The global acrylic fiber market size is expected to reach USD 6,893.8 Million in 2030 and register a steady revenue CAGR of 3.3% during the forecast period, according to the latest report by Reports and Data. Increasing application of acrylic fibers in the manufacturing of apparel, home textiles, toys, and auxiliary tapes, among others, is a key factor expected to continue to boost demand for acrylic fibers and drive market revenue growth over the forecast period. In addition, unique properties of acrylic fibers such as high resistance to solvents, sunlight, and creasing, and quick drying characteristics have increased adoption in the manufacture of woven and knitted clothing fabrics, carpets, and upholstery. Rising demand for clothing and attire is driven by rapid increase in global population, increasing number of families and individuals opting to purchase homes and apartments is supported by the ongoing urbanization trend, and high demand for automobiles globally is supported by increasing disposable income, changing lifestyle, and improving standard of living among others. These key factors are supporting growth of fabrics, carpets, and automotive industries currently, and driving revenue growth of the acrylic fiber market to a significant extent.
Top Companies Operating in the Global Acrylic Fiber Market:
Dralon, Aditya Birla Management Corporation Pvt. Ltd., Indian Acrylics Limited, Kaneka Corporation, DOLAN GmbH, TAEKWANG Industrial Co., ltd., Japan Exlan Co., Ltd., Vardhman Acrylics Ltd., China Petrochemical Corporation, Toray Industries, Inc., Formosa Plastics Corporation, and Chemtex Company.
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Some Key Highlights From the Report:
- Filament segment accounted for largest revenue share in the global market in 2020 and is expected to register a significantly robust revenue growth rate over the forecast period. Stretching acrylic fibers into long, thin filaments makes them many times longer than their original length, which can then be spurn into yarns. This reduces costs and enhances production efficiency as well as reduces coarseness of the resultant material, which is a key factor expected to drive revenue growth of this segment.
- Wool segment is expected to register steady revenue growth over the forecast period owing to increasing blending of acrylic fibers with wool to produce an end-product with enhanced elasticity and resilience with superior lightweight properties. These blended fabrics are in high demand owing to cost-effectiveness and value addition to apparel and clothing.
- Home furnishing segment is expected to account for a significantly larger revenue share than other application segments in the global market between 2021 and 2028. This can be attributed to increasing scope for application of acrylic fibers in home textiles owing to multiple advantages such as soft and aesthetically appealing fabrics, high resistance to UV rays, and easy washing and quick-drying characteristics, among others.
- Asia Pacific market revenue is expected to expand at a robust CAGR owing to increasing investment in the textile and apparel sector and rising production of acrylic fibers in countries in the region owing to high demand from domestic and international markets. China is the largest acrylic fiber producer and manufacturer and accounts for a significantly large revenue share contribution to the Asia Pacific acrylic fiber market.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Acrylic Fiber Market Segmentation
By Form Outlook:
- Staple
- Filament
By Blending Outlook:
- Wool
- Cotton
- Cellulose
- Others
By Dyeing Method Outlook:
- Acid
- Gel
- Undyed
By Application Outlook:
- Apparel
- Household Furnishings
- Industrial
- Others
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