The report on Acrylic Fiber Market provides an in-depth analysis of the industry. Key highlights of the report include the market size and the growth rate. Insights of the report covers the drivers, restraints, challenges & opportunities for Acrylic Fiber market growth. A detailed PESTEL analysis is also included in the report. The report covers a thorough regional analysis of the Acrylic Fiber industry at local, regional and global level. Segment wise market share estimation & Industry potential is also covered.
Based on an average growth pattern, the acrylic fiber market is estimated to increase at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2034, when it is expected to reach USD 7,724.53 million. In 2024, the market is projected to be worth USD 5,857.36 million. Acryliconitrile, a petrochemical generated from crude oil, is the main ingredient used to make acrylic fiber, a type of synthetic fiber. It is renowned for feeling woolly, being lightweight, resilient to a variety of chemicals, and resistant to environmental factors. Acrylic fibers are widely used in the textile industry for many industrial applications as well as apparel and home furnishings.
The industry that produces, distributes, and uses acrylic fibers is covered by the worldwide acrylic fiber market. Acrylic fibers are artificial fibers derived from copolymers such as polyacrylonitrile. These fibers are renowned for feeling woolly, being lightweight, resilient to chemicals, oil, and moths, and able to hold onto color. They are extensively utilized in a variety of industrial applications, home furniture, and the textile and clothing industries.
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Acrylic Fiber Market Trends
The market CAGR for acrylic fiber is driven by the expanding apparel industry. The expansion in industry revenue is expected to be driven by the increasing usage of acrylic fibers in blended textiles along with other fibers like cotton and wool. Blending improves the final fabric's absorption, endurance, and durability. For example, adding acrylic fibers to wool boosts the final product's toughness and flexibility. Blend of acrylic Wool is easy to clean and stain-resistant. The yarn is further strengthened and softened by the acrylic fibers. Therefore, it is anticipated that the growing use of acrylic fibers in blended fabrics will have an impact on the market's growth over the estimated period of time. It is anticipated that the rate of integration of acrylic fiber in upholstery for different types of furniture will increase.
Acrylic Fibers Market Scope Of the Report
This study provides estimates and data for the acrylic fibers market for the past, present, and future. An extensive research approach was used to establish the market estimates that are presented in the study. Multiple research channels are used in the adopted research approach, including primary, secondary, and subject-related expert input. The market estimations are determined by taking into account the many economic, social, and political aspects that impact the acrylic fibers market in addition to the current market dynamics. The market data is also defined by different laws, government expenditure, and the expansion of research and development. The market projections take into account both favorable and unfavorable changes to the market.
Top companies in the Acrylic Fiber Market are,
The Acrylic fiber Market is dominated by a few large companies, such as
Aksa Akrilik Kimya Sanayii A.Ş. (Turkey)
Dralon GmbH (Germany)
Taekwang Industrial Co., Ltd. (South Korea)
Indian Acrylics Limited (India)
Aditya Birla Group (India)
Kaneka Corporation (Japan)
Formosa Plastics Corporation (Taiwan)
Jilin Chemical Fiber Group Co., Ltd. (China)
Vardhman Acrylics Limited (India)
Toray Industries, Inc. (Japan)
Other
The leading companies of the Acrylic Fiber industry, their market share, product portfolio, company profiles are covered in this report. Key market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Acrylic Fiber players will help the industry aspirants in planning their strategies. The statistics presented in this report are an accurate and useful guide to shaping your business growth.
Market Segments
By Type
Staple Fibers
Tow Dyed Fibers
By Application
Apparel
Home Textiles
Nonwoven Fabrics
Industrial & Technical Textile
Carpet & Rugs
Outdoor & Recreational Products
Upholstery
Blankets & Bedding
Craft & Hobby
Others
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Acrylic Fiber Industry: Regional Analysis
Forecast for the Asia-Pacific Market
With a market share of more than 50%, Asia Pacific leads the world in revenue generation for acrylic fiber. Because it is home to important manufacturing hubs like China, India, and South Korea, the Asia Pacific region holds a dominant market share in the acrylic fiber industry. These nations' sizable textile industry significantly increase demand for acrylic fiber. The textile and garment industries have expanded as a result of the region's expanding population and growing disposable income, which has increased demand for acrylic fiber.
Market Statistics for Europe
Europe is a major player in the acrylic fiber market as well, with major producers and consumers including Germany, Italy, and Turkey. In Europe, acrylic fiber is widely used for both non-apparel and apparel purposes.
Forecasts for the North American Market
There is a substantial market for acrylic fiber in North America, especially in the United States. The area enjoys the benefits of a robust textile sector, with acrylic fiber being used in clothing, home furnishings, and industrial textiles, among other segments.
Market Data for the Middle East and Africa
The market for acrylic fiber is expanding in the MEA area as a result of rising urbanization and industrialization. In the regional acrylic fiber market, nations including South Africa, Egypt, and Turkey are becoming more significant competitors. These nations' textile industries are growing thanks to supportive trade policies, international investments, and government initiatives.
Conclusions:-
Market Size and Growth:The global acrylic fiber market has been experiencing steady growth. This growth is driven by the increasing demand for acrylic fibers in various end-use industries such as textiles, home furnishings, and industrial applications. The market's growth trajectory is expected to continue due to its properties like softness, lightweight, and high resistance to sunlight and chemicals.
Regional Insights:Asia-Pacific: This region holds the largest share of the acrylic fiber market due to the high demand from countries like China, India, and Japan. The booming textile industry in these countries is a major growth driver.
