Acrylic Fibers Market Insights: Trends, Demand, and Key Players
Acrylic fibers also are referred to as synthetic fibers which contains almost 85% acrylonitrile monomer in their chemical composition. they’re widely used across various industrial applications like apparel, home furnishing, industrial, etc. It are often used as 100% pure, or together with other natural and artificial fibers.
The global acrylic market was valued at US$ 4,587.8 Mn in 2018 and is anticipated to succeed in USD 6,225.2 Mn by the top of 2027, growing at a CAGR of three .9% during the forecast period (2019 to 2027).
Rising demand from the textile industry is anticipated to generate higher revenue for acrylic fibers over the next coming years. Acrylic fibers are used to offer natural aesthetic fabrics owing to their capability of adapting multi-color dyes in clear, bright, and muted tones. Moreover, they have excellent resistance to weak alkalis, UV degradation, and microbiological attack. Various properties offered by acrylic fiber is projected to boost the demand for acrylic fibers from textile industry.
Top Key Players in Acrylic Fibers market: Aksa, Akrilik, Kimya, Sanayii, A.?.(Aksa) Dralon Aditya, Birla, Group Jilin, Chemical, Fibre, Company, TAEKWANG, INDUSTRIAL, CO., LTD Exlan, Japan, Co., Ltd. Kaneka, Corporation Indian, Acrylics, Limited Pasupati, Acrylon, Ltd. Vardhman, Acrylics, Ltd
Regional Analysis For Acrylic Fibers Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Acrylic Fibers market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
- North America [U.S., Canada, Mexico]
- Europe [Germany, UK, France, Italy, Rest of Europe]
- Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
- South America [Brazil, Argentina, Rest of Latin America]
- Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
The fluctuating price of the fabric compelling manufacturer to choose an alternate like polyester, nylon, cellulose, etc. is predicted to curb the market growth of acrylic fibers.
Increasing termination of varied production units across the varied region like the U.S. & Europe thanks to intense competition especially from polyester fibers is additionally projected to hamper the market growth of acrylic fibers.
The rising number of research and development activities round the globe for developing enhanced and modified characteristics of acrylic is predicted to supply immense growth opportunities to the market of acrylic .
Ongoing developments in acrylic like weather-resistant, flame-retardant acrylic , and anti-microbial acrylic also are expected to supply new growth opportunities to the market over the forecast period. as an example , in September 2018, Thai Acrylic Fibre Co. (Aditya Birla Group) and Bulliontex Co. Ltd. have announced a partnership to supply quality outdoor fabrics to the Thailand market. These fabrics, made with Thai Acrylic Fibre Co.’s Durashin fiber are used for awnings, outdoor furniture, and marine fabrics. Through this arrangement, these fabrics are going to be locally available throughout Thailand.
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