Acrylic Fiber Market Size was valued at USD 4.25 Billion in 2023. The Acrylic Fiber industry is projected to grow from USD 4.41 Billion in 2024 to USD 5.68 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.22% during the forecast period (2024 - 2032). Increasing apparel industry needs, and sustainable acrylic fiber production using innovative technology are the key market drivers driving the market’s growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising apparel industry drives the market CAGR for acrylic fiber. The increased use of acrylic fibers in blended textiles and other fibers like Wool and cotton is likely to drive industry revenue growth. Blending increases the durability, endurance, and absorption of the finished fabric. Mixing Wool with acrylic fibers, for example, increases the flexibility and resilience of the finished product. Acrylic-blend Wool is stain-resistant and simple to clean. Acrylic fibers additionally soften and strengthen the yarn. As a result, the rising usage of acrylic fibers in mixed textiles is expected to influence the market's expansion throughout the projected timeframe. The increased integration rate of acrylic fiber in upholsteries for various pieces of furniture is expected to climb as people can purchase furnishings for their home items, hence supporting the Acrylic Fiber Industry.
Additionally, manufacturing capacity expansion is expected to help the worldwide market develop. The improvement in the resilience and craftsmanship of acrylic fibers will give enterprises more chances to target hitherto unexplored markets. Acrylic fibers are commonly utilized as a basic fabric in the furnishings and textile industries. The rising demand for furnishings and textiles is a significant driving force for the acrylic fiber industry. Because of the convenience of browsing items and the accessibility of goods, online shopping for furnishings and textiles is growing. This was pushed further by the Covid-19 epidemic, when stay-at-home lifestyle and social isolation became normal norms, resulting in a surge in e-commerce sales of furniture and textiles.
As with other sectors in 2020, the COVID-19 pandemic is expected to impact the growth of acrylic fiber manufacturing in multiple-use areas. Limits on movement and interruptions in supply chains are expected to take some time to recover from. In addition, the fear is expected to fade considerably in 2021 with the vaccine's introduction. The Post Covid scenario will ease the market restriction and allow businesses to resume operations, boosting the market further.
For instance, as per the India Brand Equity Foundation, online shopping in India is projected to account for 37% of the retail market by 2030, with furnishings and textiles accounting for 4% of the overall market in 2020. Greater demand for sustainable furnishings and flexible workplaces has increased industry expenditure. Therefore, it is anticipated that demand for Acrylic Fiber will increase throughout the projection period due to the rising apparel industry needs. Thus, driving the Acrylic Fiber market revenue.
2024: Toray Industries introduced ECO-NX, a new acrylic fiber with enhanced environmental sustainability. The fiber is designed to offer improved durability and softness while being produced using eco-friendly processes that reduce carbon footprint.
The Acrylic Fiber market segmentation, based on Form, includes Staple and Filament. The staple category dominated the market, accounting for 70% of the market share (USD 2.9 billion) in 2022. This is due to the rising use of staple forms of acrylic fiber across a wide range of end-use verticals. Because of their short length, staple fibers must be twisted together to form a long, continuous yarn which will boost overall market demand.
Figure 1: Acrylic Fiber Market, by Form, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Acrylic Fiber market segmentation, based on Blending, includes Wool, Cotton, and Others. The wool category generated the most income, about 47% (USD 1.9 billion) in 2022. Wool's capacity to rebound from distortion as time passes is an important quality. Thus, clothing manufactured from these fibers is appealing. According to the Textile Exchange organization, 1.03 million tons of woolen fiber were produced in 2021 and is expected to increase over the coming years.
The Acrylic Fiber market segmentation, based on End-Use, includes Apparel, Household Furnishing, and Industrial. The apparel category dominated the market, accounting for 54% of the market share (USD 2.21 billion) in 2022. This is largely owing to the wide range of applications for acrylic fiber in the apparel sector. Household furnishing is expected to grow steadily due to the industry's increasing demand for acrylic fiber during the projected timeframe.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Acrylic Fiber market accounts for the second-highest market share due to the huge textile sector and the widespread adoption of contemporary household furnishings, which provides market opportunities for acrylic fiber in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Acrylic Fiber Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Acrylic Fiber market is expected to grow and expand rapidly during the projected timeframe due to increasing demand from different industrial uses such as home furnishings, garments, and other manufacturing processes is likely to fuel market expansion further. Further, the German Acrylic Fiber market holds the largest market share, and the UK Acrylic Fiber market is anticipated to grow and expand steadily in the European region during the projected timeframe.
The Asia-Pacific Acrylic Fiber Market will dominate this market during the projected timeframe. This is due to the spike in urban families, innovative applications of these fibers, and the expanded retailing of clothes due to the rapid growth of the internet-based fashion sector. Moreover, China’s Acrylic Fiber market dominates the market share, and the Indian Acrylic Fiber market is expected to expand significantly in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Acrylic Fiber market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Acrylic Fiber industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Acrylic Fiber industry to benefit customers and capture untapped market share and revenue. The Acrylic Fiber industry has recently offered significant advantages to the apparel and furnishing industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Acrylic Fiber market, including Aksa Akrilik Kimya Sanayii A.Åž. (Aksa), JILIN QIFENG CHEMICAL FIBER CO.LTD, Thai Acrylic Fiber Co.Ltd.Kaltex, Indian Acrylics Limited, Pasupati Acrylon Limited, SINOPEC, Formosa Plastic Group, and Polymir, are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.
Thai Acrylic Fiber Co. Limited, an Aditya Birla Group's subsidiary, is one of the world's top five manufacturers of high-quality acrylic fiber. It constitutes one of the world's major acrylic fiber businesses. It was founded in 1987 and manufactures a wide variety of acrylics and specialty acrylic fibers for applications in end-use. Thai Acrylic Fiber Company became Bluesign's network provider in January 2021. In 2020, TAF underwent an extensive screening procedure by Bluesign, which included input stream administration, management of the environment, occupational health and safety, product oversight, and legal and ethical compliance.
Lydall, Inc. is a maker of designed specific goods for the thermal/acoustical & filtration/separation sectors. It creates and produces synthetic substances for a wide range of uses. The organization develops and manufactures engineered specialty papers, automobile thermal protection, acoustical obstructions, and healthcare filtration and biological processing elements. The fabricated products of the organization are marketed to original equipment manufacturers (OEM). Despite the COVID-19 epidemic, Lydall, a worldwide performance material firm that holds the old Interfaces Systems and Armstrong site in Volney, had a successful year in 2020, and the facility hoped to sustain that success in 2021.
March 2022: AKSA stated in March 2022 that it would boost its capacity to manufacture from 330 to 365 kilotons/year by building on two new manufacturing lines. The undertaking carries a USD 24 million investment scheduled to be completed in 15 months.
January 2021: Thai Acrylic Fiber Company became Bluesign's network provider in January 2021. In 2020, TAF underwent an extensive screening procedure by Bluesign, which included input stream administration, management of the environment, occupational health and safety, product oversight, and legal and ethical compliance.
January 2021: Despite the COVID-19 epidemic, Lydall, a worldwide performance material firm that holds the old Interfaces Systems and Armstrong site in Volney, had a successful year in 2020, and the facility hoped to sustain that success in 2021.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 4.25 Billion |
| Market Size 2024 | USD 4.41 Billion |
| Market Size 2032 | USD 5.68 Billion |
| Compound Annual Growth Rate (CAGR) | 3.22% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Form, Blending, End-Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Aksa Akrilik Kimya Sanayii A.Åž. (Aksa), JILIN QIFENG CHEMICAL FIBER CO.LTD, Thai Acrylic Fiber Co. Ltd., Kaltex, Indian Acrylics Limited, Pasupati Acrylon Limited, SINOPEC, Formosa Plastic Group, and Polymir |
| Key Market Opportunities | Sustainable acrylic fiber production using innovative technology |
| Key Market Dynamics | Increasing Apparel Industry Need. Home furnishings is creating new opportunities. |
Acrylic Fiber Market Highlights:
Frequently Asked Questions (FAQ) :
The Acrylic Fiber market size was valued at USD 4.25 Billion in 2023.
The Acrylic Fiber Market is projected to grow at a CAGR of 3.22% during the forecast period, 2024-2032.
Asia-Pacific region holds the largest share of the Acrylic Fiber Market.
The key players in the Acrylic Fiber Market are Aksa Akrilik Kimya Sanayii A.Åž. (Aksa), JILIN QIFENG CHEMICAL FIBER CO.LTD, Thai Acrylic Fiber Co. Ltd., Kaltex, Indian Acrylics Limited, Pasupati Acrylon Limited, SINOPEC, Formosa Plastic Group, and Polymer.
Staples dominated the Acrylic Fiber Market in 2023.
Wool had the largest share of the Acrylic Fiber Market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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