ACRYLONITRILE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Acrylonitrile Market Analysis:

During the forecast period, the global acrylonitrile market is anticipated to exhibit a compound annual growth rate (CAGR) of over 4.5%. The market experienced a negative impact from the COVID-19 pandemic in 2020; however, it has since recovered significantly in the 2021-22 period due to increased industrial activities that have led to higher consumption of acrylonitrile in various applications, including acrylic fiber and acrylonitrile butadiene styrene production.

Over the medium term, the market's growth is being driven by the increasing demand for acrylonitrile butadiene styrene (ABS) in the automotive and construction industries, as well as its growing applications in electronics and consumer appliances. Conversely, the market is expected to face significant hindrances from competition with low-priced polyester fibers in the textile industry. Nonetheless, the emergence of budding wastewater treatment applications is likely to provide new growth opportunities for the market.

During the forecast period, the Asia-Pacific region is expected to dominate the global market and account for the largest share.

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