Acrylonitrile is a chemical compound that consists of carbon, and it has properties such as volatile, liquid, and colorless, obtained by linking of two atoms, vinyl group, and nitrile, it is a unique molecule that helps in polymerization for getting macromolecule like polyacrylonitrile. According to BlueQuark Research & Consulting, the Global Acrylonitrile market is expected to witness a moderate growth rate during the forecasted period. Factors like increasing usage in automobile industries due to its thermoplastic properties reduce the weight of the vehicles, which is predicted to increase the need of the Acrylonitrile market in the forecasted period. Further, the primary factor driving the growth of the acrylonitrile market is its substantial use in the construction industry for making interior grills, center consoles, headliners, and others which are expected to increase the demand of the Acrylonitrile market in the forecasted period. Furthermore, increasing applications in electronics and consumer appliances are driving the Global Acrylonitrile market's growth in the forecasted period. However, the change in prices of raw materials and the effects of acrylonitrile compounds on the environment, along with high toxicity and flammability, restrain the growth of the acrylonitrile market in the forecasted period.

Acrylonitrile is used in various chemicals like acrylonitrile butadiene styrene (ABS), acrylic fibers, styrene-acrylonitrile resins (SAR), nitrile rubber, and carbon fibers, among others. 

The automotive industry dominates the global Acrylonitrile market. Acrylonitrile is manufactured by the industrial process where propylene, ammonia, and air react at high temperatures using a catalyst. Acrylonitrile is utilized as a chemical intermediate in manufacturing various chemicals, including acrylic fibers, acrylamide, acrylonitrile butadiene styrene, nitrile rubber adiponitrile, carbon fibers, and others. Acrylonitrile and its compounds are widely used in the automotive and construction industries due to its superior chemical, thermal stability, high mechanical strength, and durability. Acrylonitrile butadiene styrene (ABS) is used in numerous automotive applications, such as dashboard components, instrument panels, door liners & handles, and seat belt components. The high demand for plastics in automobiles to reduce the vehicle's weight to reduce carbon emissions and improve vehicle efficiency propels the demand for ABS in the automotive industry and, consequently, Acrylonitrile. Acrylonitrile butadiene styrene (ABS) is a thermoplastic that provides a diverse combination of properties, like resistance to chemicals, heat, and impact. The consumption rate of ABS resins is increasing in the consumer appliances segment, the largest end-user segment, which accounts for about 40% of the global ABS resin consumption. Expanding the application of Acrylonitrile in different applications such as construction, pharmaceutical, construction, packaging, and others is expected to boost the market growth. Some more factors such as growth in the electrical & electronics industry rising usage of plastics in automobiles to decrease the overall weight of the vehicles. Growing demand from construction activities and increasing demand for bio-based Acrylonitrile produced using renewable feedstock are expected to accelerate the acrylonitrile market in the forecasted period. All the factors mentioned earlier are expected to impact the demand for Acrylonitrile during the forecasted period.

The Asia-Pacific region is awaited to be the most prominent regional market segment for Acrylonitrile. Rising demand for automobiles, electrical and electronic gadgets, home appliances, and dynamic economic development in India and China are the fueling factors in these regions. In recent years, China has become a worldwide industrial and manufacturing hub. The increase in the manufacturing of electrical and electronics appliances in China has resulted in increased demand for Acrylonitrile. The global acrylonitrile market is growing significantly due to driving factors such as surging demand from construction industries due to its unique properties such as high durability, strength, and heat resistance. Its desirable properties, such as strength and durability at low temperatures, resistance to chemicals, heat, and impact, find application in consumer appliances, electrical & electronics, and automobile industries. The rapid expansion of the construction sector has propelled the demand for Acrylonitrile. Acrylonitrile is a vital monomer widely incorporated during plastics manufacturing like polyacrylonitrile, acrylonitrile styrene acrylate, and other synthetic rubbers. It has an extensive range of applications in the electrical and electronics industries, among which the manufacture of body parts of different electronics gadgets is the primary application. Acrylonitrile also discovers its applications in the automotive manufacturing industry during essential components like seatbelts, instrument panels, dashboards, etc. The increase in the use of polyacrylonitrile and other plastics during automobiles helps reduce weight and increase efficiency. These are the major factors that improve the market growth during the forecast period. Further, increasing investments in oil & gas exploration and infrastructure trickle down to the rise in demand for Acrylonitrile-based products. The increasing applications on various aspects such as meters covers, tractor components, electronic lenses, etc., may provide a productive opportunity for the market players. Furthermore, countries like India and Japan have also contributed to the growth of the market studied. It is expected to further drive the demand in the acrylonitrile market over the forecast period.

The Global Acrylonitrile market is consolidated. Major companies in the market were INEOS, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, Sumitomo Chemical Co., Ltd, Ascend Performance Materials, and Sinopec Group, among others. 

In May 2019, Sinopec, one of the world's most enormous energy and chemical companies, increased the contract prices of Acrylonitrile in China by CNY 1,150, or USD 166, per ton. The May contractual and spot prices of CAN in the region were approved on ex-works delivery terms and amounted to USD 2,163 per ton.

In Jun 2019, INEOS successfully signed an agreement with Saudi Aramco and Total to invest USD 2 billion for building its first three plants in the Middle East. The three world-scale plants will produce key building blocks for carbon fiber, engineering polymers, and synthetic lubricants. The new 425,000-ton acrylonitrile plant will use INEOS' world-leading technology and catalyst.

Global Acrylonitrile Market report provides deep insight into the Acrylonitrile market's current and future state across various regions. The study comprehensively analyzes the Acrylonitrile market by segmenting based on Application (Acrylic Fiber, Acrylonitrile Butadiene Styrene (ABS), Polyacrylamide (PAM), Nitrile Butadiene Rubber(NBR) and Other applications), End-user industries (Automotive, Electrical & Electronics, Construction, Packaging, and Others) and Geography (North America, Asia-Pacific, South America, Europe, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also extensively researched competitive landscape sections with major companies' profiles, including their market shares and projects.