The bio-based acrylonitrile market is growing due to rising environmental concerns, regulatory changes, and increasing demand for sustainable materials. The market is expected to grow at a CAGR of 8.1% from 2024 to 2034 and reach $381.9 million by 2034. Key drivers of growth include:
* Rising demand for sustainable alternatives
* Government and regulatory support
* Expanding applications in key industries such as automotive, electronics, and textiles
* Advancements in bio-refining technologies
* Consumer awareness and corporate sustainability goals
Recent trends include increased R&D investment, collaborations between companies, and the integration of bio-based acrylonitrile in lightweight materials. The use of bio-based acrylonitrile in composites and lightweight materials for automotive and aerospace applications is also gaining momentum.
Top companies in the market include AnQore, Solvay, Asahi Kasei Corporation, and Trinseo. The market is expected to grow due to global sustainability initiatives and advancements in bio-refinery technologies. The report provides insights and analysis of the market, including segmentation by type (fermentation-based and direct synthesis-based) and application (fibers, resins, water treatment, adhesive production, and others).