Exploring the Growth of the Acrylic Fibre Market: Trends and Forecasts
The global acrylic fibre market is projected to reach a valuation of US$ 7,779.0 Million 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 Million in 2021, the acrylic fibre market will reach an estimated US$ 5,306.0 Million 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.
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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.
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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