Acrylonitrile Market Trends

Growth Drivers

• Growing need in the medical field - Propylene and other materials are used to manufacture acrylonitrile, which finds extensive use in the pharmaceutical and medical industries for a variety of products including drug delivery systems, insulin pens, tiny implants, and respiratory devices. The India Brand Equity Foundation (IBEF) projects that the country's pharmaceutical industry would grow to be worth USD 65 billion by 2024 and USD 120–130 billion by 2030.
  
  Acrylic fibers find application in a range of medical contexts, including surgical gowns, bed linens, and wound dressings. The requirement for acrylonitrile, a necessary component in the creation of acrylic fibers utilized in various applications, is rising along with the demand for healthcare products, leading to acrylonitrile market expansion.
• Prosperous development in the electronics sector - Because of its exceptional qualities, including its high impact resistance, insulation, and lightweight nature, acrylonitrile finds extensive use in the electrical and electronics industry for products such as computer cases, electronic devices, and home appliances.
  
  Urbanization, a rising production base, and the strong demand for consumer electronics are all contributing to the electronics industry's rapid expansion. Globally, the number of people living in cities increased dramatically from 751 million in 1950 to 4.2 billion in 2018.
   
• Increasing use of acrylic fiber - The growing use of acrylic fibers is driving up demand in acrylonitrile market. Furthermore, the Asia Pacific region's expanding textile and apparel sectors will aid in the development of the industry due to the region's fast urbanization.
  
  Acrylic fibers are very resistant to UV damage, microbiological attack, and laundry bleach. Because they are lightweight, these fibers are great choices for clothing. It serves as the primary raw material in the production of acrylic fibers. The textile and apparel industries employ acrylic fiber because of its excellent performance and lightweight nature.
  
  However, the emergence of new, less priced polyester fibers may cause the demand to decline. Additionally, it is predicted that the market for acrylic fibers will be hampered by the desire for bio-based polymers, especially in developed nations. Polymers made from renewable "raw materials" may soon challenge over-the-counter plastics as annual sales increase by 20% to 30%.

Challenges

• Negative effects of acrylonitrile - When acrylonitrile comes into contact with open flames, it can catch fire and explode. Environmental exposure to acrylonitrile has negative effects on soil, air, water, and other substances. It forms photochemical smog, which harms the environment, when it combines with formaldehyde and other volatile organic compounds (VOCs), hydrogen cyanide, and other substances.
  
  Furthermore, acrylonitrile poses a serious risk to human health because it can cause serious side effects as breathing difficulties and skin irritations, among others. The increasing amount of acrylonitrile trash being disposed of outdoors has an effect on the atmosphere. The market thus faces a significant slowdown as a result of the preventative and environmental restrictions that impact the applicability and expansion scope for acrylonitrile and other types.
   
• Price fluctuations for basic materials - Propylene and ammonia are needed to produce acrylonitrile, and their costs might fluctuate because of a number of causes, including imbalances in supply and demand, geopolitical unrest, and natural calamities. These price swings may have an impact on manufacturers' profit margins and consumer prices, which in turn may have an effect on the acrylonitrile market.