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Textile And Apparel Industries Fueling Growth In The Acrylonitrile Market: The Driving Engine Behind Acrylonitrile Market Evolution in 2025
Acrylonitrile Market Size
Acrylonitrile Market Size Growth Forecast: What to Expect by 2025?
The market size for acrylonitrile has been significantly expanding in the preceding years. It is projected to increase in size from $14.49 billion in 2024 to $15.25 billion in 2025, with a compound annual growth rate (CAGR) of 5.2%. The impressive growth during the past period can be credited to various factors such as escalating demand from the automotive sector, burgeoning growth in the petrochemical industry, heightened environmental consciousness, finance injected in research and development, and infrastructural progress.
How Will the Acrylonitrile Market Size Evolve and Grow by 2029?
The acrylonitrile market is anticipated to experience substantial expansion in the foroming years, ballooning to $20.06 billion by 2029, with a compound annual growth rate (CAGR) of 7.1%. The projected growth during this period is attributable to factors such as initiatives in the circular economy, market digitization, changing global trade scenarios, escalating demand for consumer appliances, and a surge in the requirement for plastics. Significant trends observed during the prediction period encompass bio-based acrylonitrile, sustainable manufacturing, technological progress, innovations in mixed materials, and energy efficiency.
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What Drivers Are Propelling the Growth of Acrylonitrile Market Forward?
The acrylonitrile market is projected to expand, driven by the growth of the textile and apparel industries. These industries consist of two key areas: raw materials transformed into textiles and fabrics, and these fabrics used to manufacture clothing and other accessories. The surging demand for acrylonitrile is fuelled by the increased need for acrylic fibers, driven by the growing textile, garment, and other related industries. As per the report presented by India Brand Equity Foundation (IBEF), an Indian government export promotion agency, in April 2022, handcrafted exports from India reached $2.13 billion between April 2021 and September 2021, recording a year on year growth of 60.34%, due to increased participation of industry players in promoting artisanal products globally. Additionally, it is anticipated that by 2030, India's cotton production will achieve 7.2 million tons (equivalent to 43 million bales of 170 kg each), stimulated by heightened consumer demand. Thus, the expansion of the textile and apparel industries is fostering the growth of the acrylonitrile market.
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Which Emerging Trends Are Transforming the Acrylonitrile Market in 2025?
Top firms active in the acrylonitrile market are prioritizing developing innovative products like Invireo TM. This product serves as an acrylonitrile that provides a considerable reduction in carbon footprint compared to its conventional fossil acrylonitrile counterpart. For instance, in June 2023, a petrochemical manufacturer based in the UK, INEOS Nitriles, introduced InvireoTM. This bio-attributed line of products for acrylonitrile is derived from sustainable feedstock and decreases the carbon footprint of the final product by over 90%.
What Are the Key Segments in the Acrylonitrile Market?
The acrylonitrile market covered in this report is segmented -
1) By Application: Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene, Acrylamide, Carbon Fiber, Nitrile Rubber, Other Applications
2) By End User: Automotive, Electrical & Electronics, Construction, Packaging, Other End Users
Subsegments:
1) By Acrylic Fiber: Textiles, Industrial Uses
2) By Adiponitrile: Nylon Production, Polymer Intermediates
3) By Styrene Acrylonitrile (SAN): Packaging, Consumer Goods
4) By Acrylonitrile Butadiene Styrene (ABS): Automotive Components, Electronics, Consumer Goods
5) By Acrylamide: Water Treatment Chemicals, Soil Stabilizers, Other Industrial Applications
6) By Carbon Fiber: Aerospace and Aviation, Automotive, Sports Equipment
7) By Nitrile Rubber: Automotive Seals and Hoses, Disposable Gloves, Gaskets and O-Rings
8) By Other Applications: Adhesives, Coatings, Specialty Chemicals
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Who Are the Key Players Shaping the Acrylonitrile Market's Competitive Landscape?
Major companies operating in the acrylonitrile market include INEOS Group Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, Chemelot Campus, Lukoil, Lenntech B.V., Sumitomo Chemical Company Limited, Ascend Performance Materials LLC, Taekwang Industrial Co. Ltd., Repsol S.A., China Petroleum & Chemical Corporation (Sinopec), Solvay S.A., Shanghai Secco Petrochemical Company Limited, Formosa Plastics Corporation, LUC Group, Taixing Yangzi River Petrochemical Co. Ltd., CNPC Jilin Chemical Group, Reliance Industries Limited, Lotte Chemical Corporation, Toray Industries Inc., Thai Acrylic Fiber Co. Ltd., Gihi Chemicals Co., Blackwell Plastics, CHIMEI, Zibo Qixiang Tengda Chemical Co. Ltd., CPDC (Chang Chun Plastics Co. Ltd.), LG Chem, Krada CPS Industry S.L, Nanjing Chemical Material Corp.
What Geographic Markets Are Powering Growth in the Acrylonitrile Market?
Asia-Pacific was the largest region in the acrylonitrile market in 2024. North America was the second-largest region in the acrylonitrile market. The regions covered in the acrylonitrile market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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