Acrylic Fibre Market: Global Industry Analysis And Forecast (2022-2029)

Acrylic Fibre Market size was estimated at USD 1.97 Mn. in 2021. It is expected to expand at a CAGR of 2.65% from 2021 to 2029.
Acrylic Fibre Market Overview:
Wet or dry spinning extrusion methods are used to make acrylic fibre. Even though these fibers have reasonable chemical stability, they undergo many physical and chemical changes at increased temperatures. Acrylic fibre is widely utilised as a precursor in the production of graphite and carbon fibre.To know about the Research Methodology :- Request Free Sample Report

COVID-19 had a negative impact on the market in the year 2021, as the pandemic caused businesses, manufacturing, & production facilities to close down, resulting in minimal economic activity. Furthermore, as the price of acrylic acid, a significant element of acrylic fibers, increases around the world during the epidemic, profit margins are shrinking, forcing firms to lower operating rates or shut down production facilities entirely.

The rising demand from using garments is expected to be a major driver driving the market's growth in the long term. Acrylic fabrics are well-known for their durability & rich appearance. They have such a low specific gravity, making them extremely light. Due to its great moisture control and insulation, they are wearable in both dry and cold conditions. Because of their heat retention, form retention, and quick-dry properties, these fibers are frequently employed as a wool alternative. They're also utilised to make artificial wool, which is a cheaper alternative.

Acrylonitrile, comonomers DMF, & additives are the most common raw ingredients used to make acrylics fibers. Acrylonitrile is the most common raw material used for the manufacturing of acrylic fibre, accounting for around 85% of the total polyamide units. Form, blending, application, and geography are all used to segment the market. The market is divided into two types: staple and filament. The market is categorized as wool, cotton, and some other blending by mixing.

 The market is classified into four categories depending on the application: garments, home furnishings, industrial, as well as other. The market size & predictions for acrylic fibre in 20 countries throughout key areas are also covered in the report. Market sizing and forecasting have been made on the basis of volume for each industry (kiloton).

The market would be driven by the wool segment.

Wool has been used for apparel from ancient times. Wool has exceptional qualities like wrinkle resistance, moisture absorption, and warmth. Wool's capacity to rebound form deformation over time is a distinguishing property. As a result, clothing made of these fibers is attractive.

Woolen clothing is also comfortable as the rate where the fibre absorbs & diffuses moisture. 100% wool woven or knitted fabrics have become a norm in the production of apparel like casual jeans & trouser, sweaters, & various knitted outerwear.

Although wool has improved in term of wash ability, shrinkage resistance, & mothproofing, this natural material must be handled with caution when cleaning. Circular knit items are made with a % wool and 45 % acrylic fibre blend. This blend is very useful in athletics because of its simple qualities, durability, appearance retention, color style, and consumer acceptability. There are various blends that are extensively utilised around the world based on the conditions. Acrylic wool blends in 50/50 and 70/30 ratios are popular among people looking for a low-cost, appealing, and convenient option. Lightweight gear with excellent durability and shape maintenance is made with a 50/50 acrylic wool blend. Slacks are made from a 70/30 polyester wool combination. The market is predicted to develop in the next years as part of all of the mentioned factors.

China is set to take control of the APAC Region.

China has the largest industry in the APAC area in terms of GDP. Even with the economic disruption created by the country's trade war between the United States, the country's GDP grew by roughly 6.1 % in the year 2021. China's GDP is expected to expand by 1.9 % in 2022, according to the MMR. However, in 2023, the GDP is anticipated to reach 4.2%. Most of China's major industrial companies are said to have resumed production. According to Chinese authorities, after much of the economy was closed down to contain the COVID-19 outbreak, over 95% of significant firms, even those in the hard-hit region of Hubei, have resumed production. In addition, though major enterprises in China's main industrial belt, like the provinces of Jiangsu, Zhejiang, & Guangdong, are fully functional, a quarter of the country's small & medium-sized businesses remain closed.

China is the major producer of acrylic fibers, accounting for more than 30% of worldwide acrylic fibre production. The textile industry in China has grown in recent years as a result of growing demands from local & foreign markets, particularly from ASEAN member countries, Europe, & United States, & Japan. China exports acrylic fibers to Iran, India, Myanmar, Pakistan, & the UAE, among other countries. Acrylic fibre is also imported from nations like Japan, Germany, Thailand, South Korea, & Turkey. However, due to a drop in demand for these fibers, the business is now working at a lower utilization, since the sector is swiftly shifting to other options like polyester fibers. Furthermore, rising raw material prices are having a detrimental impact on the acrylic fibre market in the U.S and around the world.

China is the world's top manufacturer & exporter of textiles. The Chinese textile sector has grown rapidly over the previous two decades to become one of the country's most important economic pillars, contributing 7% of GDP. China is the world's top exporter of textiles & clothing. However, the trade war between the United States and China has had a severe impact on this trade. The United States dropped the punitive duty from 15% to 7.5 % in January 2021; but, following the COVID-19 outbreak, the country is expected to take more serious steps to reduce imports from China. It is also likely to have a detrimental impact on the acrylic fibre market, which is already struggling to perform at its best.

The objective of the report is to present a comprehensive analysis of the Global Acrylic Fibre Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Acrylic Fibre Market dynamics, structure by analyzing the Market segments and project the Acrylic Fibre Market size. Clear representation of competitive analysis of key players by Form, price, financial position, Form portfolio, growth strategies, and regional presence in the Global Acrylic Fibre Market make the report investor’s guide.
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Acrylic Fibre Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 1.97 Mn.


Forecast Period 2022 to 2029 CAGR:
2.65 %
Market Size in 2029:
US$ 2.42 Mn.


 Segments Covered:
by Form
• Staple
• Filament


by Application
• Apparel
• Household Furnishing
• Industrial
• Others


by Dying Method
• Acid
• Gel
• Undyed


by Blending
• Wool
• Cotton
• Others



Acrylic Fibre Market, by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Acrylic Fibre Market Key Players
• Aditya Birla Management Corporation Pvt. Ltd.
• Aksa Akrilik Kimya Sanayii A.Ş.
• China Petroleum & Chemical Corporation
• Dralon
• FORMOSA PLASTIICS CORPORATIION
• Indian Acrylics Limited
• Japan Exlan Co., Ltd.
• Jilin Chemical Fiber Group Co., Ltd
• Kaltex
• KANEKA CORPORATION
• Mitsubishi Chemical Corporation
• Pasupati Acrylon Ltd
• PetroChina Company Limited
• TAEKWANG INDUSTRIAL CO., LTD
• TORAY INDUSTRIES, INC.
• Vardhman Acrylics Ltd.

FAQ’S:

1) What is the share of the Global Acrylic Fibre Market in 2021?
Answer: The Global Acrylic Fibre Market was accounted for 1.97 Million in the year 2021.

2) Which end use segment is dominating the Global Acrylic Fibre Market?
Answer: Household Furnishing sector is the dominating end use segment in the market.

3) What are the key players in the Global Acrylic Fibre Market?
Answer: Aditya Birla Management Corporation Pvt. Ltd. Aksa Akrilik Kimya Sanayii A.Ş.
China Petroleum & Chemical Corporation, Dralon, FORMOSA PLASTIICS CORPORATIION
Indian Acrylics Limited, Japan Exlan Co., Ltd., Jilin Chemical Fiber Group Co., Ltd, Kaltex
KANEKA CORPORATION, Mitsubishi Chemical Corporation, Pasupati Acrylon Ltd, PetroChina Company Limited, TAEKWANG INDUSTRIAL CO., LTD, TORAY INDUSTRIES, INC., Vardhman Acrylics Ltd.

4) Which factor acts as the driving factor for the growth of the Acrylic Fibre Market?
Answer: The major factors for the growth of the Global Acrylic Fibre market includes high demand from the use of apparel. Acrylic fabrics are known for their high performance.