Key Market Overview:
Acrylic fibers market size was estimated at USD 5.2 Billion in 2021 and is projected to register a CAGR of 3.8% during the forecast period (2022-2030), to reach around USD 7.27 Billion by 2030.
The increased demand for acrylic fibers for the production of hand-knitted yarns, rugs, upholsteries, and apparel is anticipated to positively drive the industry growth due to the augmented usage of fibers as the precursor for manufacturing affordable and durable fabrics. For instance, as per the economic data released by the U.S. Bureau of Labor Statistics, the retail sales of apparel and clothing stores reached over USD 26,396 million in September 2022. Thus, the rising consumer demand in terms of the favorable shift towards evolving apparel industry is anticipated to boost the market growth during the forecast period.
Additionally, the rising usage of acrylic fibers in the upholsteries of home furnishings is also anticipated to contribute to the overall market growth during the projected period. For instance, as per the data released by Statista.com, the total furnishing stores generated revenue of around USD 116.5 billion in 2018. Thus, the increased adoption of acrylic fibers as outdoor furnishing upholstery fabric is estimated to enhance industry growth. In the context of the region, Asia Pacific is expected to contribute a significant share to the growth of the acrylic fibers market. The growing large presence of apparel and furnishing retail networks specifically in China and India coupled with the growing customer preference towards evolving fashion industry due to rising disposable income is projected to accelerate the market growth in the Asia Pacific region.
Market Dynamics:
Acrylic fibers are referred to as flexible and soft polymers used for the production of lightweight and quality yarns. Such properties closely resemble those of wool, and hence the most common use of acrylics in apparel and carpets is as a wool replacement—for example, in knitwear such as sweaters and socks. Acrylic fibers are also used as precursors for the production of carbon and graphite fibers, as replacements for asbestos in cement, and in industrial filters and battery separators.
Driver:
The large demand for acrylic fibers in the apparels industry due to the properties such as large availability in vibrant colors, subdued tones, and multi-color dyes coupled with the surging sales of clothes is the major driving factor that fuels the growth of the acrylic fibers market statistics during the forecast period. Furthermore, the surging fashion trends among the population also accelerate the market growth during the forecast period owing to the rising disposable income and large penetration of e-commerce.
Restraint:
The high costs of acrylic fiber restrict market growth owing to the fluctuations in the prices of raw materials such as acrylonitrile, DMF, comonomers, and additives. Additionally, the easy availability of alternatives such as polyester, polyamide, nylon, and polypropylene and stringent regulations in the production of acrylic fibers due to the potential health risks such as the cyanide poisoning caused due to the inhalation of polyacrylonitrile also hamper the industry growth during the forecast period.
Opportunity:
The rising expenditures by major market players to support the surging demand for apparel among the population is anticipated to create lucrative opportunities for the market growth owing to the augmentation of global production capacities. Also, the scope of fostering technological innovations in the sustainable production of the fibers is estimated to create profitable opportunities for the firms to explore the untapped areas in terms of the advancements such as flame-retardant, weather-resistant, and anti-microbial acrylic fiber.
COVID-19 Impact:
The acrylic fibers market has been severely impacted during the initial phases of the COVID-19 pandemic in multiple regions around the world. The factors such as reduced manufacturing operations due to disrupted supply chains of the raw materials, coupled with the strict government restrictions in logistics led to the economic slowdown specifically in the initial phases of COVID-19 hampered the market growth. However, the situation has stabilized and as a result, it is evaluated that the overall impact of COVID-19 on the industry is moderate. Post-COVID-19, the market growth experienced a positive shift due to the increased emphasis on business expansions especially in the textile and apparel industry in India and China.
Acrylic Fibers Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 7.27 Billion |
| CAGR (2022-2030) | 3.8% |
| By Form | Staple, and Filament |
| By Blending | Wool, Cotton, and Others (Cellulose) |
| By Application | Apparel, Industrial, Household Furnishing, Other Applications (Upholstery) |
| By Geography | North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) Middle East and Africa- (GCC, Turkey, Israel, and the Rest of MEA) |
| Key Players | Aditya Birla Group, Toray Industries Ltd., Aksa Akrilik Kimya Sanayii A., Indian Acrylics Limited, Vardhman Acrylics Ltd., Dralon, Jilin Chemical Fiber Company, TAEKWANG INDUSTRIAL CO., LTD, Exlan Japan Co., Ltd., Kaneka Corporation, Pasupati Acrylon Ltd. |
Market Segmentation:
By Form
The form segment is bifurcated into staple and filament. The staple segment is expected to contribute the largest market share of over 45.6% during the forecast period. The factors such as the surging usage of staple acrylic fibers in an assorted range of clothing and textiles due to the properties such as high resistance to the prolonged UV and chemical exposure, coupled with the increased usage in non-clothing applications such as blankets and carpets due to the similar warm and soft texture as the wool and cashmere is estimated to support the growth of staple segment during the projected period. Furthermore, the filament segment is also projected to register the fastest CAGR growth during the forecast period owing to the medium to fine range of the fabric for the production of yarns used in hosiery, sportswear, shirts, trousers, bed linen, and others, and properties such as high tensile strength, lustrous appearance, and creation of continuous, long yarns.
By Blending
The blending segment is divided into wool, cotton, and others. The wool segment is expected to contribute the largest revenue share of over USD 2.3 billion to the industry growth. The factors such as the high compatibility of the woolen fiber for production of the apparel like roller brushes, area rugs, boots, sweaters, protective clothing, gloves, and others, increased blending capability as 45% acrylic fiber and 55% wool used in making the circular knit goods due to the properties like hypoallergenic, lightweight, and easy maintenance are projected to support the growth of the wool segment. Additionally, the cotton segment is also anticipated to witness the fastest CAGR growth during the forecast period owing to the factors such as the high reliability of cotton acrylic fiber blends for the production of yarns that are resistant to abrasive environments combined with the moth-repellant properties and high usage in the industrial applications such as bookbinders, bandages, coffee filters, and others.
By Application
The application segment is separated into apparel, industrial, household furnishing, and other applications (upholstery). The apparel segment is estimated to contribute the largest share to the industry growth during the forecast period. The factors such as the high demand for acrylic fibers for the production of highly durable fabrics due to the high stability of bleaching agents and increased customer preference for the evolving fashion trends and rising standards of living among the population are expected to support the growth of the apparel segment. Furthermore, the household furnishing segment is also anticipated to contribute a significant share to the acrylic fibers market statistics owing to the high demand for acrylics for providing a modern look to the furnishings in terms of vibrant colors and durability as compared to other materials, increased need for anti-microbial fabrics made of acrylic fibers due to the non-toxic nature of the material and easy maintenance aspect of the furnishings in terms of effective removal of stubborn stains and spills from the fabric caused due to the colorants like juice, sauce, and others.
By Region
The regional segment comprises of Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa. Asia Pacific is anticipated to contribute the largest share of over 52.1% during the projected period. The factors such as the established apparel and textile industry especially in India and China, rising purchasing power among the population combined with the surging development of the online fashion market, and favorable expenditures from major market players in terms of research and development of innovative apparel products are estimated to fuel the growth of the acrylic fibers industry in the Asia Pacific region.
North America is also expected to account for the fastest CAGR growth during the forecast period owing to the factors such as the high disposable income among the population, rising standards of living of the population, and the surging popularity of rugged and modern fashion trends specifically among the millennial generation is anticipated to accelerate the presence of acrylic fibers industry in the North American region.
Acrylic Fibers Market Competitive Landscape:
The market competitive landscape and detailed company profiles have been analyzed in the report to provide an evaluation of the major players operating in the industry. Additionally, technological advancements, emphasis on business expansions through multiple business strategies, and surging expenditures on Research and Development (R&D) has accelerated the growth of the concerned market in the case of the main firms present in the market. The key players functioning in the market include-
- Aditya Birla Group
- Toray Industries Ltd.
- Aksa Akrilik Kimya Sanayii A.
- Indian Acrylics Limited
- Vardhman Acrylics Ltd.
- Dralon
- Jilin Chemical Fiber Company
- TAEKWANG INDUSTRIAL CO., LTD
- Exlan Japan Co., Ltd.
- Kaneka Corporation
- Pasupati Acrylon Ltd.
FAQ
What is the size of Acrylic Fibers Market ?
Acrylic Fibers Market size is worth USD 4,751.7 Million by 2028.
Who are the important key players operating in this industry?
Aditya Birla Group, Vardhaman Acrylics, Mitsubishi Rayon Group, Indian Acrylics Limited, Pasupati Acrylon are the major players operating in this industry.
Which region dominated growth of market during the forecast period?
Asia-Pacific contributed the largest share of the market growth.
Which is the foremost type segment in this market?
Wet Spinning are anticipated to contribute the largest share to the type segment.
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Acrylic Fibers
- Global Acrylic Fibers Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Acrylic Fibers Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- Average primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Distribution Channel
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Technology Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Acrylic Fibers demand
- Post-Covid Impact on Acrylic Fibers Market Demand
- Impact Analysis of the Russia-Ukraine Conflict
- Drivers
- Global Acrylic Fibers Market Segmentation, by Volume (Kilotons) & Revenue (USD Billion), (2022-2030)
- By Form
- Staple
- Filament
- By Blending
- Wool
- Cotton
- Others (Cellulose)
- By Application
- Apparel
- Industrial
- Household Furnishing
- Other Applications (Upholstery)
- By Form
- Global Acrylic Fibers Market Overview, By Region
- North America Acrylic Fibers Market Volume (Kilotons) & Revenue (USD Billion), by Countries, (2022-2030)
- US
- By Form
- By Blending
- By Application
- Canada
- Mexico
- US
- Europe Acrylic Fibers Market Volume (Kilotons) & Revenue (USD Billion), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Acrylic Fibers Market Volume (Kilotons) & Revenue (USD Billion), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Acrylic Fibers Market Volume (Kilotons) & Revenue (USD Billion), by Countries, (2022-2030)
- Latin America Acrylic Fibers Market Volume (Kilotons) & Revenue (USD Billion), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- Middle East and Africa Acrylic Fibers Market Volume (Kilotons) & Revenue (USD Billion), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Acrylic Fibers Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Billion and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- Aditya Birla Group
- Business Overview
- Business Financials (USD Billion)
- Product Category, Type, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- Toray Industries Ltd.
- Aksa Akrilik Kimya Sanayii A.
- Indian Acrylics Limited
- Vardhman Acrylics Ltd.
- Dralon
- Jilin Chemical Fiber Company
- TAEKWANG INDUSTRIAL CO., LTD
- Exlan Japan Co., Ltd.
- Kaneka Corporation
- Pasupati Acrylon Ltd.
- Aditya Birla Group
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.