Overview - In 2024, China's acrylonitrile production capacity is projected to be 4.399 million tons, remaining stable compared to 2023, while production is expected to reach 3.113 million tons, reflecting a year-on-year growth of 6.56% [2] - The capacity utilization rate has been declining since 2020, with a forecasted recovery to 70.8% in 2024. The rapid expansion of domestic acrylonitrile supply is leading to an increase in industry supply, while demand in key downstream products such as ABS, acrylic fiber, and acrylamide remains weak. The apparent consumption of acrylonitrile in China is expected to be 2.946 million tons in 2024, with a growth rate of only 0.08%, indicating a potential oversupply situation [2] Market Policies - Recent policies in China aim to promote high-quality development in the petrochemical industry, including guidance on technological innovation and industrial upgrades for acrylonitrile companies. These policies support the industry's transition towards high-end and green development [7][9] Industry Chain - The acrylonitrile industry chain consists of upstream suppliers of raw materials such as propylene, liquid ammonia, and catalysts, the midstream production segment, and downstream applications including ABS, acrylic fiber, acrylamide, nitrile latex, nitrile rubber, polymer polyols, and carbon fiber [10][11] Consumption Structure - The consumption of acrylonitrile is primarily concentrated in three sectors: ABS, acrylic fiber, and acrylamide, with ABS accounting for the largest market share at 50%. The major consumption area for ABS is the electrical manufacturing industry, which is expected to represent over 70% of China's total ABS consumption in 2024, with household appliances being the largest segment [12]