ACRYLONITRILE MARKET ANALYSIS

Acrylonitrile MarketSize and Trends

The global acrylonitrile market size is projected to expand significantly in the near future, and grow at a CAGR of 3.8% over the forecast period (2019 - 2027).

Market Overview

Acrylonitrile is a volatile, clear liquid with a pungent odour, although, in the presence of impurities, it takes a faint yellow tint. Acrylonitrile is not a naturally occurring compound in the Earth's atmosphere, and is produced through catalytic ammoxidation of propylene. Its chemical formula is cCH2 CHCN, and it is classified as an organic compound owing to the presence of hydrogen atoms and carbon in its composition. Acrylonitrile can be polymerized into a substance called 'polyacrylonitrile', and the fibres of polyacrylonitrile can be used for producing a range of products such as fishing poles, bicycle frames, and tennis rackets.

Market Dynamics

Acrylonitrile has a wide range of industrial applications such as in the production of resins, rubber, elastomers, plastic, synthetic fibres, and carbon fibres used in the manufacture of drones, aircrafts and other equipment in the aerospace and defense industry. Demand for acrylonitrile is driven by the acrylic fiber industry, which is a key ingredient in the composition of acrylic fiber. Acrylic fibres are processed further into clothing (socks, hats, and sweaters), and are also used as precursors in the manufacture of carbon fibres which can be used in filtration systems and in the composite industry. In addition to acrylic fibres, acrylonitrile has another major application in the manufacturing of resins, thermoplastics, and rubber. The compound also has the ability to provide durability, heat resistance, and strength for application in end use industries such as construction, consumer goods, automotive, and wastewater treatment. The global acrylonitrile market is expected to be driven by significant demand from the construction industry in the near future. Also, growing awareness regarding wastewater treatment is likely to result in increasing consumption of acrylonitrile products in the industry.