Modacrylic Fiber Market for Protective Apparel, Hair Fiber, Upholstery & Household, Pile (Synthetic/Fake Fur), Industrial Fabric - Global Forecast to 2021
“Increase in demand for modacrylic protective apparel application across the globe to drive the market for modacrylic fiber.” The global market for modacrylic fiber is projected to grow from USD 621.9 million in 2016 to USD 723.7 million by 2021, at a CAGR of 3.08%. The increase in demand for innovative fire resistant fabrics that offer additional features along with fire resistance, are playing a major role in providing the necessary momentum for the growth of the modacrylic fiber market. However, fluctuating raw material prices and lack of safety compliance could pose a threat to the growth of the market.
“The hair fiber segment to gain a major share during the forecast period.” The hair fiber segment is projected to be the fastest-growing in the modacrylic fiber market during the next five years. Modacrylic hair fiber has emerged as the best substitute due to its added beneficial features such as, ease in dyeing, easy availability and its ability to withstand heat, allowing the curling or styling of the fiber on wigs easily.
“The Asia-Pacific region accounted for the largest market share in 2015.” The market for modacrylic fiber is segmented on the basis of region into, North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The Asia-Pacific region accounted for the largest share of the total demand generated by the global modacrylic fiber market in 2015, owing to the developing emerging nations in the region. The Asia-Pacific region is also projected to be the fastest-growing market for modacrylic fiber during the forecast period, owing to the growth in the economies and rapid growth in industrialization.
Breakdown of primaries: Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the modacrylic fiber market. The distribution of primary interviews is as follows: By Company: Tier 1 - 24%, Tier 2 - 41%, and Tier 3 - 35% By Designation: Director level - 38%, C level - 48%, and Others - 14% By Region: North America – 13%, Europe - 26%, Asia-Pacific - 52%, and RoW - 9%
The various suppliers of modacrylic fiber and related products in the report are as follows: Kaneka Corporation (Japan) Fushun Rayva Fibre Co., Ltd. (China) Formosa Chemicals & Fibre Corporation (Taiwan) Tianjin GT New Material Technology Company Limited (China) Fushun Huifu Fire Resistant Fibre Company Limited (China) Zhangjiagang Hengfeng Textile Company Limited (China) Nantong Xufeng Textile Industrial Company Limited (China) Shanghai Changjie Textile Company Limited (China) Jiangsu Blue Peacock Chemical Fibre Co., Ltd. (China) Zhejiang Wangzhuo Knitting Co., Ltd. (China)
RESEARCH COVERAGE This report segments the market for modacrylic fiber into application and region, and provides the estimations for the overall value of the market and the subsegments across various regions. A detailed analysis of the key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product & technology launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the market for modacrylic fiber.
REASONS TO BUY THE REPORT: This report will help the leaders/new entrants in this market in the following ways: To analyze and have a better understanding of the market for modacrylic fiber To provide them information on key market drivers, restraints, challenges, and opportunities To gain more insights regarding their competitors and their positions in the market