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.

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. 

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.

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.

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.

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.

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.

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.

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.

PTT Asahi Chemical Co., Ltd., a 50:50 joint venture between Asahi Kasei Corp. and PTT Global Chemical, has announced plans to shut down its 200 kilo tons acrylonitrile production facility in Rayong, Thailand, by January 2025.