Global Acrylic Fiber Market Analysis and Forecast by Form, Blending, End-Use and Region, Acrylic Fiber Market is Expected to Reach USD 5,512 Billion in the Year 2022| Acrylic Fiber Industry
— Market Highlights
The global acrylic fiber market has been evaluated to be rapidly growing and is expected to grow tremendously. Utilization of acrylic fiber is increasing as it is mixed with various material to provide enhanced quality to the final product. Along with supply of its substitute products like wool and cotton although in less quantity is affecting the global acrylic fiber market noticeably. These factors will increase the global acrylic fiber market over the forecasted period. However, the demand for acrylic fibers are facing sluggish demand for acrylic fiber in developed countries and are facing significant challenge in coping with the growth of the market as there is limited application of the acrylic fiber.
The acrylic fiber market is segmented on the basis of form namely, staple and filament. The demand of acrylic staple fiber is declining consistently since 2003. In 2006 and 2007, its utilization declined approximately by 8.5%. In the following five years the demand for acrylic fiber was stagnant. Keeping in view the present economic situation, the utilization of acrylic staple fiber is expected to grow by 2.3 % which has started in 2016 and is expected to continue till 2022.
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The acrylic fiber market is segmented on basis of blending namely cotton, wool, and others. The cotton blending segment is anticipated to register a CAGR of 4.5% over the forecasted period. When blended with other materials, acrylic fiber enhances the physical and chemical characteristics of the end product consequently increasing blend applications of the same.
The acrylic fiber market is segmented on basis of end-use namely wardrobe, furnishing, industrial and others. The wardrobe segment is anticipated to register a CAGR of 4.1% over the forecasted period.
• Aksa Akrilik Kimya Sanayii A.Ş. (Aksa)
• Dralon, Aditya Birla Group
• Jilin Chemical Fiber Group Company
• taekwang industrial co. Ltd.
• Exlan Japan Co. Ltd.
• Kaneka Corporation
• Indian Acrylics Limited
• Pasupati Acrylon Ltd.
• Vardhman Acrylics Ltd.
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Asia-Pacific region is expected to maintain its dominance in the global acrylic fiber market. Emerging markets of China, South Korea, Taiwan and India are expected to boost the Asia Pacific acrylic fiber market. Other emerging markets are Middle East and Africa countries.
The largest market of acrylic fiber is in Asia-Pacific as it has highest consumer of acrylic fiber. China is the leading producer of acrylic fiber followed by South Korea and Taiwan. Middle East and Africa are second largest market of acrylic fiber. North America is facing a sluggish growth since 2006 followed by Europe. European manufactures have stopped producing acrylic fiber as there is limited application of the same here.
The global acrylic fiber market is majorly segmented on the basis of by form, by blending and by end-use. Based on form the market is segmented into staple and filament. On the basis of blending the market is classified cotton, wool, and others. Further on basis of end-use the market is segmented into wardrobe, furnishing, industrial and others
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