USD 5.1 billion
Acrylic Fiber Market Size, Share, Growth Analysis, By Type(Standard Acrylic Fiber and Specialty Acrylic Fiber), By Application(Apparel, Home Furnishings, Industrial and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2337 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Acrylic Fiber Market Insights
Acrylic Fiber Market size was valued at USD 5.1 billion in 2021 and is poised to grow from USD 5.27 billion in 2022 to USD 6.83 billion by 2030, growing at a CAGR of 3.3% during the forecast period (2023-2030).
The global acrylic fiber market has been experiencing steady growth in recent years, driven by a range of factors such as increasing demand from various end-use industries, favorable properties of acrylic fibers, and technological advancements in production processes. The textile industry is the largest consumer of acrylic fibers, accounting for a significant share of the global market. Acrylic fibers find extensive use in the production of knitted and woven fabrics, blankets, sweaters, and other apparel items. The demand for acrylic fibers in the textile industry is driven by factors such as their softness, lightweight nature, and availability in a wide range of vibrant colors. Moreover, acrylic fibers are easy to dye, allowing manufacturers to create a diverse range of designs and patterns. The growing automotive industry is another key driver for the global market. Acrylic fibers are used in automotive interiors, particularly in the production of upholstery fabrics and carpets. The automotive sector's emphasis on lightweight materials and the need for enhanced comfort and aesthetics have contributed to the increased adoption of acrylic fibers. These fibers provide excellent insulation, resistance to abrasion, and a soft feel, making them suitable for various automotive applications.
US Acrylic Fiber Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Standard Acrylic Fiber
Fastest Growth
Growth Rate
3.3% CAGR
Global Acrylic Fiber Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Acrylic Fiber Market Segmental Analysis
The Global Acrylic Fiber Market is segmented by type, application, and region. Based on type, the market can be segmented into Standard Acrylic Fiber and Specialty Acrylic Fiber. Based on application, the market is segmented into Apparel, Home Furnishings, Industrial and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Acrylic Fiber Market Analysis by Type
Standard Acrylic Fiber segment dominated the global acrylic fiber market. Standard Acrylic Fiber holds a significant market share due to its widespread use across various industries, including textiles, apparel, home furnishings, and industrial applications. It is favored for its affordability, durability, and versatility, making it a popular choice among manufacturers and consumers.
On the other hand, the fastest-growing type in the global acrylic fiber market is Specialty Acrylic Fiber. Specialty Acrylic Fiber is experiencing rapid growth due to its unique properties and specific applications. This type of acrylic fiber is engineered to meet specialized requirements, such as flame retardancy, UV resistance, moisture management, and antimicrobial properties. It finds applications in sectors like outdoor apparel, technical textiles, automotive, and protective clothing, where performance attributes are crucial.
Acrylic Fiber Market Analysis by Application
Apparel dominated the global market. Acrylic fibers are widely used in the textile and fashion industry for manufacturing clothing items such as sweaters, socks, scarves, and sportswear. The popularity of acrylic fiber in the apparel sector can be attributed to its favorable properties, including softness, lightweight, and resistance to wrinkles and shrinkage. Moreover, acrylic fiber is often blended with other natural and synthetic fibers to enhance the durability and performance of clothing, making it a preferred choice for both manufacturers and consumers in the apparel industry.
The fastest-growing application segment in the global acrylic fiber market is Industrial. Acrylic fibers find various industrial applications due to their strength, durability, and resistance to chemicals and UV radiation. In industries such as automotive, marine, and construction, acrylic fibers are used in products like awnings, tents, outdoor furniture, and protective clothing. Additionally, the increasing demand for non-woven fabrics, which are widely used in filtration, geotextiles, and other industrial applications, has also contributed to the rapid growth of the Industrial segment.
Global Acrylic Fiber Market By Type
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Acrylic Fiber Market Regional Insights
In the Global Acrylic Fiber market, North America emerges as the dominant region. North America has a well-established healthcare infrastructure, a high adoption rate of advanced surgical technologies, and a strong emphasis on research and development. The presence of leading medical device manufacturers and a large patient pool requiring microsurgical interventions contribute to the dominance of North America in the market.
The Asia Pacific region is the fastest-growing region in the Global Acrylic Fiber market. The Asia Pacific region encompasses countries such as China, Japan, India, and South Korea, among others. Factors driving the rapid growth in this region include the increasing prevalence of chronic diseases, rising healthcare expenditure, improving healthcare infrastructure, and a growing demand for advanced surgical techniques.
Global Acrylic Fiber By Geography
- Largest
- Fastest
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Acrylic Fiber Market Dynamics
Acrylic Fiber Market Drivers
Replacement for Natural Fibers
- Acrylic fibers are often used as a replacement for natural fibers like wool due to their similar appearance and texture. Acrylic fibers offer the advantage of being more affordable than natural fibers, making them an attractive option for cost-conscious consumers and manufacturers. Additionally, as concerns regarding animal welfare and sustainability increase, acrylic fiber provides a cruelty-free alternative, further driving its demand.
Acrylic Fiber Market Restraints
Environmental Concerns
- Although acrylic fibers offer benefits such as durability and performance, their production is associated with environmental concerns. The petrochemical-based production process releases greenhouse gases, contributing to carbon emissions. Additionally, the non-biodegradability of acrylic fibers raises concerns about their environmental impact and adds to the growing demand for sustainable and eco-friendly alternatives. Government regulations aimed at reducing the carbon footprint and promoting sustainable practices in the textile industry could pose challenges to the acrylic fiber market.
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Acrylic Fiber Market Competitive Landscape
The global acrylic fiber market is a competitive landscape with several key players vying for market share.The market is characterized by the presence of both established players and emerging manufacturers. Established companies typically have well-established distribution networks, brand recognition, and a diverse product portfolio. They leverage their experience and industry presence to maintain a significant market share. On the other hand, emerging players often focus on niche applications or specific regions to carve out their space in the market.
Acrylic Fiber Market Top Player’s Company Profiles
- Dralon GmbH (Germany)
- Kaneka Corporation (Japan)
- Thai Acrylic Fibre Co., Ltd. (Thailand)
- Pasupati Acrylon Ltd. (India)
- Exlan Japan Co., Ltd. (Japan)
- Montefibre SpA (Italy)
- Kaltex Fibers (Mexico)
- Jilin Chemical Fiber Group Co., Ltd. (China)
- DOLAN GmbH (Germany)
- Formosa Chemicals & Fiber Corporation (Taiwan)
- Indian Acrylics Limited (India)
- Hangzhou Bay Acrylic Fiber Co., Ltd. (China)
- The Acrylic Fiber Company (TAF) (Saudi Arabia)
- Taekwang Synthetics Co., Ltd. (South Korea)
- Vardhman Acrylics Limited (India)
- China Petrochemical Corporation (Sinopec) (China)
- Dralon Poland Sp. z o.o. (Poland)
Acrylic Fiber Market Recent Developments
- In May 2023, Aksa Akrilik Kimya Sanayii A.S. (Aksa) announces that it has signed a memorandum of understanding (MoU) with the Egyptian government to invest in a new acrylic fiber plant in Egypt. The plant is expected to have a capacity of 100,000 tonnes per year and is scheduled to be commissioned in 2025.
- In April 2023, Dralon announces that it has signed a contract with the Indian company Vardhman Textiles Limited to supply acrylic fiber for the production of home textiles. The contract is for a period of five years and is worth €100 million.
- In March 2023, Indian Acrylics announces that it has commissioned a new acrylic fiber plant in India. The plant has a capacity of 50,000 tonnes per year and is expected to help the company meet the growing demand for acrylic fiber in India.
- In February 2023, Montefibre announces that it has signed a contract with the Italian company ENI to supply acrylic fiber for the production of industrial textiles. The contract is for a period of three years and is worth €50 million.
- In January 2023, Nilit announces that it has launched a new range of acrylic fiber yarns for the production of sweaters. The yarns are said to be soft, warm, and durable.
Acrylic Fiber Key Market Trends
- Sustainable and eco-friendly fibers: This has led to a shift towards sustainable and renewable materials, including textiles and fibers. Acrylic fiber manufacturers are responding to this trend by developing eco-friendly variants that are biodegradable and produced using environmentally responsible processes. These sustainable acrylic fibers offer similar properties and performance as traditional acrylic fibers, making them a viable alternative for various applications in the textile and apparel industries.
Acrylic Fiber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global acrylic fiber market analysis, there is a growing demand for this synthetic fiber in various industries, including textiles, apparel, home furnishing, and automotive. Acrylic fiber offers several advantages, such as softness, warmth, and resistance to wrinkles and sunlight, making it a preferred choice for a wide range of applications. The increasing demand for acrylic fiber in the fashion and apparel industry is driving market growth, as it is commonly used in knitwear, socks, and sportswear. Moreover, the construction industry's growth is boosting the demand for acrylic fiber in home furnishing and upholstery applications due to its durability and resistance to fading. Additionally, the automotive sector's preference for lightweight materials and enhanced aesthetics is further contributing to the demand for acrylic fiber in car interiors and upholstery. In terms of regional analysis, the Asia Pacific region is witnessing significant growth in the global market, driven by increasing urbanization, population growth, and rising disposable income. The region's robust textile industry, coupled with the expanding home furnishing and automotive sectors, supports the market's growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.1 billion |
| Market size value in 2031 | USD 6.83 billion |
| Growth Rate | 3.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Acrylic Fiber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Acrylic Fiber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Acrylic Fiber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Acrylic Fiber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Acrylic Fiber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Acrylic Fiber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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