The Acrylonitrile Market is to Touch $20 Billion by 2030; increased demand for lightweight materials in automotive applications and advancements in polymer production technologies propels market growth.

The Acrylonitrile Market size is estimated to reach $20 billion by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Acrylonitrile Market – By Application (Acrylonitrile Butadiene Styrene (ABS), Acrylic Fibers Carbon Fiber, Nitrile Rubber, Adiponitrile, Styrene-Acrylonitrile Resin (SAR), Polyacrylamide (PAM) and Others), By End-use Industry (Building & Construction (Residential, Commercial, Industrial and Infrastructural), Automotive (Passenger Vehicles (PVs), Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs), Packaging (Rigid and Flexible), Electrical & Electronics (Home Appliances, Gadgets and Others), Medical & Pharmaceuticals (Drugs, Medical Equipments and Others), Textiles and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Rising use of acrylonitrile in the production of carbon fibers and expanding applications in the plastics industry are fueling the growth of the Acrylonitrile industry during the forecast period.

The Asia-Pacific region accounted for the largest share of the Acrylonitrile Market in 2023, holding up to 49% of the global market. This significant growth is attributed to the well-established automotive sector, the region's flourishing manufacturing base, and the ongoing process of rapid urbanization. The automotive industry, in particular, has been expanding steadily due to factors such as rising demand for public transportation, the increasing need for fuel-efficient vehicles, and the growing trend of vehicle electrification, which is further supported by rising income levels. China, as a global leader in the electric vehicle (EV) market, plays a major role in this expansion. The Chinese government has provided robust financial and non-financial incentives to drive EV sales. According to statistics from the China Passenger Car Association, total passenger EV sales in China in 2023 surged by 180.1% year-over-year, reaching nearly 4.99 million units—about half of all EVs sold globally. In India, the EV market is also on the rise, with 1.32% of all vehicle sales in FY21-22 being electric. In 2022, monthly EV sales showed steady growth, from 2,161 in April to 3,419 by September, demonstrating a continuous upward trend in adoption. 

Acrylonitrile, produced primarily using propylene, plays a critical role in the healthcare and pharmaceutical industries, particularly in the production of acrylic fibers. These fibers are widely used in various medical applications, including insulin pens, respiratory devices, drug delivery systems, miniature implants, and other medical equipment. As healthcare demand rises, so does the need for acrylic fibers in medical textiles such as wound dressings, surgical gowns, and bed linens. The Indian pharmaceuticals market is poised for substantial growth, with projections from the India Brand Equity Foundation (IBEF) indicating that the sector will reach USD 65 billion by 2024 and expand further to USD 120-130 billion by 2030. This increasing demand for healthcare products is driving the need for acrylonitrile, a vital component in the production of acrylic fibers used across these medical applications.

The electronics industry is witnessing rapid expansion, with acrylonitrile playing a crucial role in the production of home appliances, computer cases, and electronic gadgets, thanks to its lightweight properties, high impact resistance, and superior insulation. The demand for consumer electronics is soaring, driven by the rise in urbanization and the growing manufacturing base in regions like Asia-Pacific. Acrylonitrile is extensively used in high-performance electronic components due to its ability to withstand impact and provide insulation. As the production of consumer electronic devices continues to grow, the use of acrylonitrile in the electronics industry is expected to rise significantly. With increasing consumer demand and robust production capabilities, acrylonitrile remains a key material in ensuring durable and efficient products in the electronics sector.