Acrylic Fiber Market Size to Reach USD 5.31 Billion in 2028: CAGR of 2.3% | Reports and Data

- Increasing use of acrylic fibers in home textiles and furnishing, garments, and industrial applications is a key factors driving market revenue growth

- Market Size – USD 4.41 Billion in 2020, Market Growth - CAGR of 2.3%, Market Trends – Extensive use of acrylic fibers as a substitute for wool

NEW YORK, Aug. 4, 2021 /PRNewswire/ -- The global acrylic fiber market size is expected to reach USD 5.31 billion in 2028 and register a steady revenue CAGR of 2.3% during the forecast period, according to the latest report by Reports and Data. Increasing application of acrylic fibers in the manufacturing of apparel, home textiles, toys, and auxiliary tapes, among others, is a key factor expected to continue to boost demand for acrylic fibers and drive market revenue growth over the forecast period. In addition, unique properties of acrylic fibers such as high resistance to solvents, sunlight, and creasing, and quick drying characteristics have increased adoption in the manufacture of woven and knitted clothing fabrics, carpets, and upholstery. Rising demand for clothing and attire is driven by rapid increase in global population, increasing number of families and individuals opting to purchase homes and apartments is supported by the ongoing urbanization trend, and high demand for automobiles globally is supported by increasing disposable income, changing lifestyle, and improving standard of living among others. These key factors are supporting growth of fabrics, carpets, and automotive industries currently, and driving revenue growth of the acrylic fiber market to a significant extent.

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Acrylic fibers are synthetic fibers made from polyacrylonitrile – a polymer and a comonomer – which is a monomer that reacts with another monomer to produce a copolymer. The fiber has a high resistance to Ultra Violet (UV) degradation and damage from mold, microorganisms, and mildew. Mechanical properties of these fibers allow them to develop bulk and resiliency similar to that of natural wool. Owing to ability to maintain warmth and offer a wool-like feel and attributes, acrylic fibers are often used as a cost-effective alternative for cashmere wool and also widely used in the production of a broad range of products such as socks, sweaters, and home furnishings. Mixing and blending of a variety of acrylic polymer before fibers are created results in specifically engineered properties in materials produced. Incorporation of functional additives in acrylic fibers used in clothing material provides enhanced comfort to the wearer and increases aesthetic appeal.

Increasing penetration of e-Commerce channels, constantly changing fashion trends, and availability of budget-friendly apparel and clothing and wear are other factors contributing to increasing sales of acrylic fibers. However, rising environmental concerns associated with the use of toxic materials in the manufacture of these fibers, high costs associated with recovery of solvents, and availability of alternatives such as polyester are some key factors expected to hamper market growth to a certain extent going ahead.  

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Some Key Highlights From the Report:

• Filament segment accounted for largest revenue share in the global market in 2020 and is expected to register a significantly robust revenue growth rate over the forecast period. Stretching acrylic fibers into long, thin filaments makes them many times longer than their original length, which can then be spurn into yarns. This reduces costs and enhances production efficiency as well as reduces coarseness of the resultant material, which is a key factor expected to drive revenue growth of this segment.
• Wool segment is expected to register steady revenue growth over the forecast period owing to increasing blending of acrylic fibers with wool to produce an end-product with enhanced elasticity and resilience with superior lightweight properties. These blended fabrics are in high demand owing to cost-effectiveness and value addition to apparel and clothing.
• Home furnishing segment is expected to account for a significantly larger revenue share than other application segments in the global market between 2021 and 2028. This can be attributed to increasing scope for application of acrylic fibers in home textiles owing to multiple advantages such as soft and aesthetically appealing fabrics, high resistance to UV rays, and easy washing and quick-drying characteristics, among others.
• Asia Pacific market revenue is expected to expand at a robust CAGR owing to increasing investment in the textile and apparel sector and rising production of acrylic fibers in countries in the region owing to high demand from domestic and international markets. China is the largest acrylic fiber producer and manufacturer and accounts for a significantly large revenue share contribution to the Asia Pacific acrylic fiber market.

Some major companies operating in the global market include:

·

• Dralon
• Aksa Akrilik Kimya Sanayii AS
• Jilin Chemical Fiber Group Co. Ltd.
• Aditya Birla Management Corporation Pvt. Ltd.
• Montefibre SpA
• CNPC
• Indian Acrylics Limited
• DOLAN GmbH
• Kaneka Corporation
• Formosa Plastics Group

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For the purpose of this report, Reports and Data has segmented the global acrylic fiber market on the basis of form, blending, application, and region:

Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• Staple
• Filament

Blending Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• Wool
• Cotton
• Other Blending

Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• Apparel
• Household Furnishings
• Industrial
• Others

Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Argentina
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• Israel
• Turkey
• South Africa
• Rest of MEA

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