS & SAN resins represent the dominant share in the global acrylonitrile market. Consumption of ACN was largest in acrylic fibers historically, however that changed as the material lost ground to polyester fiber, a comparatively cheaper alternative, over the years. It is now the second largest consuming application of acrylonitrile, followed by acrylamide. With new supply coming onstream in the coming years, acrylonitrile demand in carbon fibers is expected to register the fastest growth over the forecast period.

Asia Pacific dominated the global acrylonitrile market in 2022, followed by North America and Western Europe. Both Central & South America and Middle East & Africa are very small consumers of acrylonitrile, each representing a share less than 1%. Asia Pacific is anticipated to witness fastest growth over the forecast period, on the back of strong growth in demand from ABS & SAN resins from countries such as China, India, South Kora and ASEAN.

Global Acrylonitrile Demand, By Region, 2022 (Kilo Tons)

Global Acrylonitrile Demand, By Region, 2022 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting Estimates

Acrylonitrile Market Dynamics

Drivers

Increasing demand from ABS & SAN, acrylamide, and carbon fiber is a major driver for the growth of acrylonitrile market. Demand in these outlets is increasingly gaining traction, especially within the emerging economies. With manufacturers seeking to enhance the performance characteristics of their products, ABS is now widely preferred in industries such as automotive, electronics, and construction. SAN offers a balance of transparency, toughness, and chemical resistance, making it valuable in applications like consumer goods, packaging, and medical devices. As these industries continue to expand, the demand for acrylonitrile as a feedstock for ABS and SAN production is expected to rise, acting as a major driver for the overall growth of the acrylonitrile market.

Restraints

Volatility in raw material prices is a restraining factor in the acrylonitrile market. Since acrylonitrile is derived from propylene, fluctuations in crude oil prices directly impact its cost, leading to uncertainties in production costs for acrylonitrile manufacturers. This volatility can affect profit margins and hinder the overall growth of the acrylonitrile market. Looming overcapacity in China is also likely to restrain the growth of the acrylonitrile market.

Opportunities

Sizeable volumes of acrylonitrile are used in the production of chemical materials like ABS, SAN, acrylic fibers, acrylamide, and carbon fiber, contributing to a stable market demand. However, the development of new applications within these products will indirectly bolster the demand for acrylonitrile. Apart from these commodity markets, acrylonitrile is also used as a chemical intermediate in production of specialty chemicals. Acrylonitrile can undergo multiple reactions to produce amides, ketones & aldehydes, carboxylic acids, and amino acids, which are building block in specialty chemicals. Introduction of new applications within these chemicals thus poses an opportunity for the growth in acrylonitrile market. With increasing preference towards sustainability, the introduction of bio-acrylonitrile is also seen as a major opportunity for existing acrylonitrile market producers to tap into new bio based and sustainable markets during forecast period. INEOS Nitriles is already producing its bio-acrylonitrile at is Cologne, Germany facility.

Challenges

According to International Agency of Research on Cancer, acrylonitrile is class 2B carcinogen. It evaporates quickly at room temperature and upon reaching dangerous concentration, its immediate exposure can cause skin irritation, respiratory irritation, and eye irritation. Burning acrylonitrile can release toxic chemicals like hydrogen cyanide and oxides of nitrogen. With concerns of acrylonitrile being carcinogen, studies have also shown that materials containing acrylonitrile, leach out acrylonitrile with time, especially for products like acrylamide, SAN, and acrylic fibres. Such health concerns over acrylonitrile and its derivatives acts as a challenge in growth of acrylonitrile market.

Acrylonitrile Market Recent Developments

Saudi Arabia is set to become a producer of acrylonitrile, with INEOS signing agreement to develop a new plant at Jubail with a production capacity of 425 kilo tons/annum, scheduled to start operations in 2025.
Several new plants are set to add in China over the forecast. These include Jiangsu Sailboat’s 260 kilo tons/annum plant in 2024, CNOOC Hainan’s 200 kilo tons/year plant in 2023, Jiangsu Jiahong & Maoming Nanhai’s 260 kilo tons/year plant each in 2025, Sinochem Quanzhou’s 260 kilo tons/year plant in 2026, Hengli & Shandong Yulong Petrochemical’s 260 kilo tons/year each plant in 2027, Zhenhai Refining’s 400 kilo tons/year plant in 2025, and PetroChina Jilin’s 260 kilo tons/year plant in 2025.

Scope of Report 

The Acrylonitrile report describes the global Acrylonitrile market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand-Supply Analysis
•  Demand Composition, by Applications
•  Capacity & Production
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Supply Demand Balance 
•  Acrylonitrile Market data in terms of volume and value for each end-use 
   at regional and country level
•  Acrylonitrile Market analysis for Production, Capacity and Demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Application
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2021
          -  Base - 2022
          -  Forecast Period - 2023 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand-Supply Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance
      •  Automotive
      •  Electrical & Electronics
      •  Buildings & Construction
      •  Consumer Products
      •  Others
5.  Plants & Projects Analysis
      •  Acrylonitrile Production Capacity, by Company
      •  Acrylonitrile Production Capacity, by Country and by region
      •  Capacity Overview
6.  Introduction to Acrylonitrile and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
7.  Market Dynamics and Industry Trends 
      •  Market Dynamics 
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
8.  Global Acrylonitrile Demand-Supply Analysis, By Application (Volume, Value) (2016–2032) 
      •  Strategic Issues
      •  Demand-Supply Analysis and Forecast (2016 – 2032)
          -  Capacity
          -  Capacity Utilization (%)
          -  Production
          -  Imports
          -  Exports
          -  Net Exports
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Acrylonitrile Market, By Application 
          -  Acrylonitrile Butadiene Styrene (ABS) & Styrene Acrylonitrile (SAN) Resins
          -  Acrylic Fibers
          -  Acrylamide
          -  Adiponitrile
          -  Nitrile Rubber
          -  Carbon Fibre
          -  Others
9.  Demand-Supply Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)
      •  Strategic Issues
      •  Capacity
      •  Capacity Utilization (%)
      •  Production
      •  Imports
      •  Exports
      •  Net Exports
      •  Demand
      •  Demand Growth Rate (%)
      •  Acrylonitrile Market, By Application
Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand-supply (consumption) split by application, has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the application to arrive at the regional/global demand growth for the forecast period (2023 – 2032)
10.  Pricing Analysis
      •  Average Acrylonitrile Prices, USD/Kg
      •  Average Acrylonitrile prices, by Country 
      •  Average Acrylonitrile prices, by Region
      •  Price Forecast
11.  Key Strategic Issues
12.  Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
13.  Strategic Recommendation & Suggestions
14.  Company Analysis and Market Share Analysis
      •  Acrylonitrile Manufacturers Profiles/ Company Analysis
         -  Basic Details
         -  Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             -  INEOS
             -  PetroChina
             -  Asahi Chemicals
             -  Mitsubishi Rayon Chemicals
             -  Sinopec Group
             -  Ascend Performance Materials LLC
             -  Formosa Plastic Corporation
             -  Taekwang Industrial Company
             -  Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
15.  Appendices
      •  Demand-Supply - Regions
      •  Demand-Supply– Countries
      •  Capacities, 2016-2032

Scope of Report 

The Acrylonitrile report describes the global Acrylonitrile market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand-Supply Analysis
•  Demand Composition, by Applications
•  Capacity & Production
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Supply Demand Balance 
•  Acrylonitrile Market data in terms of volume and value for each end-use 
   at regional and country level
•  Acrylonitrile Market analysis for Production, Capacity and Demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment


Frequently Asked Questions

What is the current market size of acrylonitrile?
The global acrylonitrile market was valued at USD 11.6 billion in 2022. It is projected to reach USD 17.4 billion by 2032, registering a CAGR of 4.2%
Who are the key players in the Global acrylonitrile market?
Major players operating in the acrylonitrile market include INEOS, Ascend Performance Materials, Jiangsu Sailboat, PetroChina, Shanghai SECCO, Zhejiang Petrochemical, Shandong Group, Tong Suh Petrochemical, Asahi Kasei, and Formosa Plastics (FPC), among others.
Which region has the biggest share in acrylonitrile market?
Asia Pacific dominated the global acrylonitrile market in 2022, followed by North America and Western Europe. Both Central & South America and Middle East & Africa are very small consumers of acrylonitrile, each representing a share less than 1%.