Global Acrylic Fiber Market - Size, Share and Forecast (2017 - 2022)
The global acrylic fiber market is driven by the growing demand for acrylic fibers in blending applications. Acrylic fiber is a substance that can be a long chain synthetic polymer containing at least 85% of acrylonitrile monomer. Fabrics produced from acrylic yarns are lightweight, resilient, and have warmth and softness similar to wool. Moreover, they have excellent resistance to ultraviolet degradation, microbiological attack, weak alkalis, and laundry bleach.
The major driving factor for the acrylic fiber market is high demand in blending applications, where acrylic fiber is mixed with various materials, like wool and cotton, to enhance the physical and chemical characteristics of the final output. Another important driver for this market is the application of acrylic fibers in apparels, as these fibers possess an aesthetic appeal enhanced by the ability to accept dyes of, both, clear, bright colors and subdued, muted tones. Further, the market is boosted by the use of acrylic fiber in manufacturing outdoor furniture, boat covers, awnings, carpets, etc. This market enjoys advantages due to the weak supply of its competitors, like cotton and wool. Acrylic fiber market is segmented on the basis of form, blending, and application type. Based on form, staple fiber segment occupied the largest market share. On the basis of application type, apparels segment held the highest market share.
The major challenge for the global acrylic fiber market is the availability of substitutes, like polyesters, that are cheaper than acrylic fibers. The stringent environmental regulations, across the world, especially in Europe and North America, regarding the production of acrylic fibers, have negatively impacted the market growth.
Areas with Scope for Acrylic Fiber Market
Geographically, Asia-Pacific occupied the largest share in acrylic fiber market, followed by the Middle East & Africa, owing to the increasing number of acrylic fiber manufacturers because of legislations by environmental regulatory bodies. China consists of the highest share in the global market. Growth in the acrylic fiber consumption rate is expected to be witnessed mainly in India and other Asian countries, such as, Vietnam, Pakistan, and Bangladesh. Moreover, these countries make up the manufacturing base for apparels and the fiber consumption per head is low.Notable Developments in the Market
In April 2017, INEOS acquired Arkema’s Oxo Alcohol business, which included the acquisition of Arkema’s stake in Oxochimie producing oxo alcohols (butanol and 2-ethyl hexanol).
In April 2017, Aditya Birla Nuvo Limited and Aditya Birla Financial Services Limited approved the Scheme of amalgamation of ABNL with Grasim, the leading producer of acrylic fibers.
Why purchase the Global Acrylic Fiber Market Report?
Know about: the latest regulations & policies of acrylic fiber market.
Analyzing various market perspectives with the help of Porter’s five forces analysis.
Which segment of acrylic fiber, on the basis of form, blending, and application, is expected to dominate the market?
Which of the regions are expected to witness the fastest growth during the forecast period?
Identify the latest developments, market shares, and strategies employed by the major market players, such as:
Aksa Akrilik Kimya Sanayii A.S.
Aditya Birla Group
Jilin Chemical Fiber Group Company