Industry Background:
Acrylic fibers, synthetic fibers that are made from a polyacrylonitrile polymer. Acrylic fibers includes at least 85% acrylonitrile monomer. With acrylonitrile monomer, other comonomers used are vinyl acetate or methyl acrylate. Manufactured as a filament, these fibers are then cut into short staple lengths like to wool hairs, and spun into yarn Acrylic fibers are strong and warm and are often used for sweaters, tracksuits, as linings for boots & gloves, in furnishing fabrics, and carpets. The growing demand from the apparel industry as well as the rising application of acrylic fibers in household furnishings are the impelling factors for growth of global acrylic fibers market.
According to AMA, the market for Acrylic Fibers is expected to register a CAGR of 1.8% during the forecast period to 2026. This growth is primarily driven by The Growing Demand from the Apparel Industry and The Rising Application of Acrylic Fibers in Household Furnishings.
Globally, a noticeable market trend is evident Growing Inclination towards Use of Eco-Friendly Fibers. The Specialty Chemicals sector in the Asia-Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Aksa Akrilik Kimya Sanayii (Turkey), Dolan GmbH (Germany), Thai Acrylic Fibre Co. Ltd. (Aditya Birla Group) (India), Toyoba Group Exlan (Japan), Mitsubishi Chemical Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Formosa Plastics Corporation (Taiwan), Tong Hwa Synthetic Fiber Company Limited (Taiwan), Kaltex Fibers SA de CV (Mexico) and Vardhman Textiles Ltd (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- The Growing Demand from the Apparel Industry
- The Rising Application of Acrylic Fibers in Household Furnishings
Market Trend
- Growing Inclination towards Use of Eco-Friendly Fibers
Restraints
- High Cost of Acrylic Fibers
- High Fluctuation in Raw Material Price
Opportunities
Growing Use of Acrylic Fibers in Filtration Application and Growing Demand from Untapped Markets
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Acrylic Fibers Study Sheds Light on
The Acrylic Fibers Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Acrylic Fibers industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Acrylic Fibers industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.