Acrylic Fiber Market Size
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
|CAGR:||> 2 %|
*Disclaimer: Major Players sorted in no particular order
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Acrylic Fiber Market Analysis
The acrylic fiber market size is estimated to reach over 1,260 kilotons by the end of this year, and the market is projected to register a CAGR of more than 2% during the forecast period.
The market was negatively impacted by COVID-19 in 2021, as the pandemic resulted in the slowdown of businesses, products, and manufacturing facilities, resulting in less economic activity. However, the market is excepted to recover during the forecasting period.
- Over the medium term, the major factor driving the growth of the market studied includes the high demand for the use of apparel.
- On the flip side, the availability of substitutes like polyester and stringent regulations worldwide on the production of acrylic fiber are expected to hinder the growth of the market.
- By form, the filament segment accounted for the largest market share, and it is expected to grow during the forecast period.
- Asia-Pacific dominated the acrylic fiber market due to high demand from the ASEAN countries and India.
Acrylic Fiber Industry Segmentation
Acrylic fibers are mainly synthetic fibers. The major raw materials used to manufacture acrylic fibers include acrylonitrile, comonomers DMF, and additives. Acrylonitrile is the major raw material used in the production of acrylic fiber, which is about 85% of the acrylonitrile units by weight. The market is segmented by form, blending, application, and geography. By form, the market is segmented into staple and filament. By blending, the market is segmented into wool, cotton, and other blendings (cellulose). By application, the market is segmented into apparel, household furnishing, industrial, and other applications (Upholstery). The report also covers the market size and forecasts for the market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton).
|Other Blendings (Cellulose)|
|Other Applications (Upholstery)|
Acrylic Fiber Market Trends
This section covers the major market trends shaping the Acrylic Fiber Market according to our research experts:
Wool Segment to Dominate the Market
- The use of wool for clothing ages back to ancient times. Wool has outstanding properties, such as resistance to wrinkles, moisture absorption, and warmth. A significant feature of wool is its ability to recover from deformation over time. Hence, clothing made from these fibers is attractive.
- Fabrics that are woven or knitted with 100% wool fiber have become a standard in making apparel, like sweaters, hoodies, boots, boot lining, hats, gloves, athletic wear, carpeting, blankets, roller brushes, upholstery, area rugs, protective clothing, wigs, hair extensions.
- The majority of Acrylic Fiber is used to make wool and acrylic blends which are very popular. These blends of 55% wool and 45% acrylic fiber are used to make circular knit goods. This blend is particularly used in making sportswear, which has characteristics like the ease of care, durability, appearance retention, color styling, and palatability.
- Depending on the requirements, there are different blends that are widely used across the world. The 50/50 and 70/30 acrylic wool blends are popular among those that are inexpensive, look good, and are easy to handle. The 50/50 acrylic wool blend is used to make lightweight apparel that has excellent durability and shape retention. The 70/30 acrylic wool blend is used to make slacks. According to TextileExchange.org, 1.03 million tonnes of wool fiber was produced in 2021.
- Hence, increasing demand for acrylic fiber in the wool segment is likely to dominate the market.
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China to Dominate the Asia-Pacific Region
- China is the largest producer of acrylic fibers across the world, accounting for a share of more than 30% of the global acrylic fiber production. Owing to the demand from domestic and international markets, primarily from ASEAN countries, Europe, the United States, and Japan, the textile industry in China has expanded over the years.
- Iran, India, Vietnam, Pakistan, and the United Arab Emirates are some of the largest markets where China exports acrylic fibers. The country also imports acrylic fiber from countries like Japan, Germany, Thailand, South Korea, and Turkey.
- In 2021, China's acrylic fiber import volumes totaled 75,000 tons, up 10.3% from 68,000 tons in 2020. The rise in 2021 was mainly attributed to the increase in March-May, up about 7,800 tons during the period. Increased demand from apparel and household furnishing applications may drive the market for acrylic fibers.
- China is the largest textile-producing and exporting country in the world, it holds about 43% share of the world's total textile exports in terms of value. Thus, the growth in China's clothing industry is anticipated to boost the market for acrylic fibers.
- Hence, all such market trends are expected to add to the demand for the acrylic fibers market in China during the forecast period.
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Acrylic Fiber Industry Overview
The acrylic fiber market is consolidated in nature. Some of the major players in the market include Aksa Akrilik Kimya Sanayii AŞ, Dralon, Jilin Chemical Fiber Group Co., Ltd., Aditya Birla Management Corporation Pvt. Ltd, and Sinopec, among others.
Acrylic Fiber Market Leaders
Aksa Akrilik Kimya Sanayii AŞ
Jilin Chemical Fiber Group Co., Ltd.
Aditya Birla Management Corporation Pvt. Ltd
*Disclaimer: Major Players sorted in no particular order
Acrylic Fiber Market News
- In March 2022, AKSA announced to increase its production capacity from 330 kilotons/year to 365 kilotons/year by investing in 2 new production lines. The project has a budget of USD 24 million and it is planned to be commissioned in 15 months.
- In January 2021, Thai Acrylic Fibre Co. Ltd (TAF), an Aditya Birla Group company, became Bluesign’s system partner. TAF has gone elaborate screening process by Bluesign in 2020, including input stream management, environment management, OHS, product stewardship, legal and social compliance, etc.
Acrylic Fiber Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 High Demand for Use in Apparels
4.1.2 Online Purchasing Drive the Demand for End Use Products
4.2.1 Availability of Substitutes, like Polyester
4.2.2 Stringent Regulations Worldwide on the Production of Acrylic Fiber
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.2.3 Other Blendings (Cellulose)
5.3.2 Household Furnishing
5.3.4 Other Applications (Upholstery)
220.127.116.11 South Korea
18.104.22.168 ASEAN Countries
22.214.171.124 Rest of Asia-Pacific
5.4.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.4.4 South America
220.127.116.11 Rest of South America
5.4.5 Middle-East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aditya Birla Management Corporation Pvt. Ltd
6.4.2 Aksa Akrilik Kimya Sanayii AŞ
6.4.3 China Petrochemical Corporation
6.4.5 FORMOSA PLASTIICS CORPORATIION
6.4.6 Goonvean Fibres
6.4.7 Indian Acrylics Limited
6.4.8 Japan Exlan Co. Ltd
6.4.9 Jiangsu Zhongxin Resources Group
6.4.10 Jilin Chemical Fiber Group Co. Ltd
6.4.12 KANEKA CORPORATION
6.4.13 Mitsubishi Chemical Corporation
6.4.14 Pasupati Acrylon Ltd
6.4.15 PetroChina Company Limited
6.4.16 Polyacryl Iran Corp.
6.4.19 SGL Carbon
6.4.20 Taekwang Industrial Co. Ltd
6.4.21 TORAY INDUSTRIES INC.
6.4.22 Vardhman Acrylics Ltd
6.4.23 Yousuf Dewan Companies
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Future Market for Acrylic Paper
Acrylic Fiber Market Research FAQs
What is the study period of this market?
The Acrylic Fiber Market market is studied from 2017 - 2027.
What is the growth rate of Acrylic Fiber Market?
The Acrylic Fiber Market is growing at a CAGR of >2% over the next 5 years.
Which region has highest growth rate in Acrylic Fiber Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Acrylic Fiber Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Acrylic Fiber Market?
Aksa Akrilik Kimya Sanayii AŞ, Jilin Chemical Fiber Group Co., Ltd., Dralon, Aditya Birla Management Corporation Pvt. Ltd , Sinopec are the major companies operating in Acrylic Fiber Market.
Acrylic Fiber Industry Report
Statistics for the 2023 Acrylic Fiber market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Acrylic Fiber analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.