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By Trend

Asia is expected to lead the global acrylonitrile industry capacity additions by 2026, Trend reports with reference to GlobalData, a leading data and analytics company.

The report reveals that the region’s share will stand at 99.6 percent from new-build projects between 2022 and 2026, with total acrylonitrile capacity addition in Asia reaching 2.49 million tonnes per annum (mtpa).

Nivedita Roy, Oil and Gas Analyst at GlobalData, estimates that Asia is set to gain acrylonitrile capacity additions from around 10 new-build planned projects.

“The capacity additions will be driven by an increase in acrylonitrile consumption in textile and garment industries, where there is a growing need for acrylic fibers,” she

GlobalData analysts note that China is the major country in Asia in terms of acrylonitrile capacity additions. The main capacity additions in the country would be from five planned projects.

“With a capacity of 0.26 mtpa each, the projects include Hengli Petrochemical New Material Dalian Acrylonitrile Plant, Jiangsu Sailboat Petrochemical Lianyungang Acrylonitrile Plant 2, Jiangsu Sailboat Petrochemical Lianyungang Acrylonitrile Plant 3, Jinneng Science & Technology Company Qingdao Acrylonitrile Plant, and Shandong Yulong Petrochemical Longkow Acrylonitrile Plant,” the report says.

The global acrylonitrile market size was valued at $11.87 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 1.3 percent from 2022 to 2030, according to the Grand View Research.

“The increasing demand for acrylonitrile from end-use industries, such as automotive and construction, is expected to drive the industry. Due to the growing construction industry, the consumption of acrylonitrile is increasing, which is projected to positively influence industry growth. Acrylonitrile is used in producing derivatives, such as acrylonitrile butadiene styrene, acrylic fiber, acrylamide, carbon fiber, and nitrile rubber, which are being utilized in the construction industry. As the plastics made using the product show many properties, such as chemical resistance, durability, high strength, and thermal stability, acrylonitrile is estimated to witness high demand in the near future.”

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