The size of the worldwide acrylic fibre market was estimated at US$5,113.4 million in 2021, and it is anticipated to reach US$5,306.0 million in 2022. Additionally, it is anticipated that global demand for acrylic fibres would increase at a 3.9% CAGR between 2022 and 2032, reaching US$ 7,779.0 Million by that year due to growing utilization across numerous end-use industries.
Acrylic fiber is a synthetic fiber made from polymers derived from petroleum. It is widely used in the textile industry due to its desirable properties. Acrylic fibers are known for their softness, lightweight nature, and excellent moisture-wicking abilities. They are often used as a substitute for wool, providing warmth and insulation without the added bulk. Acrylic fibers are also resistant to wrinkles, shrinkage, and fading, making them durable and easy to care for.
Additionally, acrylic fibers can be easily dyed, allowing for a wide range of vibrant colors. With their versatility and affordability, acrylic fibers find applications in various products, including clothing, upholstery, carpets, and outdoor gear.
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“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.
Key Takeaways:
- 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.
Competitive Landscape
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.
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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.
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