A Quick Overview of Acrylic Fiber Market
The key object of this report on the Acrylic Fiber Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.
MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Acrylic Fiber Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.
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Acrylic Fiber Market Scenario:
The Global Acrylic Fiber Market size is estimated at around USD 2.65 billion in 2024 & is expected to grow at a CAGR of around 3.5% during the forecast period, i.e., 2024-30. The acrylic fiber industry is experiencing substantial growth & expansion driven by increasing demands within the textiles and apparel industries and the rising adoption of sustainable production methods utilizing innovative technology. The acrylic fiber offers better washability, UV resistance, and microbial attack resistance. Additionally, these fibers are available in various colors and provide resistance to shrinkage, unlike cotton and other natural fibers. According to the research conducted by academic institutes, the acrylic fibers shirk only 1.5% when treated with boiling water for 30 minutes. Owing to these unique attributes of the fibers, the top apparel companies are using acrylic fibers to make different clothing, fueling the Global Acrylic Fiber Market growth.
Acrylic Fiber Market - Industry Dynamics, Size, And Opportunity Forecast To 2030:
Market Driver - Flourishing Apparel Industry to Augment Market Growth
The apparel industry across the world is being fueled by various factors, such as fast fashion and fluctuating financial situations. The consumption of clothing in emerging economies has increased rapidly due to a surge in GDP growth, especially observed in developing countries like China and India, which are investing heavily in their markets. Government schemes for textile manufacturing, like production-linked incentives, have been implemented by nations including India, which help boost manufacturing capabilities.
In 2022, Chinese textile companies had an incredible increase in profits of 25.5%, while also breaking records with garment exports valued at USD 315 billion. Thus enhancing its potential market value even further. The global apparel sector shows continued positive incremental growth projections where levels will hit peak values exceeding the USD 2.9 trillion mark, expanding up to rates of around 3-8% annually in the coming years. Therefore, the growing apparel industry leads to a higher demand for acrylic fiber.
Acrylic Fiber Market Segmentation Analysis:
Acrylic Fiber Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:
By Form
- Continuous/Filament(Tow) Fiber- Market Size & Forecast 2019-2030, (Thousand Tons)
- Non-continuous/Staple Fiber- Market Size & Forecast 2019-2030, (Thousand Tons)
By Blend
- Acrylic-Wool- Market Size & Forecast 2019-2030, (Thousand Tons)
- Acrylic-Viscose- Market Size & Forecast 2019-2030, (Thousand Tons)
- Acrylic-Nylon- Market Size & Forecast 2019-2030, (Thousand Tons)
- Acrylic-Cotton- Market Size & Forecast 2019-2030, (Thousand Tons)
- Others (Cellulose, Rayon, etc.)- Market Size & Forecast 2019-2030, (Thousand Tons)
By End-Use Industry
- Textiles & Apparel- Market Size & Forecast 2019-2030, (Thousand Tons)
- Furniture & Upholstery- Market Size & Forecast 2019-2030, (Thousand Tons)
- Industrial- Market Size & Forecast 2019-2030, (Thousand Tons)
- Building & Construction- Market Size & Forecast 2019-2030, (Thousand Tons)
- Automotive- Market Size & Forecast 2019-2030, (Thousand Tons)
- Others- Market Size & Forecast 2019-2030, (Thousand Tons)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
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Who are the Key Market Players in the Acrylic Fiber Market?
In the fast-changing Acrylic Fiber Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Acrylic Fiber market ruling the industry are:
List of Key Companies Profiled:
- Reliance Industries Limited (RIL)
- Thai Acrylic Fiber Co. Ltd. (TAF)
- Aditya Birla Management Corporation Pvt. Ltd.
- Aksa Akrilik Kimya Sanayii AŞ
- China Petrochemical Corporation
- Dralon
- Formosa Plastics Corporation
- Goonvean Fibres
- Japan Exlan Co. Ltd.
- Jiangsu Zhongxin Resources Group
- Jilin Chemical Fiber Group Co. Ltd.
- Kaltex
- Mitsubishi Chemical Corporation
- Pasupati Acrylon Ltd.
- Polyacryl Iran Corp.
- Others.
Global Acrylic Fiber Recent Development:
- 2024: Reliance Industries Limited (RIL) announced the launch of Ecotherm, an acrylic fiber product that has completely transformed the textile industry, and offered a sneak peek at the Circular Design Challenge's (CDC) global growth. The distinguished "Reliance Sourcing Solutions Pavilion" at BharatTex 2024 is the site of this launch of innovative acrylic fiber.
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