According to FMI, India is expected to account for a substantial share of the global acrylic fibre market, owing to the rapid expansion of textiles industry and rise in export of yarns and fibres. The acrylic fibres market in China is projected to grow at an estimated value CAGR of 4.6 % in 2022. With more than 30% of the world's production of acrylic fibres, China is the world's leading manufacturer of these fibres
NEWARK, Del, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The global acrylic fibre market is projected to reach a valuation of US$ 7,779.0 Mn in 2032, with the demand growing at a stagnant CAGR of 3.9% over the forecast period of 2022 to 2032. Climbing up from a value of US$ 5,113.4 Mn in 2021, the acrylic fibre market will reach an estimated US$ 5,306.0 Mn by the end of 2022. Large-scale usage across a variety of end-use industries, and escalating use in the production of knitted items drives the acrylic fibre market during this period of observation. The material’s use in the making of craft yarns, fake fur, carpets, vehicle covers, and upholstery fabric will further augment its sales.
With recent recognition of acrylic fibre’s ability to blend with other materials, the material is observing a rapid rise in its demand. The use of this fibre in blends with materials like cotton, wool, polyester, and others is gaining momentum due to its favorable physical, chemical, and thermo-biological features. Again, these fibres provide a more aesthetic and natural look; they are highly resistant to microbial attack, mild alkalis, and UV deterioration. Thus, acrylic fibres are increasingly used to create different types of garments and even used in the home furnishing industry.
Moreover, some recent developments in the acrylic fibre market such as the material’s use in the production of carbon fibres, flame-retardant acrylic fibre, weather-resistance acrylic fibre, antimicrobial acrylic fibre have generated more opportunities for the market. Flame-retardant acrylic fibre, weather-resistance acrylic fibre, antimicrobial acrylic fibre are materials that are often used in hospitals, manufacturing industries, and others. Advancements in processing and other technologies will also contribute to market growth as this kind of progress may make it feasible to produce acrylic fibres from new sources. All of these factors will foster an environment of growth for the acrylic fibre market during the assessment period.
“Increasing use of acrylic fibre in end use industries like home furnishing, apparels, industrial goods, and many others is expected to encourage the market growth of acrylic material over the forecast period,” says an FMI analyst.
Expanding fashion industry to facilitate lucrative market opportunities.
Raw material price fluctuations and availability of alternatives may impede market growth.
The acrylic fibre market in India is predicted to grow at a high CAGR.
Export of synthetic fibres to drive market growth in China.
By dyeing method, the gel dyeing segment will gain a notably high revenue during the forecast period.
By form, the acrylic staple fibre segment is predicted to register a 3% CAGR over the assessment period.
Aksa Akrilik Kimya Sanayii A., Dralon, Aditya Birla Group, Jilin Chemical Fiber Company, TAEKWANG INDUSTRIAL CO., LTD, Exlan Japan Co., Ltd., Kaneka Corporation, Indian Acrylics Limited, Pasupati Acrylon Ltd., Vardhman Acrylics Ltd., and others are some of the major players in the acrylic fibre market that are profiled in the full version of the report.
Major market players are focusing on product innovation and releases. These businesses are also employing expansion and acquisition strategies to gain a competitive advantage.
More Insights into Acrylic Fibre Market Report
In its latest report, FMI offers an unbiased analysis of the global acrylic fibre market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented on the basis of fibre form (staple, filament), dyeing method (acid, gel, undyed), blending (wool, cotton, others), end use (apparel, home furnishing, industrial, outdoor), and region.
According to the latest FMI reports, based on region, the acrylic fibre market in India is expected to exhibit substantial growth during the forecast period. The country will likely account for a major portion of the global market share by the end of 2032. The swiftly advancing textile industry and growing export of yarns and fibres are accountable for the regional market growth. Along with India, China, too, is predicted to present impressive market growth during 2022-2032. China is the world’s leading producer of acrylic fibre, accounting for over 30% of the global production of the material.
Based on segmentation, on the basis of the dyeing method, the gel dyeing method is expected to dominate the market. In terms of form, the acrylic staple fibre segment will lead the market growth over the forecast period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Trends & Success Factor
3.1. Key Trends Impacting the market
3.2. Success Factor
4. Global Acrylic Fibre Market Demand Analysis 2015-2021 and Forecast, 2022-2032
4.1. Historical Market Volume (Tons) Analysis, 2015-2021
4.2. Current and Future Market Volume (Tons) Projections, 2022-2032
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