Acrylonitrile Market To Grow USD 14570 million by 2028 with a CAGR of 3.3% | Valuates Reports

BANGALORE, India, Nov. 30, 2022 /PRNewswire/ -- Acrylonitrile Market is segmented by type (Propylene Method, Propane Method), by application (Acrylic Fibres, ABS and SAN resins, Acrylamide, NBR, Others) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.

Due to the COVID-19 pandemic, the global Acrylonitrile Market size is estimated to be worth USD 11990 million in 2022 and is forecast to a readjusted size of USD 14570 million by 2028 with a CAGR of 3.3% during the review period.

Major Factors Driving The Growth Of The Acrylonitrile Market

The acrylonitrile market has been expanding because of the strong demand for polymers from the construction and automotive industries for their durability, thermal stability, chemical resistance, and high strength.

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TRENDS INFLUENCING THE GROWTH OF THE ACRYLONITRILE MARKET

Butadiene offers strength and hardness, whereas acrylonitrile in ABS plastic provides chemical and thermal stability. The resulting polymer has a lovely, glossy sheen thanks to the styrene. ABS is simple to utilize in 3D printing and injection molding thanks to its low melting point. The finished plastic can withstand heavy use and unfavorable environmental conditions thanks to its high tensile strength, and excellent resistance to physical impacts, and chemical corrosion. Many automotive components, including the dashboard, bumpers, exterior panels, and others, are made of acrylonitrile butadiene styrene. The overall weight of an automobile is reduced when ABS material is used for these components, which increases demand. Further bolstering the expanding Acrylonitrile market is the technological development and innovation in the automotive sector.

Another significant product produced by the textile industry's use of acrylonitrile is acrylic fibers, which are then used to create finished goods including carpets, clothing, upholstery, fabric for furniture, rugs, and packaging materials. A few recent advancements in the acrylic fiber industry, such as the use of the material in the manufacture of carbon fibers, flame-retardant acrylic fiber, weather-resistant acrylic fiber, and antimicrobial acrylic fiber, have also increased market prospects. The market will expand as a result of improvements in processing and other technologies, which may make it possible to produce acrylic fibers from new sources. The Acrylonitrile market will experience growth during the assessment period thanks to all of these factors.