Acrylic Fiber Market – Growing Demand From China Owing To Attractive Characteristics Is Driving A Large Volume

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Acrylic Fiber Research Report.

Market Synopsis:

Acrylic fibers are synthetic fibers made of polyacrylonitrile and are durable and warm, generally used for sweaters, as linings for boots and gloves, and in furnishing fabrics and carpets. The global acrylic fiber market is expected to witness significant growth by 2032 with a CAGR of 3.7 % during the review period of 2023 and 2032.

Market Dynamics:

Attractive Characteristics And Growing Adoption Is Expected To Drive A Large Demand

Acrylic fiber resembles wool in character and has other advantages over wool such as good drying capacity, high moisture management, resistance to moths, resistance to chemical substances, excellent resiliency, and others. These characteristics make it ideal for the end uses such as faux fur, wigs, hair extensions, and protective clothing. Acrylic fiber is widely used in sweaters and as linings for boots and gloves, and in furnishing fabrics and carpets. Acrylic fibers are very resilient compared to other synthetic and natural fibers. They are also used as a cheap alternative to cashmere, due to the similar feeling of the materials. Acrylic fibers can be dyed and take colors easily, are washable, and is hypoallergenic.

Low Price And Blending Is Driving Faster Application Expanse

Being a synthetic fiber, acrylic yarn is cheaper and typically priced lower than its natural-fiber counterpart’s price. Being machine washable makes them useful for garments for babies, which require constant washing. Certain drawbacks of acrylic fibers such as softness and synthetic feel can be reduced by blending them with natural fibers. The factors such as growing demand for apparel changing demographics, and modern trends in household furnishing is expected to charge the market growth.

Large Production Capacity, Market Fragmentation, And Flammability Are The Restraints On The Market

Acrylic fibers are flammable than its natural fiber counterparts, which is its chief drawback. The sizeable idle production capacity and market fragmentation have put pricing pressure. The fluctuation in raw material prices has also negatively affected the profit margin. Growing environmental concerns especially the volatile organic compounds has hampered the market growth.

Regional Analysis

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Asia Pacific region is the largest market of acrylic fiber owing to growing demand and growing number of acrylic fiber manufacturers. The apparel industry has traditionally dominated China, Indonesia, Japan, and India. China dominates the market with more than 50 % market share. However, despite its massive production capacity, China has to depend on imports for more than 15 % of its demand. Asia Pacific accounts for a market share of 50 %, which is forecast to grow at the fastest CAGR of 1.61% from 2016 to 2022

Middle East & Africa accounts for the second largest market owing to the presence of acrylonitrile raw material producers. The Middle East and Africa market are dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar. North America led by U.S. and Europe led by Germany, France, and the U.K. are other leading markets.

Segmentation:

The global acrylic fiber market is majorly segmented based on form, blending, end use and region.

Based on form, global acrylic fiber market is segmented into staple and filament.

Based on blending, acrylic fiber market is segmented into wool, cotton, and others.

Based on end use, acrylic fiber is segmented into apparel, household furnishing, industrial and others.

Based on region market is divided into North America, Europe, APAC, Latin America, Middle East & Africa.

Dominant Players:

Some of the major players of the global acrylic fiber market are AKSA Akrilik Kimya Sanayii A.S, Dralon, JILIN QIFENG CHEMICAL FIBER CO., LTD, Thai Acrylic Fiber Co. Ltd, Kaltex, Indian Acrylics Limited and Pasupati Acrylon Limited and others.

Read Full Information about this Report: Acrylic Fiber Industry