Market Insights & Analysis: Acrylic Fiber Market (2024-30)
Projected Growth: The Global Acrylic Fiber Market size is estimated at around USD 2.65 billion in 2024 & is expected to grow at a CAGR of around 3.5% during the forecast period, i.e., 2024-30.
In-Depth Overview of the Acrylic Fiber Market
Utilizing both primary and secondary research methodologies, the Acrylic Fiber Market report offers an in-depth analysis valuable for stakeholders and investors seeking market insights. This report delves into market dynamics, providing a detailed examination of regional trends and developments.
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Global Acrylic Fiber Market Driver: Flourishing Apparel Industry to Augment Market Growth
The apparel industry across the world is being fueled by various factors, such as fast fashion and fluctuating financial situations. The consumption of clothing in emerging economies has increased rapidly due to a surge in GDP growth, especially observed in developing countries like China and India, which are investing heavily in their markets. Government schemes for textile manufacturing, like production-linked incentives, have been implemented by nations including India, which help boost manufacturing capabilities.
In 2022, Chinese textile companies had an incredible increase in profits of 25.5%, while also breaking records with garment exports valued at USD 315 billion. Thus enhancing its potential market value even further. The global apparel sector shows continued positive incremental growth projections where levels will hit peak values exceeding the USD 2.9 trillion mark, expanding up to rates of around 3-8% annually in the coming years. Therefore, the growing apparel industry leads to a higher demand for acrylic fiber.
Acrylic Fiber Market Segmentation
By Form
-Continuous/Filament(Tow) Fiber
-Non-continuous/Staple Fiber
By Blend
-Acrylic-Wool
-Acrylic-Viscose
-Acrylic-Nylon
-Acrylic-Cotton
-Others (Cellulose, Rayon, etc.)
- The acrylic-wood blend segment dominates the acrylic fiber industry, holding the largest market share.
By End-Use Industry
-Textiles & Apparel
-Furniture & Upholstery
-Industrial
-Building & Construction
-Automotive
-Others
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Leading Companies in the Acrylic Fiber Market
The report features major players including:
Reliance Industries Limited (RIL), Thai Acrylic Fiber Co. Ltd. (TAF), Aditya Birla Management Corporation Pvt. Ltd., Aksa Akrilik Kimya Sanayii AŞ, China Petrochemical Corporation, Dralon, Formosa Plastics Corporation, Goonvean Fibres, Japan Exlan Co. Ltd., Jiangsu Zhongxin Resources Group, Jilin Chemical Fiber Group Co. Ltd., Kaltex, Mitsubishi Chemical Corporation, Pasupati Acrylon Ltd., Polyacryl Iran Corp., and others
Regional Analysis
The report covers a comprehensive analysis of the Acrylic Fiber Market across various regions:
- North America: The US, Canada, Mexico
- South America: Brazil, Argentina, Rest of South America
- Europe: Germany, The UK, France, Italy, Spain, Rest of Europe
- Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
- Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa
The research highlights development opportunities and challenges in these regions, encompassing sales growth, product pricing and analysis, growth potential, and strategic recommendations for addressing market challenges.
Essential Questions Addressed in the Acrylic Fiber Market Report
- Who are the major players in the Acrylic Fiber Market?
- Which region presents the most potential for the Acrylic Fiber Market?
- Which application area of the Acrylic Fiber Market is anticipated to grow significantly in the coming years?
- What opportunities exist for new market entrants?
- What is the projected market size for the Acrylic Fiber Market by the end of the forecast period?
- What are the growth prospects for the Acrylic Fiber Market?
- What is the base year considered in this market report?
- Which region holds the largest market share in the Acrylic Fiber Market?
- What factors are expected to drive the growth of the Acrylic Fiber Market?
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