The acrylic fibre industry size is poised to cross a valuation of US$ 5,470.6 million in 2023 and is predicted to hit a valuation of US$ 8,006.7 million by 2033. From 2023 to 2033, the acrylic fiber market is expected to grow at a CAGR of 4.2%.
Acrylic fibers are frequently used in the textile industry due to their softness, lightness, and great drape. They are commonly utilized to replace natural fibers such as wool because they give equal warmth and appeal at a cheaper cost. The increased demand for acrylic fibers in the textile industry has fuelled market growth.
Acrylic fibers can be easily blended with other fibers like cotton, wool, and polyester to increase their qualities and make them acceptable for a wide range of applications. Acrylic fibers are gaining popularity due to their ability to be adjusted to precise specifications for a wide range of end-use sectors, including garments, home textiles, upholstery, and industrial uses.
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The growing emphasis on health and fitness has raised demand for outdoor and sportswear. These applications benefit from acrylic fiber qualities like as breathability, fading resistance, and pilling resistance. Acrylic fibers are in high demand in this business as consumers seek more comfortable and long-lasting clothing.
The expansion of e-commerce platforms and online vendors has increased the global market for textile items. Customers can purchase a range of things, including those made from acrylic fibers, through online retail, increasing their visibility and sales and so supporting market growth.
Key Takeaways from Acrylic Fibre Market Report:
- In 2018, the global market size stood at US$ 4,696.1 million.
- The market expanded at a CAGR of 3.1% from 2018 to 2022.
- In 2022, the global market size stood at US$ 5,306.1 million.
- The filament segment captured 58.1% of global market shares in 2022.
- The apparel segment acquired 38.3% of global market shares in 2022.
- India captured 3.8% of global market shares in 2022.
- The United States captured 13.1% of global market shares in 2022.
- China captured 3.2% of global market shares in 2022.
- The United Kingdom captured 4.1% of global market shares in 2022.
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Recent Developments Observed by FMI:
- In March 2022, AKSA announced that by acquiring two new production lines, its annual production capacity would increase to 365 kilotons. With a US$ 24 million budget, the project is projected to be finished in 15 months.
- Thai Acrylic Fiber Co Ltd, a subsidiary of Aditya Birla Group, introduced “Regel” recycled acrylic fiber in 2022.
- In 2021, Oak Ridge National Laboratory scientists developed a cheap carbon fiber that might reduce the cost of wind turbine blades. Fibre is initially a readily accessible raw material with large bundles of acrylic fibers used in the textile industry. Any fibers in the material are turned into carbon when it is heated. Pultrusion, a procedure similar to extrusion where the material is dragged through a die instead of being pushed through, transforms the fibers into planks.
Top Key Player in the Global Industry
- Aksa Akrilik Kimya Sanayii A.
- Dralom
- Aditya Birla Group
- Jilin Chemical Fiber Company
- TAEKWANG INDUSTRIAL CO. LTD.
- Exlan Japan Co. Ltd.
- Kaneka Corporation
- Indian Acrylics Limited
- Pasupati Acrylon Ltd.
- Vardhman Acrylics Ltd.
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Key Segmentation
By Fiber Form:
- Staple
- Filament
By Dyeing Method:
- Acid
- Gel
- Undyed
By End Use:
- Apparels
- Home Furnishing
- Industrial
- Outdoor
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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