FMI predicts the overall staple acrylic sales to rise at 3.6% CAGR owing to consistent demand from the textile industry, which is a major consumer of acrylic fibers and consumes more than 50% of the total staple acrylic fibre production. The global staple acrylic fiber industry is expected to grow from US$ 2,964.4 Million in 2022 to US$ 4,230.9 Million by 2032.
Although acrylic fabric is among the least breathable types of textiles, it is preferred for applications requiring heat retention. For instance, tracksuits, hoodies, and athletic pants are frequently constructed of acrylic fabric.
The market has been predominantly influenced by certain macroeconomic and industrial factors including demographic dividends, textile industry growth, economic growth, per capita disposable income, etc.
In its natural condition, acrylic is very similar to wool; but, depending on the spinning mechanism employed, it can be made to resemble other fabrics, such as cotton. Acrylic feels like wool and is warm, soft, and lightweight. It has great colorfastness and stains quite successfully.
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Staple acrylic has become a popular material for upholstery, carpeting, rugs, and other conventional wool-dominated homeware product categories. Demand for staple acrylic fibers from the sectors like textiles, furniture, and automotive is anticipated to increase due to the various qualities that staple acrylic fibre offers.
China is the world’s largest producer of acrylic fabric, as well as the largest market for acrylic garments. The country exports a large portion of its textile and clothing production to several regions of the world.
Key Takeaways:
- The global staple acrylic fibre market is projected to witness a CAGR of 3.6% during the period between 2022 and 2032.
- By blend, the acrylic-wool segment is expected to expand at a CAGR of 4.0% during the forecast period.
- By end use, the textile & apparel segment is expected to grow at a CAGR of 4.1% during the projected period.
- China’s staple acrylic fibre market is expected to reach about US$ 1,106.0 Mn by end of 2032.
- The staple acrylic fibre market in India is expected to reach US$ 315.8 Mn by end of 2032.
Competitive Landscape
According to FMI analysis, Aksa Akrilik Kimya Sanayii AS, Thai Acrylic Fibre Co. Ltd (TAF), Jilin Chemical Fiber Co., Ltd., Taekwang Industry Co. Ltd., Indian Acrylics Ltd., CHEMTEX GLOBAL CORPORATION, Vardhman Acrylics Ltd, Pasupati Acrylon Ltd., Japan Exlan Co. Ltd., Kaneka Corporation and others are identified as the key manufacturers in the Staple Acrylic Fibre market.
Key market participants are investing a fair share of their revenue in R&D and are concentrating on the adoption of new & modified manufacturing techniques to get high-quality products.
For instance:
- In August 2020, Aksa Akrilik, an acrylic Fibre producer, added another line to its innovative efforts named Everfresh. Developed after extensive research, Everfresh offers a solution to consumers’ hygiene expectancies with its enduring antimicrobial properties and is environment-friendly, and also contains no harmful chemicals.
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Staple Acrylic Fibre Market Segmentation
By Dyeing Method:
- Dyed
- Acid
- Gel
- Undyed
By Blend:
- Acrylic-Wool
- Acrylic-Viscose
- Acrylic-Nylon
- Acrylic-Cotton
- Others
By End Use:
- Textiles & Apparel
- Furniture Upholstery
- Industrial Filtration Material
- Building & Construction
- Automotive
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