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Acrylic Fiber Market - Segmented by Form, Blending, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Acrylic Fiber Market - Segmented by Form, Blending, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

In 2017, the global acrylic fiber market accounted for a value of about USD 4,929.4 million. The market is expected to register a CAGR of about 1.94% during 2018-2023 (the forecast period). The apparel segment of the market is dominating the global acrylic fiber market, with nearly 79.8% of the overall share. The industrial segment of the market is likely to register the fastest CAGR during the forecast period.

High Demand for use in Apparels

Due to its moisture transportation and wicking capabilities, acrylic fiber provides a quality of comfort, which makes it a viable choice to be used in apparels. The global acrylic fiber market is dominated by the apparels industry.

Rising disposable income and decreased apparel cost, coupled with innovative sales techniques and strategies by marketers, are likely to propel the clothing industry in the coming years. Continuously evolving fashion trends in the apparel industry has helped apparel manufacturers, from various regions, to flourish with the parallel waves. This has made Asia-Pacific an emerging and leading exporter for clothing and textile as a whole; whereas China, the United States, Germany, Japan, and the United Kingdom were the largest retail markets for apparel manufacturers.

Asia-Pacific Dominates the Market

Asia-Pacific occupied the highest market share, accounting for around 55% of the global market in 2017. The Asia-Pacific market is highly driven by the apparel & clothing industry demand in the emerging markets, such as China, India, South Korea, Thailand, and Indonesia, among others. Owing to the notable economic development of various countries in the region and rise in per capita disposable income is anticipated to replicate the similar trend over the next five years as well. South America is the fastest growing region for acrylic fiber, which portrays huge potential for growth in the future, owing to the foothold of the major South American countries in the global textile & fashion apparel industry.

China is the Largest Producer

China is the largest producer of acrylic fiber, globally. The country holds approximately 30% share in the global market for acrylic fiber production. A significant boost in the demand for textile & apparels in domestic as well as in the international markets, such as ASEAN, Europe, the United States, and Japan, is playing a vital role in propelling the demand for acrylic fiber in the country. Increasing staple fiber demand coming from India is encouraging China to take definitive measures to improve the production of acrylic fiber.

Key Developments in the Market

- July 2017 - Dralon GmbH entered an agreement with Enzymicals AG, for a joint FNR-funded research project to produce polyacrylonitrile biocatalitically, so as to reduce CO2 footprint.
- June 2017 - DowAksa, a 50/50 joint venture between The Dow Chemical Company and Aksa Akrilik Kimya Sanayii AS, signed an agreement with Vestas Wind Systems AS, the largest consumer of carbon fiber and the largest supplier of wind turbines.

Major Players - Aksa, Montefibre+ jilin, Dralon, Aditya Birla group, and Shanghai Petroleum, among others.

Reasons to Purchase the Report

- Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
- Various market perspectives, with the help of Porter’s five forces analysis
- Regions or countries that are expected to witness the fastest growth rates during the forecast period
- Product segment, which is going to dominate the market over the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
- 3 months analyst support along with the Market Estimation sheet (in Excel)

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1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summery
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technological Snapshot
3.3.1 Production Process
4. Market Dynamics
4.1 Drivers
4.1.1 Demand in Blending Applications
4.1.2 High Demand for Use in Apparels
4.1.3 Weak Supply of Competitors, such as Wool and Cotton
4.2 Restraints
4.2.1 Availability of Substitutes, like Polyester
4.2.2 Stringent Regulations Worldwide on the Production of Acrylic Fiber
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Form
5.1.1 Staple
5.1.2 Filament
5.2 By Blending
5.2.1 Wool
5.2.2 Cotton
5.2.3 Others
5.3 By Application
5.3.1 Apparel
5.3.2 Household Furnishing
5.3.3 Industrial
5.3.4 Others (Outdoor)
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Russia
6.3.6 Spain
6.3.7 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Product & Services, and Recent Developments)
9.1 Major Players
9.1.1 Aditya Birla Management Corporation Pvt. Ltd.
9.1.2 Aksa Akrilik Kimya Sanayii A.Ş.
9.1.3 Dralon
9.1.4 Jilin Chemical Fiber Group Co., Ltd.
9.1.5 Montefibre S.p.A.
9.1.6 SINOPEC Shanghai Petrochemical Co., Ltd.
9.2 Other Prominent Players
9.2.1 CNPC
9.2.2 DOLAN GmbH
9.2.3 Exlan Japan Co. Ltd
9.2.4 Formosa Plastics Group
9.2.5 Grupo Kaltex S.A. de C.V.
9.2.6 Indian Acrylics Limited
9.2.7 Kaneka Corporation
9.2.8 Mitsubishi Chemical Corporation
9.2.9 Pasupati Acrylon Ltd.
9.2.11 Tong Hwa Synthetic Co., Ltd
*List not exhaustive
10. Disclaimer
**Subject to availability on public domain

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