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.
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The Global Acrylic Fiber has seen a steady growth over the past year and it is expected to see the similar growth in next coming years. The factors that has influenced the global market are; growing demand of Apparel with changing climatic conditions and changing demographics, increasing standard of living with modern trends in household furnishing is expected to lead the market growth. Thus, with fluctuation in raw material prices has affected the profit margin and growing environmental concerns and increasing energy prices has hampered the market growth. Moreover, owing to high competition of substitute products like polyester, acrylic fiber market is affected and these can be seen in terms of volume. The opportunities for acrylic fiber producers are expanding more into capacity because to sustain in market by developing the products through R&D and maintaining the less environmental effect through technological innovations. However, the major producers are focusing into value added products in order to maintain market share.
Geographically, Asia Pacific region is the largest market of Acrylic Fiber due to growing acrylic fiber manufacturers because of less legislations by environmental regulation bodies. Apparel industry is dominating segment in China, Indonesia, Japan and others. With rapid urbanization and changing lifestyle of consumer along with increase in household spending especially in domestic market is expected to drive the market growth in developing regions.
China is dominating segment with over more than 50% market share although the world largest producer, AKSA is based in Turkey. However, in spite China being largest capacity holder, it is self-insufficient of acrylic fiber supply and imports more than 15% of acrylic fiber in order to meet the demand. With increasing presence of producers coupled with cheap labour cost is driving the acrylic fiber market in developing regions. Furthermore, the second largest market of Acrylic Fiber is Middle East & Africa region owing to presence of acrylonitrile raw material producers. Europe region is having few producers which focuses on other applications more than acrylic fiber owing to cost advantage in fiber like polyester. However the consumption of Acrylic Fiber is comparatively less in the North America and Latin America.
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The Global Acrylic Fiber Market is majorly segmented on the basis of form, blending, end use and region. On Basis of form, Global Acrylic Fiber Market is segmented into staple and filament. Based on blending, acrylic fiber market is segmented into wool, cotton and others. Based on end use, acrylic fiber is segmented into apparel, household furnishing, industrial and others. Based on region market is divided into North America, Europe, APAC, Latin America, Middle East & Africa.
Key players of the Global Acrylic Fiber Market are AKSA Akrilik Kimya Sanayii A.S, Dralon, JILIN QIFENG CHEMICAL FIBER CO., LTD, Thai Acrylic Fiber Co. Ltd, Kaltex, Indian Acrylics Limited and Pasupati Acrylon Limited among others.
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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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