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.
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.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Acrylic Fiber Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Form
- Continuous/Filament(Tow) Fiber- Market Size & Forecast 2019-2030, (Thousand Tons)
- Non-continuous/Staple Fiber- Market Size & Forecast 2019-2030, (Thousand Tons)
- By Blend
- Acrylic-Wool- Market Size & Forecast 2019-2030, (Thousand Tons)
- Acrylic-Viscose- Market Size & Forecast 2019-2030, (Thousand Tons)
- Acrylic-Nylon- Market Size & Forecast 2019-2030, (Thousand Tons)
- Acrylic-Cotton- Market Size & Forecast 2019-2030, (Thousand Tons)
- Others (Cellulose, Rayon, etc.)- Market Size & Forecast 2019-2030, (Thousand Tons)
- By End-Use Industry
- Textiles & Apparel- Market Size & Forecast 2019-2030, (Thousand Tons)
- Furniture & Upholstery- Market Size & Forecast 2019-2030, (Thousand Tons)
- Industrial- Market Size & Forecast 2019-2030, (Thousand Tons)
- Building & Construction- Market Size & Forecast 2019-2030, (Thousand Tons)
- Automotive- Market Size & Forecast 2019-2030, (Thousand Tons)
- Others- Market Size & Forecast 2019-2030, (Thousand Tons)
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Reliance Industries Limited (RIL), Thai Acrylic Fiber Co. Ltd. (TAF), Aditya Birla Management Corporation Pvt. Ltd., Aksa Akrilik Kimya Sanayii A?, 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
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