Synopsis of Acrylic Fiber Market:
The Global Acrylic Fiber Market is expected to witness a significant growth by 2022 with CAGR of ~1.38% between 2016 and 2022.
Acrylic Fiber is fiber forming substance that can be long chain synthetic polymer which contains at least 85% by weight of acrylonitrile monomer. Acrylic Fiber resembles to wool in its character but has advantages over wool such as good drying capacity, high moisture management, resistance to moths and chemical substances, and good resiliency among other properties. Acrylic Fiber is produced by two different methods i.e. wet and dry spinning method. The most comonomers employed in manufacturing are methyl acrylate and vinyl acetate along with some percent of ionogenic comonomers such as sodium itaconate. These comonomers helps to improve the dye ability, fiber flexibility and textile process ability in acrylic fiber.
The Global Acrylic Fiber Market has been segmented into forms, blending and end use. On the basis of forms, the market has been divided into staple and filament.
Staple has occupied the largest share among the segment in 2016, with 75% market share. There are two methods through which acrylic fiber are produced viz., dry spinning and wet spinning. Acrylic staple fiber produced from dry spinning method has advantages such as dimensional stability and discrete length. Acrylic staple fiber is widely used in various applications such as sweaters, socks, carpets etc. On the other hand filament fiber refers to long continuous fiber, called as tow. Owing to continuous extrusion of fiber, tow acrylic fiber is used in manufacturing of blankets, gloves, stockings, wool fabrics etc.
According to blending segment, Acrylic Fiber is segmented into wool, cotton and others. To enhance the ability of resulting fiber to absorb dyes, acrylic fiber is mixed with other blending materials viz., cotton and wool. Wool is dominating segment throughout the forecasted period expanding at CAGR of 1.43%. When acrylic fiber is blended with wool, it creates non-itchy, more affordable and comfortable fabric. Cotton are blended with natural or synthetic fibers to produce superior properties in order to contribute softness, warmness and durability to be name some. Asia Pacific accounts for largest market share of 53% in cotton segment as availability of cotton and prices of same depends on favorable climatic conditions.
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Based on end use, apparel segment is dominating segment followed by household furnishing and industrial segment. Changing lifestyle, increase in standard of living and changing climatic conditions are the factors driving the apparel industry? Major players in acrylic fiber are in to development of value added products in application segment in order to increase their market share in acrylic fiber market. Development such as Eco-Fur which replace animal fur, substituting asbestos fiber for industrial application with special fibrillated acrylic fiber and anti-pilling fiber which ensures no pilling after repeated washing are some of the developments that are increasing the competition among players. The apparel industry of acrylic fiber includes sweaters, socks, fleece wear, children wear, sportswear and circular knit apparel among others. With rise in per capita income and ongoing development in interior and furniture industry are some affluent factors might increase the consumption of acrylic fiber in household industry.
The global Acrylic Fiber market, by geography, has been segmented into North America, Europe, APAC, Middle East & Africa and Latin America region. In the global Acrylic Fiber market, Asia Pacific is expected to witness relatively faster growth as compared with other regions on account of increasing apparel and household furnishing applications.
Within Asia Pacific region includes the countries namely India, China, Japan and rest of Asia Pacific, China and India stimulate the demand of acrylic fiber in near future. Emerging markets are facing high pressure on production due to increasing raw materials prices as acrylonitrile (ACN) is crude oil derivative faces fluctuation in prices. Hence, companies into manufacturing are expanding into value added products to maintain their market share. Moreover, in coming years with increase in new production plants of ACN in emerging markets can lower down the raw material prices and increase the demand of acrylic fiber. China is imposing anti-dumping duties on imported acrylic fiber from Japan, South Korea and Turkey in order to improve the conditions of acrylic fiber business in domestic market. Other Asian countries are projecting highest growth except Taiwan and South Korea which post less cost-competitive compared with China.
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Acrylic Fiber demand in Asia Pacific is expected to grow steadily with rapid development of end user industries such as apparel and household furnishing and accounted for 50% of global demand. North America witnessed as sluggish growth owing to high environmental regulations, high energy cost which even led to shutdown of plants in few parts of North America. However, North America occupies a relatively smaller pie of the global acrylic fiber market. With micro-economic development of end user industries along with regional GDP growth and changing consumer preferences with growing population, the demand of acrylic fiber is expected to increase in Middle East & Africa. Within Middle East and Africa countries including UAE, South Africa and Saudi are driving the growth market. AKSA is largest producer of acrylic fiber, based in Turkey, and is also contributing to global demand of acrylic fiber with around 17% market share.
Key Points from Table of Content:
10 Company Profile
10.1 AKSA Akrilik Kimya Sanayii A.S. (Turkey)
10.1.1 Company Overview
10.1.2 Product/Business Segement Overview
10.1.3 Financial Updates
10.1.4 Key Developments
10.2 Dralon (Germany)
10.2.1 Company Overview
10.2.2 Product/Business Segment Overview
10.2.3 Financial Updates
10.2.4 Key Developments
10.3 JILIN QIFENG CHEMICAL FIBER CO., LTD. (China)
10.3.1 Company Overview
10.3.2 Product/Business Segment Overview
10.3.3 Financial Updates
10.3.4 Key Developments
10.4 Thai Acrylic Fiber Co. Ltd (Thailand) (Aditya Birla Group, India)
10.4.1 Company Overview
10.4.2 Product/Business Segment Overview
10.4.3 Financial Updates
10.4.4 Key Developments
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