The global Acrylic Fibres Market is on the brink of substantial growth, with impressive valuations and a promising trajectory over the next decade. According to market projections, the market size is set to surpass a significant milestone, reaching a valuation of US$ 5,470.6 million by the end of 2023. This rapid advancement is expected to continue its upward trajectory, with estimations suggesting a remarkable increase to a valuation of US$ 8,006.7 million by 2033. Such substantial growth prospects have captured the attention of industry experts and stakeholders alike.
The projected compound annual growth rate (CAGR) of 4.2% from 2023 to 2033 underscores the sustained expansion of the acrylic fibres market. This growth rate is a testament to the industry’s resilience and the increasing demand for acrylic fibres across different sectors
Due to its characteristics, such as softness, lightness, and superb drape, acrylic fibers are frequently used in the textile industry. Due to their comparable warmth and appeal at a lesser price, they are frequently used to replace natural fibers like wool. The textile industry’s rising need for acrylic fibers has fueled the market’s growth.
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It is simple to blend acrylic fibers with other fibers, such as cotton, wool, and polyester, improving their qualities and making them appropriate for various applications. The popularity of acrylic fibers is growing because they may be tweaked to match certain specifications for various end-use sectors, including garments, home textiles, upholstery, and industrial uses.
The growing emphasis on health and fitness has increased demand for outdoor and sportswear. These applications benefit from the characteristics of acrylic fibers, such as breathability, resistance to fading, and resistance to pilling. This industry’s demand for acrylic fibers is increasing as consumers want more cozy and long-lasting garments.
The proliferation of e-commerce platforms and online vendors has increased the market for textile items on a worldwide scale. Customers may access a variety of items, including those derived from acrylic fibers, through online retail, improving their visibility and sales, which in turn supports market expansion.
Key Takeaways from Acrylic Fibre Market Report:
- In 2018, the global market size stood at US$ 4,696.1 million.
- The market expanded at a CAGR of 3.1% from 2018 to 2022.
- In 2022, the global market size stood at US$ 5,306.1 million.
- The filament segment captured 58.1% of global market shares in 2022.
- The apparel segment acquired 38.3% of global market shares in 2022.
- India captured 3.8% of global market shares in 2022.
- The United States captured 13.1% of global market shares in 2022.
- China captured 3.2% of global market shares in 2022.
- The United Kingdom captured 4.1% of global market shares in 2022.
Recent Developments Observed by FMI:
- In March 2022, AKSA announced that by acquiring two new production lines, its annual production capacity would increase to 365 kilotons. With a US$ 24 million budget, the project is projected to be finished in 15 months.
- Thai Acrylic Fiber Co Ltd, a subsidiary of Aditya Birla Group, introduced “Regel” recycled acrylic fiber in 2022.
- In 2021, Oak Ridge National Laboratory scientists developed a cheap carbon fiber that might reduce the cost of wind turbine blades. Fibre is initially a readily accessible raw material with large bundles of acrylic fibers used in the textile industry. Any fibers in the material are turned into carbon when it is heated. Pultrusion, a procedure similar to extrusion where the material is dragged through a die instead of being pushed through, transforms the fibers into planks.
Key Players in the Global Market:
- Aksa Akrilik Kimya Sanayii A.
- Dralom
- 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.
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Acrylic Fibre Market Segmentation
By Fiber Form:
- Staple
- Filament
By Dyeing Method:
- Acid
- Gel
- Undyed
By Blending:
- Wool
- Cotton
- Others
By End Use:
- Apparels
- Home Furnishing
- Industrial
- Outdoor
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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