Acrylic Fiber Market - Segmented by Dimension, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
Acrylic Fiber Market - Segmented by Dimension, Application, and Geography - Growth, Trends, and Forecast (2019 - 2024)

PUBLISHED

NOV 2018

Acrylic Fiber Market - Segmented by Dimension, Application, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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The global acrylic fiber market was valued at USD 4,929.43, in terms of revenue, in 2017. The market studied is anticipated to reach a value of USD 5,903.91 million by 2023, at estimated CAGR of about 1.94% over the forecast period of 2018-2023. The demand for blending applications coupled with 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.

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 also 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. 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 bending materials.

Apparel – A Huge Market Potential

Acrylic fibers are produced from acrylonitrile, which is usually combined with small amounts of other petrochemicals, to enhance the ability of the subsequent fiber for dye absorption. They are known for their wicking ability and dye absorption, which are the main reasons for fabric designers to opt for acrylic fibers. These fibers are extensively used as a substitute for wool, due to their heat retention, shape retention, and quick dry qualities. They are also used for manufacturing synthetic cotton, which is comparatively less. They are used for making comfortable clothing that have good moisture management, such as outerwear pile fabrics, thermal wear, wool cloths, fabrics, sports clothing, children’s clothing socks, tights, sweaters, and sleepwear. Although there is a decline in production, by about 30% globally, when compared to 2004, the weak supplies of wool and cotton, along with the continuing technical advantages of acrylic fiber in the apparel industry in certain countries are boosting the market.

Asia-Pacific to Dominate the Market

When it comes to Acrylic Fiber, Asia-Pacific holds the largest share of the market worldwide and 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. Rapid increase in population in regions of China and India is expected to give a rise in acrylic fiber demand. Additionally, the increasing demand for Chinese acrylic stable fiber from India is another boosting factor for the acrylic fiber market over the forecast period. Additionally, the increasing demand for Chinese acrylic stable fiber from India is another boosting factor for the acrylic fiber market over the forecast period. All such factors are increasing the demand for acrylic fiber in Asia-Pacific region.

Key Developments in the Market

  • July 2017: Dralon GmbH entered into an agreement with Enzymicals AG, for a joint FNR-funded research project, to produce polyacrylonitrile biocatalitically, in order to reduce CO2 footprint.

The major players include – Formosa Plastics, Toray, Aksa Akrilik Kimya Sanayii AŞ, and Dralon, amongst others.

Acrylic Fiber Market Report Summary

Metrics

Details

Industry

Acrylic Fiber Market

Study Period

(2016 – 2023)

Regions Covered

North America, South America, Asia-Pacific, Europe and Middle East & Africa

Companies Covered

Formosa Plastics, Toray, Aksa Akrilik Kimya Sanayii AŞ, and Dralon,  etc.

Report Coverage

Revenue forecast, market share analysis, and market dynamics

 

Reasons to Purchase This Report

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The application type that is expected to dominate the market
  • Region that is expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market share, and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in excel)

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1. INTRODUCTION

                1.1 Scope of the Report

                1.2 Study Assumptions

                1.3 Study Deliverables               

                1.4 Research Phases

2. EXECUTIVE SUMMARY

3. MARKET INSIGHT

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness – Porter’s Five Forces Analysis

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Consumers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Degree of Competition

                 3.3 Technological Snapshot

                                3.3.1 Production Process

4. MARKET DYNAMICS

                4.1 Drivers

4.1.1 Demand in Blending Applications

                                4.1.2 High Demand for Use in Apparels

                4.2 Restraints

                                4.2.1 Availability of Substitutes, like Polyester

                                4.2.2 Stringent Regulations Worldwide on the Production of Acrylic Fiber

                4.3 Opportunities

5. MARKET SEGMENTATION AND ANALYSIS (MARKET SIZE, GROWTH, AND FORECAST)

                5.1 By Form

                                5.1.1 Staple

                                5.1.2 Filament

                5.2 By Blending

                                5.2.1 Wool

                                5.2.2 Cotton

                                5.2.3 Other Blending

                5.3 By Application

                                5.3.1 Apparel

                                5.3.2 Household Furnishing

                                5.3.3 Industrial

                                5.3.4 Other Applications (Outdoor)

6. REGIONAL MARKET ANALYSIS (MARKET SIZE, GROWTH, AND FORECAST)

                6.1 Asia-Pacific

                                6.1.1 China

                                6.1.2 India

                                6.1.3 Japan

                                6.1.4 South Korea

                                6.1.5 ASEAN Countries

                                6.1.6 Rest of Asia-Pacific

                6.2 North America

                                6.2.1 United States

                                6.2.2 Canada

                                6.2.3 Mexico

                                6.2.4 Rest of North America

                6.3 Europe

                                6.3.1 Germany

                                6.3.2 United Kingdom

                                6.3.3 Italy

                                6.3.4 France

                                6.3.5 Russia

                                6.3.6 Spain

                                6.3.7 Rest of Europe

                6.4 South America

                                6.4.1 Brazil

                                6.4.2 Argentina

                                6.4.3 Rest of South America

                6.5 Middle East & Africa (MEA)

                                6.5.1 Saudi Arabia

                                6.5.2 South Africa

                                6.5.3 Rest of Middle East & Africa

7. FUTURE OF THE MARKET

8. COMPETITIVE LANDSCAPE

                8.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

                8.2 Market Share Analysis**

                8.3 Strategies Adopted by Leading Players

9. COMPANY PROFILES (OVERVIEW, FINANCIALS**, PRODUCTS AND SERVICES, AND RECENT DEVELOPMENTS)

                9.1 Major Players

                                9.1.1 Aditya Birla Management Corporation Pvt Ltd

                                9.1.2 Aksa Akrilik Kimya Sanayii AŞ

                                9.1.3 Dralon

                                9.1.4 Jilin Chemical Fiber Group Co. Ltd

                                9.1.5 Montefibre SpA

                                9.1.6 SINOPEC Shanghai Petrochemical Co. Ltd

                9.2 Other Prominent Players

                                9.2.1 CNPC

                                9.2.2 DOLAN GmbH

                                9.2.3 Exlan Japan Co. Ltd

                                9.2.4 Formosa Plastics Group

                                9.2.5 Grupo Kaltex S.A. de C.V.

                                9.2.6 Indian Acrylics Limited

                                9.2.7 Kaneka Corporation

                                9.2.8 Mitsubishi Chemical Corporation

                                9.2.9 Pasupati Acrylon Ltd

                                9.2.10 TAEKWANG INDUSTRIAL CO. LTD

10. DISCLAIMER

**Subject to Availability on the Public Domain

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