2019 Acrylic Fiber Market Share, Size, Growth Rate by Market Current Strategy, Top Most Players, and Regional Segmentation by Forecast to 2024
Acrylic Fiber Marketreport consists of an extensive primary research, as well as an in-depth analysis of the qualitative and quantitative aspects by various industry specialists and professionals, to gain a deeper insight of the market and the overall landscape. Acrylic Fiber market also shows information of Product awareness, adept workforce, technological advancements, raw material affluence, favorable environment, and rapidly growing product demand are some factors that persistently boost the growth of the Acrylic Fiber market.
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Scope of the Report:
- This report studies the global Acrylic Fiber market size, industry status and forecast, competition landscape and growth opportunity.
Major Key Players:
- Aditya Birla Management Corporation Pvt Ltd
- Aksa Akrilik Kimya Sanayii AS
- Jilin Chemical Fiber Group Co. Ltd
- Montefibre SpA
- SINOPEC Shanghai Petrochemical Co. Ltd
- DOLAN GmbH
- Exlan Japan Co. Ltd
- Formosa Plastics Group
- Grupo Kaltex SA de CV
- Indian Acrylics Limited
- Kaneka Corporation
- Mitsubishi Chemical Corporation
- Pasupati Acrylon Ltd
- TAEKWANG INDUSTRIAL CO. LTD
- The market for acrylic fiber is expected to register a CAGR of 1.94% during the forecast period (2019-2024). The demand in blending applications and weak supply of substitutes, like wool and cotton, are the major factors driving the growth of the market studied. On the flipside, availability of cheaper substitutes, like polyester, is expected to hinder the market growth.
- - By form, the filament segment accounted for the largest market share in 2018, and is expected to grow during the forecast period.
- - Untapped potential in South Asia is likely to act as an opportunity in the future.
- - Asia-Pacific dominated the global acrylic fiber market in 2018, due to high demand from the ASEAN countries and India.
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Key Market Trends:
Demand in Blending Applications
- Acrylic fibers, when blended with other materials, help enhance the physical and chemical characteristics of the end product. For example, cotton-blended yarns and fabrics provide superior comfort, elasticity, warmth, enhanced luster, high uniformity, and have a soft feel to them. Furthermore, the stretch from the acrylic makes the yarn soft and easier to work with. Cotton and acrylics are generally blended in the proportions of 75/25, 60/40, or 50/50.
- Wool is another material that is blended with acrylics from time to time, as the resultant end product is always lightweight, possesses good resilience and elasticity.
- Demand for blended fabrics is increasing steadily, owing to its economical nature, when compared to pure materials, along with the added factor of value addition provided by the various bending materials.
- China, Turkey, and India are few of the countries that have acquired significant shares in the blended yarn segment. Turkey, which has one of the largest textile markets in the world, produces around 1 million metric ton of cotton yarn annually. In India, though the production of blended yarn declined for the first time, in 2017, in the past five years, the demand is still stable, which is expected to recover the production in the upcoming years.
- Such attributes are expected to drive the market for acrylic fibers in the blending application, throughout the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share in 2018. China is the largest producer of acrylic fibers across the world, accounting for a share of more than 30% of the global acrylic fiber production. Owing to the rising demand from domestic and international markets, primarily from ASEAN countries, Europe, the United States, and Japan, the textile industry in China is expanding at a healthy rate. This is one of the key factors boosting the demand for acrylic fibers in the region.
- The Indian textile industry is estimated to register a CAGR of 8.2% during the forecast period. The Government of India has announced to invest INR 690 crore (USD 106.58 million) for setting up 21 readymade garment manufacturing units, for the development and modernization of the Indian textile sector.
- The macro-economic condition of ASEAN countries is likely to project strong growth in the coming years. The region bounced back strongly in 2016, as the growth surpassed the past six-year’s record, owing to the fair boost in the economies of Malaysia, Singapore, and Vietnam in the last two quarters of 2016. The recent uptick in commodity prices has turned a favorable atmosphere for the regional exports.
- The textile and apparel industry is one of the major markets for acrylic fibers. The increasing investments in the Indonesian and Indian textile and apparel sectors are likely to boost the demand for acrylic fiber, in the manufacture of various apparels and household furnishing. This, coupled with plans of the textile industries in these countries to make agreements with the European Union, is likely to have a positive impact on the demand for acrylic fiber.
Most of the companies present in the market are efficient at the technological front, but require significant support for enhancing their services and expanding their businesses. Thus, mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.
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Acrylic Fiber Market Covers Following Points in TOC:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Demand in Blending Applications
4.1.2 High Demand for Use in Apparels
4.2.1 Availability of Substitutes, like Polyester
4.2.2 Stringent Regulations Worldwide on the Production of Acrylic Fiber
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Technological Snapshot
4.5.1 Production Process
5 MARKET SEGMENTATION
5.2.3 Other Blendings
5.3.2 Household Furnishing
5.3.4 Other Applications (Outdoor)
126.96.36.199 South Korea
188.8.131.52 ASEAN Countries
184.108.40.206 Rest of Asia-Pacific
5.4.2 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aditya Birla Management Corporation Pvt Ltd
6.4.2 Aksa Akrilik Kimya Sanayii AS
6.4.4 Jilin Chemical Fiber Group Co. Ltd
6.4.5 Montefibre SpA
6.4.6 SINOPEC Shanghai Petrochemical Co. Ltd
6.4.8 DOLAN GmbH
6.4.9 Exlan Japan Co. Ltd
6.4.10 Formosa Plastics Group
6.4.11 Grupo Kaltex SA de CV
6.4.12 Indian Acrylics Limited
6.4.13 Kaneka Corporation
6.4.14 Mitsubishi Chemical Corporation
6.4.15 Pasupati Acrylon Ltd
6.4.16 TAEKWANG INDUSTRIAL CO. LTD
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Acrylonitrile Production
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