How Big is the Acrylic Fiber Market Market?
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. The acrylic fiber industry is experiencing substantial growth & expansion driven by increasing demands within the textiles and apparel industries and the rising adoption of sustainable production methods utilizing innovative technology. The acrylic fiber offers better washability, UV resistance, and microbial attack resistance. Additionally, these fibers are available in various colors and provide resistance to shrinkage, unlike cotton and other natural fibers. According to the research conducted by academic institutes, the acrylic fibers shirk only 1.5% when treated with boiling water for 30 minutes. Owing to these unique attributes of the fibers, the top apparel companies are using acrylic fibers to make different clothing, fueling the Global Acrylic Fiber Market growth.
Market Statistics
- Market Size in 2024: USD 2.65 billion
- Market Growth Rate (CAGR): 3.5% from 2024-2030
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Acrylic Fiber Market Market Insight:
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 Market Segmentation:
The report has segmented the market into the following categories:
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
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Competitive Landscape:
- 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.
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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