Acrylonitrile market to reach USD 17.04 billion by 2032, driven by demand in automotive, electronics.
From GlobeNewswire: 2025-03-04 10:00:00
The acrylonitrile market is projected to reach USD 17.04 billion by 2032, with a CAGR of 3.54%. Rising demand for automotive acrylic resins and specialty polymers, along with carbon fiber production, are key drivers. Environmental regulations are also pushing for sustainable production methods, creating market opportunities.
The electronics industry’s growth is fueling the acrylonitrile market, with materials used in consumer electronics and 5G infrastructure. IoT and AI technologies are driving demand for high-performance plastics. Asia-Pacific leads market growth, with China as the primary producer and consumer. North America dominates the market, driven by a strong chemical industry and demand for high-performance applications.
ABS held the largest market share in 2023, used in automotive and electronics industries for its impact resistance and lightweight properties. INEOS Group, Asahi Kasei Corporation, and LG Chem have made recent developments to meet rising demand and align with sustainability goals. The market is segmented by application, with ABS accounting for 27% of total revenue. The Acrylonitrile Market is projected to grow at a CAGR of 3.5% from 2024 to 2032, reaching a value of $8.9 billion. This growth is driven by the increasing demand for acrylic fibers and resins in various industries, including textiles, automotive, and construction. To access the full research report, visit https://www.snsinsider.com/checkout/5664.
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