Acrylic Fiber Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Form (Staple and Filament), Blending (Wool, Cotton, and Other Blendings), Application (Apparel, Household Furnishing, Industrial, and Other Applications), and Geography.

Market Snapshot

Market Summary - CNT Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

South America

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for acrylic fiber is expected to register a CAGR of 1.94% during the forecast period (2019-2024). The demand in blending applications and weak supply of substitutes, like wool and cotton, are the major factors driving the growth of the market studied. On the flipside, availability of cheaper substitutes, like polyester, is expected to hinder the market growth.

  • By form, the filament segment accounted for the largest market share in 2018, and is expected to grow during the forecast period.
  • Untapped potential in South Asia is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the global acrylic fiber market in 2018, due to high demand from the ASEAN countries and India.

Scope of the Report

The acrylic fiber market report includes:

Form
Staple
Filament
Blending
Wool
Cotton
Other Blendings
Application
Apparel
Household Furnishing
Industrial
Other Applications (Outdoor)
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Russia
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Demand in Blending Applications

  • Acrylic fibers, when blended with other materials, help enhance the physical and chemical characteristics of the end product. For example, cotton-blended yarns and fabrics provide superior comfort, elasticity, warmth, enhanced luster, high uniformity, and have a soft feel to them. Furthermore, the stretch from the acrylic makes the yarn soft and easier to work with. Cotton and acrylics are generally blended in the proportions of 75/25, 60/40, or 50/50.
  • Wool is another material that is blended with acrylics from time to time, as the resultant end product is always lightweight, possesses good resilience and elasticity.
  • Demand for blended fabrics is increasing steadily, owing to its economical nature, when compared to pure materials, along with the added factor of value addition provided by the various blending materials.
  • China, Turkey, and India are few of the countries that have acquired significant shares in the blended yarn segment. Turkey, which has one of the largest textile markets in the world, produces around 1 million metric ton of cotton yarn annually. In India, though the production of blended yarn declined for the first time, in 2017, in the past five years, the demand is still stable, which is expected to recover the production in the upcoming years.
  • Such attributes are expected to drive the market for acrylic fibers in the blending application, throughout the forecast period.
Market Segmentation - CNT Market

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share in 2018. 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 rising demand from domestic and international markets, primarily from ASEAN countries, Europe, the United States, and Japan, the textile industry in China is expanding at a healthy rate. This is one of the key factors boosting the demand for acrylic fibers in the region.
  • The Indian textile industry is estimated to register a CAGR of 8.2% during the forecast period. The Government of India has announced to invest INR 690 crore (USD 106.58 million) for setting up 21 readymade garment manufacturing units, for the development and modernization of the Indian textile sector.
  • The macro-economic condition of ASEAN countries is likely to project strong growth in the coming years. The region bounced back strongly in 2016, as the growth surpassed the past six-year’s record, owing to the fair boost in the economies of Malaysia, Singapore, and Vietnam, and the growth has further increased from then. The recent uptick in commodity prices has turned a favorable atmosphere for the regional exports.
  • The textile and apparel industry is one of the major markets for acrylic fibers. The increasing investments in the Indonesian and Indian textile and apparel sectors are likely to boost the demand for acrylic fiber, in the manufacture of various apparels and household furnishing. This, coupled with plans of the textile industries in these countries to make agreements with the European Union, is likely to have a positive impact on the demand for acrylic fiber.
Regional - CNT Market

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Competitive Landscape

The acrylic fiber market is consolidated among the top five players, as they account for almost 50% of the market. Some of the major players of the market studied include Formosa Plastics, Toray, Aditya Birla, Dralon, and Aksa.

Major Players

  1. Aksa Akrilik Kimya Sanayii AŞ
  2. Aditya Birla Management Corporation Pvt Ltd
  3. Dralon
  4. Formosa Plastics Corporation
  5. China Petrochemical Corporation

* Complete list of players covered available in the table of contents below

Market Concentration - CNT Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Demand in Blending Applications

      2. 4.1.2 High Demand for Use in Apparels

    2. 4.2 Restraints

      1. 4.2.1 Availability of Substitutes, like Polyester

      2. 4.2.2 Stringent Regulations Worldwide on the Production of Acrylic Fiber

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

      1. 4.5.1 Production Process

  5. 5. MARKET SEGMENTATION

    1. 5.1 Form

      1. 5.1.1 Staple

      2. 5.1.2 Filament

    2. 5.2 Blending

      1. 5.2.1 Wool

      2. 5.2.2 Cotton

      3. 5.2.3 Other Blendings

    3. 5.3 Application

      1. 5.3.1 Apparel

      2. 5.3.2 Household Furnishing

      3. 5.3.3 Industrial

      4. 5.3.4 Other Applications (Outdoor)

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

        4. 5.4.2.4 Rest of North America

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Russia

        6. 5.4.3.6 Spain

        7. 5.4.3.7 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aditya Birla Management Corporation Pvt Ltd

      2. 6.4.2 Aksa Akrilik Kimya Sanayii AS

      3. 6.4.3 Dralon

      4. 6.4.4 Jilin Chemical Fiber Group Co. Ltd

      5. 6.4.5 Montefibre SpA

      6. 6.4.6 SINOPEC Shanghai Petrochemical Co. Ltd

      7. 6.4.7 CNPC

      8. 6.4.8 DOLAN GmbH

      9. 6.4.9 Exlan Japan Co. Ltd

      10. 6.4.10 Formosa Plastics Group

      11. 6.4.11 Grupo Kaltex SA de CV

      12. 6.4.12 Indian Acrylics Limited

      13. 6.4.13 Kaneka Corporation

      14. 6.4.14 Mitsubishi Chemical Corporation

      15. 6.4.15 Pasupati Acrylon Ltd

      16. 6.4.16 TAEKWANG INDUSTRIAL CO. LTD

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Acrylonitrile Production

**Subject to Availability

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