Acrylic Fibers Market Revenues to Reach USD 2.43 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Acrylic Fibers Market Report (2023-2028),” the market is estimated at USD 2.73 billion in 2023. It is expected to register a CAGR of -2.30% during the forecast period.

In 2021, the market was negatively impacted by COVID-19 since the pandemic resulted in the stoppage of businesses, products, and manufacturing facilities, resulting in less economic activity. As of now, the major factor driving the acrylic fiber market includes the elevated demand for the use of apparel. The Asia-Pacific region dominates the market due to high demand from the ASEAN countries.

Report Summary:

Who are the Top Companies in the Acrylic Fibers Market?

The acrylic fiber market is consolidated in nature.

The significant players holding the acrylic fiber market are:

• Aditya Birla Management Corporation Pvt. Ltd
• Aksa Akrilik Kimya Sanayii AŞ
• China Petrochemical Corporation
• Dralon
• FORMOSA PLASTIICS CORPORATIION
• Goonvean Fibres
• Indian Acrylics Limited
• Japan Exlan Co. Ltd
• Jiangsu Zhongxin Resources Group
• Jilin Chemical Fiber Group Co. Ltd
• Kaltex
• KANEKA CORPORATION
• Mitsubishi Chemical Corporation
• Pasupati Acrylon Ltd
• PetroChina Company Limited
• Polyacryl Iran Corp.
• Polymir
• SDF
• SGL Carbon
• Taekwang Industrial Co. Ltd
• TORAY INDUSTRIES INC.
• Vardhman Acrylics Ltd
• Yousuf Dewan Companies

Other Reports That Might Be of Your Interest:

• Acrylic Acid Market Report - The acrylic acid market size is expected to grow from 7,394.77 kilotons in 2023 to 9,523.51 kilotons by 2028 at a CAGR of 5.19% during the forecast period (2023-2028).
• Acrylic Emulsions Market Report  - The market for acrylic emulsions is expected to register at a CAGR of over 5% during the forecast period.

Key Highlights from the Acrylic Fibers Market Report:

      Soaring Demand from the Wool Segment

• Wool has remarkable properties, viz., resistance to wrinkles, moisture absorption, and warmth. A significant feature of wool is its ability to recover from deformation over time. Hence, clothing made from these fibers is attractive.
• Woven or knitted fabrics with 100% wool fiber have become a standard in apparel such as sweaters, hoodies, boots, boot lining, hats, gloves, athletic wear, carpeting, blankets, roller brushes, upholstery, area rugs, protective clothing, wigs, and hair extensions.

China to Hold a Major Share

• China is the biggest producer of acrylic fibers worldwide, accounting for over 30% of the global acrylic fiber production. Due to the demand from domestic and international markets, the textile industry in China has expanded over the years.
• Iran, India, Vietnam, Pakistan, and the United Arab Emirates are some of the largest markets China exports its acrylic fibers to. It also imports acrylic fiber from Japan, Germany, Thailand, South Korea, and Turkey.

What are the Latest Developments in the Acrylic Fibers Market?  

• In March 2022, AKSA announced increasing its production capacity from 330 kilotons/year to 365 kilotons/year by investing in 2 new production lines. The project, budgeted at USD 24 million, is planned to be commissioned in 15 months.
• In January 2021, Thai Acrylic Fibre Co. Ltd (TAF) became Bluesign’s system partner. TAF went elaborate screening process by Bluesign in 2020 involving input stream management, environment management, OHS, product stewardship, legal and social compliance, etc.

Mordor Intelligence has Segmented the Acrylic Fibers Market Based on Type, Blending, Application, and Geography:

• By Type
  • Staple
  • Filament
• By Blending
  • Wool
  • Cotton
  • Other Blendings (Cellulose)
• By Application
  • Apparel
  • Household Furnishing
  • Industrial
  • Other Applications (Upholstery)
• By Geography
  • North America  
    • United States 
    • Canada 
    • Mexico
  • Europe 
    • United Kingdom 
    • Germany 
    • France 
    • Italy
    • Turkey
    • Rest of Europe 
  • Asia-Pacific 
    • China 
    • India 
    • Japan
    • South Korea
    • ASEAN Countries 
    • Rest of Asia-Pacific 
  • South America 
    • Brazil 
    • Argentina 
    • Rest of South America 
  • Middle East & Africa 
    • South Africa 
    • Saudi Arabia
    • Rest of Middle East & Africa 

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Acrylic Fibers Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Modacrylic Fiber Market Report - The modacrylic fiber market size is estimated at USD 541.01 million in 2023 and is expected to reach USD 643.79 million by 2028 at a CAGR of 3.54% during the forecast period (2023-2028).
• Solid Grade Thermoplastic Acrylic (Beads) Resin Market Report   – The solid grade thermoplastic acrylic (beads) resin market size is expected to grow from USD 1,409.23 million in 2023 to USD 2,049.62 million by 2028, at a CAGR of 7.78% during the forecast period (2023-2028).
• Polyacrylic Acid Market Report    - The polyacrylic acid market is expected to register a CAGR of over 5% during the forecast period.

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

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• Acrylic Fibers Market - Mordor Intelligence