The Acrylonitrile Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Acrylonitrile Market:
https://www.thebusinessresearchcompany.com/report/acrylonitrile-global-market-report
According to The Business Research Company’s Acrylonitrile Global Market Report 2024, The acrylonitrile market size has grown strongly in recent years. It will grow from $13.82 billion in 2023 to $14.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to demand from automotive industry, rise in petrochemical industry, environmental awareness, investment in research & development, infrastructure development .
The acrylonitrile market size is expected to see strong growth in the next few years. It will grow to $18.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to circular economy initiatives, market digitization, global trade dynamics, increasing demand for consumer appliances, rising demand for plastics . Major trends in the forecast period include bio-based acrylonitrile, sustainable production, technological advancements, innovation in blended materials, energy efficiency.
The growing textile and apparel industries are expected to propel the growth of the acrylonitrile market going forward. The apparel and textile industry is divided into two major segments, textile and fabric production from raw materials and the transformation of these fabrics into clothing and other accessories. The increasing need for acrylic fibers caused by the expansion of the textile, garment, and other industries drives the demand for acrylonitrile. For instance, in April 2022, according to a report shared by India Brand Equity Foundation (IBEF), an Indian government export promotion agency, handcrafted exports from India reached $ 2.13 billion between April 2021 and September 2021, a 60.34% YoY growth due to increased industry participants’ participation in promoting handicraft products in international markets. In addition, by 2030, India’s cotton production is expected to reach 7.2 million tons (or 43 million bales of 170 kg each), spurred by rising consumer demand. Therefore, the growth in the textile and apparel industries is driving the growth of the acrylonitrile market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=7616&type=smp
The acrylonitrile market covered in this report is segmented –
1) By Application: Acrylic Fiber, Adiponitrile, Styrene Acrylonitrile, Acrylonitrile Butadiene Styrene, Acrylamide, Carbon Fiber, Nitrile Rubber, Other Applications
2) By End User: Automotive, Electrical & Electronics, Construction, Packaging, Other End Users
Major companies operating in the acrylonitrile market are focusing on innovating products, such as the Invireo TM, to provide reliable services to customers. InvireoTM is used as an acrylonitrile that delivers a significant carbon footprint reduction compared to traditional fossil acrylonitrile. For instance, in June 2023, INEOS Nitriles, a UK-based manufacturer of petrochemicals, launched InvireoTM. Invireo TM is a bio-attributed product line for acrylonitrile, which is produced from sustainable feedstock’s. InvireoTM reduces the carbon footprint of the end product by more than 90%.
The acrylonitrile market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
