Bio-Based Acrylonitrile Market Size (2024 - 2030)

The Global Bio-Based Acrylonitrile Market was valued at USD 165.54 million and is projected to reach a market size of USD 262.36 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 6.8%.

Bio-based acrylonitrile is a crucial component in the creation of several materials, such as plastics, elastomers, and fibers. As opposed to the traditional approach of employing propylene generated from fossil fuels, it is made using sustainable feedstocks like biomass or agricultural waste. The desire for eco-friendly and sustainable materials in several sectors is fuelling expansion in the worldwide bio-based acrylonitrile market. Recent years have seen a considerable increase in interest in the market for bio-based acrylonitrile as businesses and consumers work to lessen their environmental effects. Traditional acrylonitrile manufacturing, which mainly relies on petrochemical feedstocks, is linked to greenhouse gas emissions and finite resource availability issues. By exploiting renewable feedstocks, bio-based acrylonitrile provides a more environmentally friendly option by lowering carbon emissions and reliance on fossil fuels. The rising customer desire for environmentally friendly and sustainable goods is one of the main factors driving the market for bio-based acrylonitrile. Consumers are looking for goods that have a smaller carbon impact and are made from renewable resources as knowledge of environmental concerns rises. Because it is produced using renewable feedstocks, bio-based acrylonitrile fits with this inclination and is a desirable option for businesses looking for environmentally friendly solutions. For widespread acceptance, the market for acrylonitrile made from bio-based materials must overcome several obstacles. Getting conventional acrylonitrile to be cost-competitive is one of the main obstacles. To compete with the economies of scale attained by the petrochemical sector, the cost of producing bio-based acrylonitrile, including feedstock sourcing and conversion processes, must be improved. Production expansion and process simplification initiatives can save costs and boost cost competitiveness.

Global Bio-Based Acrylonitrile Market Drivers:

Sustainability and Environmental Awareness Drive Demand for Bio-Based Acrylonitrile as Petrochemical Alternatives:

Traditional acrylonitrile, which is mostly sourced from petrochemical feedstocks, can be replaced with bio-based acrylonitrile as a more environmentally friendly option. The demand for bio-based goods, particularly bio-based acrylonitrile, is driven by people's increased knowledge of and concern for environmental sustainability. Environmentally minded customers and businesses are drawn to it because of its renewable feedstock sources and small carbon footprint. Governments all around the globe are putting legislation and policies in place to encourage the use of products made from bio-based materials and lessen dependency on fossil fuels. The use of bio-based products, particularly bio-based acrylonitrile, is encouraged by incentives including tax breaks, grants, and subsidies. These regulations foster market expansion and a favorable regulatory environment. The price of conventional acrylonitrile manufacturing is impacted by changing the pricing of petrochemical feedstocks like propylene. The sensitivity to price fluctuation in the petrochemical industry is decreased by the availability of more stable and possibly cost-effective alternatives, such as bio-based acrylonitrile. The need for bio-based acrylonitrile is driven by its capacity to provide price stability and lessen reliance on petrochemical feedstocks.

Technological Advancements and Collaborations Fuel Market Growth for Bio-Based Acrylonitrile:

Consumer desire for environmentally friendly and sustainably produced goods is rising across all industries. Because it is made from sustainable resources, bio-based acrylonitrile fits with this choice. Sustainable materials are being used more and more in sectors including electronics, textiles, automotive, packaging, and packaging, which is driving up the need for bio-based acrylonitrile. Technology has advanced as a result of ongoing research and development activities in the synthesis of bio-based acrylonitrile. The efficiency and cost-effectiveness of producing bio-based acrylonitrile have increased thanks to advances in biotechnology, fermentation techniques, and catalysis, making it a more attractive choice for commercial application. The market is driven by technological developments because they increase manufacturing capacity and reduce prices. The development and marketing of bio-based acrylonitrile are facilitated by cooperation and collaborations among important participants in the chemical industry, such as significant chemical producers, bio-based chemical firms, and research organizations. These partnerships foster innovation, information exchange, and resource pooling, which quicken market expansion.

Global Bio-Based Acrylonitrile Market Challenges:

When compared to conventional acrylonitrile obtained from petrochemical feedstocks, bio-based acrylonitrile manufacturing techniques, particularly those based on renewable feedstocks, may confront difficulties in terms of cost competitiveness. For bio-based acrylonitrile to be widely used, cost parity or advantage must be attained. Although there have been improvements made in the development of bio-based acrylonitrile manufacturing methods, commercializing these techniques can be difficult. Large-scale manufacturing calls for constant and effective production, process optimization, and technological hurdle-climbing. To guarantee continuous production, it is necessary to establish the sourcing and reliable supply of renewable feedstocks, such as sugars, lignocellulosic biomass, or plant oils. Fermentation, catalysis, and chemical transformations are some of the complicated and multi-step processes used in the synthesis of bio-based acrylonitrile. Additionally, the market for bio-based acrylonitrile is governed by laws that control the disposal of waste, the use of renewable feedstocks, and safety regulations. When working with unique manufacturing methods and feedstocks, it might be difficult to comply with rules and secure the appropriate certifications. Despite the rising need for environmentally friendly products, there may still be some market acceptability and ignorance about bio-based acrylonitrile.

Global Bio-Based Acrylonitrile Market Opportunities:

Sustainable and environmentally friendly materials are increasingly in demand across a range of sectors. Traditional acrylonitrile can be replaced by bio-based acrylonitrile, which is produced using renewable resources. The market for bio-based acrylonitrile has a substantial chance to increase its market share as a result of the trend toward environmentally friendly activities and goods. Globally, governments are putting laws and rules into place to encourage the use of bio-based products and lessen dependency on fossil fuels. Government assistance fosters an atmosphere that is conducive to the growth and investment of bio-based acrylonitrile enterprises. Production of bio-based acrylonitrile is becoming more effective and economical due to ongoing developments in biotechnology, fermentation techniques, and catalysis. Research & development activities are concentrated on improving feedstock consumption, streamlining production processes, and creating cutting-edge conversion technologies. Collaborations and mergers between businesses involved in the production of bio-based acrylonitrile, chemical producers, academic institutions, and end-user sectors can spur innovation and quicken market expansion.

COVID-19 Impact on Global Bio-Based Acrylonitrile Market:

This setback may have affected logistics, transportation, and raw material availability, which would have had an influence on the manufacturing and distribution of bio-based acrylonitrile as a whole. The reduced economic activity brought on by the pandemic and associated lockdowns had an impact on the market for numerous chemical goods. The demand for acrylonitrile-based goods fell, particularly in sectors that are big users, such as the automotive, textile, and construction industries. This decline in demand may have had an impact on the market for acrylonitrile made from biomaterials. The pandemic changed the emphasis of research and development efforts by highlighting the value of healthcare and basic goods. Some businesses could have switched their focus from creating goods and solutions to fend off the virus or deal with urgent health and safety issues.

Global Bio-Based Acrylonitrile Market Recent Developments:

In January 2022, a cooperation was formed by the top biotechnology firm Novozymes and the largest agricultural business in the world, Cargill, to create and market a bio-based acrylonitrile synthesis method utilizing renewable feedstocks. The partnership aims to meet the rising need for environmentally friendly acrylonitrile and lessen dependency on fossil fuel-based production techniques.

• In March 2023, an innovative fermentation-based approach was successfully used by Genomatica, a bioengineering firm, to produce sustainable bio-based acrylonitrile. By showing the manufacturing of bio-based acrylonitrile at a pilot scale, the business demonstrated the potential for a more cost-effective and environmentally friendly substitute for conventional acrylonitrile.
• In June 2021, a significant chemical corporation named Braskem disclosed plans to invest in the development of a new bio-based acrylonitrile manufacturing facility. The factory, which would be situated in Brazil, would make use of renewable feedstocks and support Braskem's commitment to environmentally friendly chemistry. The initiative was designed to strengthen the organization's standing as a pioneer in bio-based chemicals.

BIO-BASED ACRYLONITRILE MARKET REPORT COVERAGE:

Global Bio-Based Acrylonitrile Market Segmentation: By Type

• Fermentation-based bio-based acrylonitrile

• Direct synthesis-based bio-based acrylonitrile

A form of bio-based acrylonitrile called fermentation-based bio-based acrylonitrile is made by fermenting renewable feedstocks like sugars or lignocellulosic biomass. Enzymatically, the feedstock is turned into intermediates such as 3-hydroxypropionic acid (3-HP) or acrylic acid, which are then chemically changed into bio-based acrylonitrile. A sustainable and renewable alternative to acrylonitrile made from petroleum is bio-based acrylonitrile produced by fermentation. One kind of bio-based acrylonitrile generated utilizing direct synthesis and renewable feedstocks is direct synthesis-based acrylonitrile. It entails the catalytic production of acrylonitrile from renewable resources like biomass or plant oils. With this process, bio-based acrylonitrile is intended to be produced directly without the need for any intermediary stages, such as fermentation. An innovative strategy with potential advantages in terms of process efficiency and feedstock flexibility is direct synthesis-based bio-based acrylonitrile.

Global Bio-Based Acrylonitrile Market Segmentation: By Application

• Acrylic Fibers

• ABS Resins

• Carbon Fiber

• Water Treatment Chemicals

• Adhesives and Sealants

• Superabsorbent Polymers (SAP)

Acryliconitrile made from biomaterials is a crucial raw ingredient in the creation of acrylic fibers. Due to their softness, warmth, and durability, acrylic fibers are frequently used in textiles and garments, including sweaters, socks, athletics, and upholstery. ABS resins are a kind of thermoplastic that is widely utilized in many sectors, including the automotive, electronics, and consumer products industries. Traditional ABS may be replaced with bio-based ABS resins thanks to the usage of bio-based acrylonitrile in the manufacturing process. Carbon fibers, which have outstanding strength-to-weight ratios and find usage in the aerospace, automotive, and sporting goods industries, are produced using bio-based acrylonitrile as a precursor. Polyacrylamide and polyacrylates, which are employed in the flocculation, coagulation, and adsorption processes in wastewater treatment and purification, are produced using bio-based acrylonitrile. For a variety of applications, including those in the construction, automotive, packaging, and electronics sectors, bio-based acrylonitrile can be utilized in the formulation of adhesives and sealants. SAPs, which are extremely absorbent materials used in personal care goods, agricultural, and medical applications, including diapers, adult incontinence products, and wound dressings, may be made using bio-based acrylonitrile.

Global Bio-Based Acrylonitrile Market Segmentation: By End-User

• Textiles and Apparel

• Automotive

• Packaging

• Electronics

• Adhesives and Sealants

Producing synthetic fibers like acrylic fibers, which are used in textiles and clothing, requires the utilization of bio-based acrylonitrile. These fibers, which are used in apparel, upholstery, carpets, and other textile items, are renowned for their softness, warmth, and durability. Bio-based acrylonitrile is used in a variety of automotive parts and materials. It is utilized to create lightweight composites, coatings, adhesives, and sealants that increase performance overall and improve fuel economy and emissions reduction. Films, coatings, and laminates are all produced using bio-based acrylonitrile as a raw material. These materials are appropriate for food packaging, beverage containers, and other packaging applications because they have superior barrier qualities, heat resistance, and durability. Electrical parts, casings, connections, and insulating materials are all made in the electronics sector using bio-based acrylonitrile. The good electrical characteristics, flame resistance, and dimensional stability needed in electronic equipment and gadgets are all provided by bio-based acrylonitrile-based polymers. Adhesives and sealants, which have uses in a variety of sectors including construction, automotive, packaging, and electronics, are made using bio-based acrylonitrile. These sealants and adhesives have solid bonding capabilities and are more ecologically benign than their conventional petroleum-based competitors.

Global Bio-Based Acrylonitrile Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

In the region, which includes the US and Canada, there is an increasing focus on sustainability and lowering reliance on petrochemicals. The demand for bio-based acrylonitrile in North America is driven by the existence of significant market participants and supportive governmental regulations. Environmental concerns, government assistance, and the availability of a sophisticated chemical production infrastructure are what are driving the European market for bio-based acrylonitrile. The need is being driven by rapid urbanization, industrialisation, and a trend toward sustainable practices. Growing public awareness of environmental sustainability and government programs also helps the business expand. Due to their abundant agricultural resources and increased emphasis on sustainable development, countries in South America including Brazil and Argentina are seeing an increase in demand for bio-based products. Key factors in this region include the availability of feedstock and the development of environmental consciousness. Comparatively speaking to other locations, the Middle East and Africa may have a lesser market for bio-based acrylonitrile. However, rising government efforts and investments in sustainable chemicals and renewable resources also contribute to the market expansion in this area.

Global Bio-Based Acrylonitrile Market Key Players:

1. Novozymes A/S

2. Corbion N.V.

3. Cargill Incorporated

4. Genomatica, Inc.

5. DSM N.V.

6. BASF SE

7. Evonik Industries AG

8. Braskem S.A.

9. LanzaTech Inc.

10. Anellotech, Inc.