Global Acrylic Fibers Market By Type (Staple, Filament), By Application (Apparel & Clothing, Home Furnishings, Industrial Applications, Toys, Artificial Fur), & By Geographic Scope And Forecast
Report ID: 275739|No. of Pages: 202
Global Acrylic Fibers Market By Type (Staple, Filament), By Application (Apparel & Clothing, Home Furnishings, Industrial Applications, Toys, Artificial Fur), & By Geographic Scope And Forecast
Acrylic Fibers Market Size and Forecast
Acrylic Fibers Market size was estimated at USD 5.22 Billion in 2024 and is projected to reach USD 6.59 Billion by 2031, growing at a CAGR of 3.26% from 2024 to 2031.
- Acrylic fibers, man-made marvels mimicking wool, offer a versatile and affordable alternative. Made from acrylonitrile, these synthetic fibers are often blended with others like cotton or polyester for enhanced properties.
- Clothing benefits greatly from its softness, warmth, and affordability. Sweaters, socks, and fleece wear are just a few examples.
- Acrylic’s easy-care nature extends to home furnishings like blankets, carpets, and upholstery, making them stain-resistant and effortless to maintain.
- Beyond comfort and practicality, acrylic fibers boast advantages in the industrial realm. They contribute to filtration media, and composites, and even find their way into automotive parts.
- The benefits extend further, with acrylic fibers popping up in toys, artificial fur, and even luggage.
Global Acrylic Fibers Market Dynamics
The key market dynamics that are shaping the acrylic fibers market include:
Key Market Drivers
- Growing Consumer Preference for Affordable Apparel and Furnishings: Driven by rising disposable incomes, particularly in developing economies, a growing preference for affordable apparel and home furnishings is observed among consumers. This demand is addressed by acrylic fibers due to their lower cost compared to natural fibers like wool or cashmere, while still offering desirable qualities like softness and warmth.
- Technological Advancements in Acrylic Fiber Production: Constant advancements in acrylic fiber production technologies are resulting in the development of new fibers with enhanced properties. These advancements, such as improved dyeing capabilities, wrinkle resistance, or moisture management, are leading to the expansion of the applications of acrylic fibers and the strengthening of their position in the market.
- Environmental Considerations and Focus on Sustainability: While the environmental impact of acrylic fibers is a concern, a growing focus on sustainable practices within the industry is observed. This includes the development of eco-friendly production methods and the utilization of recycled acrylic fibers. As advancements towards a more sustainable acrylic fiber industry are achieved, an increase in its market acceptance is expected.
Key Challenges
- Prevalence of Substitutes: The acrylic fibers market faces stiff competition from a variety of established substitute materials. Particularly dominant is polyester, another synthetic fiber known for its durability, lightweight properties, and strong color retention. This abundance of alternatives can hinder the growth potential of acrylic fibers.
- Environmental Concerns: Growing awareness regarding the environmental impact of synthetic materials like acrylic fibers poses a significant challenge. Acrylic fiber production can involve energy-intensive processes and may raise concerns about microplastics shed during washing. Consumers increasingly seek eco-friendly alternatives, putting pressure on the acrylic fibers market.
- Fluctuations in Raw Material Costs: The cost of acrylonitrile, the key raw material for acrylic fibers, can fluctuate depending on various factors. This volatility can disrupt production planning and lead to price instability for finished acrylic fiber products, creating uncertainty for manufacturers and potentially impacting consumer demand.
Key Trends
- Rising Demand from the Fashion Industry: A surge in demand is being witnessed in the acrylic fibers market, driven by the ever-evolving fashion industry. Acrylic’s ability to mimic the look and feel of natural fibers at a lower cost makes it an attractive option for apparel manufacturers. This trend is expected to continue as ways to cater to consumer demand for both affordability and style are sought by the fashion industry.
- Growing Adoption in E-commerce for Furniture & Furnishings: The acrylic fibers market is projected to be influenced by the increasing popularity of online furniture and furnishing purchases. Acrylic’s durability, stain resistance, and ease of maintenance make it a suitable choice for furniture upholstery and homeware. As easier access to these products is facilitated by e-commerce platforms, the demand for acrylic fibers in this sector is anticipated to rise.
- Focus on Sustainability and Environmental Concerns: Despite being synthetic, efforts are being made to address environmental concerns regarding acrylic fibers. Sustainable production practices and the development of eco-friendly acrylic fibers are trends gaining traction within the market. This focus on sustainability could potentially mitigate consumer resistance towards synthetic materials and lead to a more positive outlook for the acrylic fibers market.
- Expansion into New Applications: Diversification beyond traditional applications in clothing and furnishings is likely to be seen in the acrylic fibers market. The use of acrylic fibers in various industrial applications, such as filtration media and composites, is being explored through research and development efforts. Fresh growth opportunities for the acrylic fibers industry could be created by this expansion into new markets.
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Global Acrylic Fibers Market Regional Analysis
Here is a more detailed regional analysis of the acrylic fibers market:
Asia Pacific
- A thriving textile industry is hosted by the Asia Pacific region, particularly in countries like China and India, resulting in high demand for raw materials such as acrylic fibers.
- Cost-effective production of acrylic fibers is ensured by manufacturing capabilities in the region, rendering them appealing compared to natural fibers.
- Consumer spending on apparel and home furnishings, key applications for acrylic fibers, is spurred by increasing disposable incomes across the region.
- The region’s dominance in this market is further cemented by government support, including policy incentives.
Europe
- In Europe, a well-established acrylic fibers industry is likely possessed, characterized by robust infrastructure and expertise, granting a competitive edge.
- High-quality acrylic fibers are known to be prioritized by European producers, targeting a specific market segment within the global market.
- Technological advancement in acrylic fiber production is often spearheaded by Europe, enabling the production of innovative and specialized fibers.
Global Acrylic Fibers Market: Segmentation Analysis
The Global Acrylic Fibers Market is Segmented Based on Type, Application, and Geography.
Acrylic Fibers Market, By Type
- Staple
- Filament
Based on Type, the market is segmented into Staple and Filament. Staple fiber is reported to hold the highest market share in the acrylic fibers market. This dominance is attributed to the widespread use of staple acrylic fibers across various applications in clothing, blankets, and carpets.
Acrylic Fibers Market, By Application
- Apparel & Clothing
- Home Furnishings
- Industrial Applications
- Toys
- Artificial Fur
Based on Application, the market is bifurcated into Apparel & Clothing, Home Furnishings, Industrial Applications, Toys, and Artificial Fur. The apparel & clothing segment is estimated to hold the highest market share in the acrylic fibers market. This dominance is attributed to the widespread use of acrylic fibers in various garments due to their affordability, warmth, and softness.
Acrylic Fibers Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, the Acrylic Fibers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region is believed to hold the dominant market share. This dominance is attributed to the thriving textile industries in countries like China and India. These industries drive up the demand for acrylic fibers in the region.
Key Players
The “Acrylic Fibers Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Aksa Akrilik, Dralon, Aditya Birla Group, Exlan, Taekwang, Mitsubishi Rayon Group, Formosa Plastics Corporation, Tong-Hwa Synthetic Fiber, Kaltex Fibers, and Toray.
Our market analysis includes a section specifically devoted to such major players, where our analysts give an overview of each player’s financial statements, product benchmarking, and SWOT analysis. The competitive landscape section also includes key development strategies, market share analysis, and market positioning analysis of the players above globally.
Acrylic Fibers Market Recent Developments
- In March 2022, an announcement was made by AKSA regarding the increase of its production capacity from 330 kilotons/year to 365 kilotons/year through the investment in 2 new production lines. The project, with a budget of USD 24 million, is planned to be commissioned in 15 months.
- In January 2021, Bluesign’s system partnership was attained by Thai Acrylic Fibre Co. Ltd (TAF), a company within the Aditya Birla Group. An elaborate screening process was undergone by TAF in 2020, encompassing input stream management, environment management, OHS, product stewardship, and legal and social compliance.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Aksa Akrilik, Dralon, Aditya Birla Group, Exlan, Taekwang, Mitsubishi Rayon Group, Formosa Plastics Corporation, Tong-Hwa Synthetic Fiber, Kaltex Fibers, and Toray |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL ACRYLIC FIBERS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL ACRYLIC FIBERS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL ACRYLIC FIBERS MARKET, BY TYPE
5.1 Overview
5.2 Staple Fibers
5.3 Tows
5.4 Tops
6 GLOBAL ACRYLIC FIBERS MARKET, BY APPLICATION
6.1 Overview
6.2 Clothing
6.3 Home Furnishings and Bedding
6.4 Industrial Uses
6.5 Others
7 GLOBAL ACRYLIC FIBERS MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East and Africa
8 GLOBAL ACRYLIC FIBERS MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Aksa Akrilik.
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Dralon.
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Aditya Birla Group.
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Exlan.
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Taekwang.
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Mitsubishi Rayon Group.
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Development
9.7 Formosa Plastics Corporation.
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 Tong-Hwa Synthetic Fiber.
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Kaltex Fibers.
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Development
9.10 Toray.
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Development
10 Appendix
10.1.1 Related Reports
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Industry Analysis Matrix
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