Acrylic Fibre Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Acrylic Fibre Market grew at a CAGR of 4.1% between 2017-2021 and is estimated to be US$ 4,633.7 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.5% and is expected to reach a valuation of US$ 7,196.0 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to the growing use of acrylic fibers in a wide range of products, such as apparel, home furnishing and industrial clothing, which is expected to provide a strong growth opportunity during the forecast period.
THE RISE IN DEMAND FOR FASHION AND GLOBAL APPAREL DRIVES THE MARKET FOR ACRYLIC FIBER MARKET
Demand for clothing and apparel has seen a tremendous rise in the last few years, with a change in the financial landscape and the introduction of fast fashion as some of the primary catalysts for the market. Clothing item consumption in developing countries is especially picking up the pace due to a rapid increase in their GDP. China and India are projected to be the fastest-growing countries in the industry as they invest heavily in the market.
THE AVAILABILITY OF SUBSTITUTES WILL HAMPER THE MARKET GROWTH
As such, there are many different types of substitutes for acrylic fiber during the forecast period. For instance, some commonly used synthetic fibers are polyester, polyamide, and polypropylene. Polyester fibers are the most widely used synthetic fiber in the world, primarily due to their durability, lightweight form factor, and strong fastness to dyes.
THE RISE IN E-COMMERCE WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
The increase in demand for the furniture & upholstery market drives the acrylic fiber market. The e-commerce space for furniture & upholstery has steadily risen due to the ease of viewing products and availability. The Covid-19 pandemic further bolstered this as stay-at-home culture, and social distancing became common norms. This led to an increase in sales of furniture and upholstery online.
The global acrylic fiber market is projected to grow in the forecast period of 2022-2027. Many industries had suffered a tumultuous time, and it was no different for this market.
During the COVID-19 pandemic, many businesses & production facilities came to a halt. As such, the fiber industry has been experiencing a challenging environment. The trend is expected to continue in the coming years as more production facilities reopen and the economy recovers.
Market Segments Covered in Report
By Fiber Form:
By Dyeing Method:
By End Use:
By Region and Country:
Why is Acrylic Staple Fibre projected to ensure the most revenue during the forecast period?
Acrylic Staple Fibre had 55.0% of the market share and had the highest revenue share in this group of products. This can be attributed to the rising usage of stable acrylic fiber forms across end-use verticals. A non-continuous, rather short-length fiber is a staple fiber. Due to their limited length, staple fibers must be twisted together to create a long, continuous yarn. To create threads with a natural feel, synthetic fibers can be used alone or chopped into similar short lengths and mixed with natural staple fibers.
Why has Gel Dyeing will become the fastest-growing segment?
Gel dyeing is a continuous tow dyeing technique in which soluble colors are applied to wet-spun synthetic fibers. At the same time, they are in gel condition, such as acrylic or modacrylic fibers. The gel dyeing method has great environmental benefits compared to traditional processes and is therefore preferred by manufacturers.
Why is the textile & apparel industry segment expected to expand the fastest during the forecast period?
In 2021, The global textile and apparel industry will continue to grow. The acrylic fiber market holds the largest share, as it helps make up a large portion of the textile industry. It is manufactured as a filament, cut into short staple lengths, and spun into yarn. Acrylic fibers are resistant to moths, oils, and chemicals and provide a soft and warm feel while also being lightweight. It also has excellent wicking ability, which lets the acrylic fiber fabric absorb moisture from sweating and transfer it to the outer surface where it is evaporated.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The industry is expected to continue growing in developing countries. Several major players have entered emerging regions, with more investments, mergers, and acquisitions anticipated. R&D investments are seen as a significant source of future growth opportunities.
Some of the key developments that have taken place in the Acrylic Fibre Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Fibre Form, Dyeing method, Blending, End-use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.5%.
The recent recognition of the beneficial use of acrylic f in blending with other materials has generated a significant demand. They can take multi-color dyes in clear, brilliant, and subdued tones.
Major global Acrylic Fibre Market players are Aksa Akrilik Kimya Sanayii A., Dralon, Aditya Birla Group, Jilin Chemical Fiber Company, TAEKWANG INDUSTRIAL CO., LTD, Exlan Japan Co., Ltd., Kaneka Corporation, Indian Acrylics Limited, Pasupati Acrylon Ltd., Vardhman Acrylics Ltd
Over the next ten years, it’s anticipated that factors including a rapidly expanding population, changing lifestyles, rising disposable money, and a thriving fashion sector would indirectly affect the expansion of acrylic fiber.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Acrylic Fibre market.
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