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Acrylic Fiber Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 150 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4703397
UP TO OFF until Sep 30th 2023

Quick Summary:

In a rapidly evolving global marketplace, strategically leveraging trends is key. This ethos holds particularly true for the forward-looking acrylic fiber industry. Our thoroughly researched report, harnessing a vast spectrum of data and insights, offers businesses a competitive edge in navigating the sector's anticipated growth curve.

Investing in this report will empower your decision-making process, offering a detailed analysis of key market drivers like rising consumption in apparel sectors, as well as potential deterrents like the availability of substitutes. Crucially, the report sheds light on market stratification, providing vital understanding about the dominance of the filament segment and Asia-Pacific region. Equipped with this comprehension, you can effectively carve out informed and game-changing strategies. Leadership in today's economy requires a clear transition from intuition to insight-driven decisions, and this report is your tool to ensure that shift is seamless and successful.

The acrylic fiber market size is estimated to reach over 1,260 kilotons by the end of this year, and the market is projected to register a CAGR of more than 2% during the forecast period.

The market was negatively impacted by COVID-19 in 2021, as the pandemic resulted in the slowdown of businesses, products, and manufacturing facilities, resulting in less economic activity. However, the market is excepted to recover during the forecasting period.

Key Highlights

  • Over the medium term, the major factor driving the growth of the market studied includes the high demand for the use of apparel.
  • On the flip side, the availability of substitutes like polyester and stringent regulations worldwide on the production of acrylic fiber are expected to hinder the growth of the market.
  • By form, the filament segment accounted for the largest market share, and it is expected to grow during the forecast period.
  • Asia-Pacific dominated the acrylic fiber market due to high demand from the ASEAN countries and India.

Acrylic Fiber Market Trends

Wool Segment to Dominate the Market

  • The use of wool for clothing ages back to ancient times. Wool has outstanding properties, such as resistance to wrinkles, moisture absorption, and warmth. A significant feature of wool is its ability to recover from deformation over time. Hence, clothing made from these fibers is attractive. ​
  • Fabrics that are woven or knitted with 100% wool fiber have become a standard in making apparel, like sweaters, hoodies, boots, boot lining, hats, gloves, athletic wear, carpeting, blankets, roller brushes, upholstery, area rugs, protective clothing, wigs, hair extensions.
  • The majority of Acrylic Fiber is used to make wool and acrylic blends which are very popular. These blends of 55% wool and 45% acrylic fiber are used to make circular knit goods. This blend is particularly used in making sportswear, which has characteristics like the ease of care, durability, appearance retention, color styling, and palatability.​
  • Depending on the requirements, there are different blends that are widely used across the world. The 50/50 and 70/30 acrylic wool blends are popular among those that are inexpensive, look good, and are easy to handle. The 50/50 acrylic wool blend is used to make lightweight apparel that has excellent durability and shape retention. The 70/30 acrylic wool blend is used to make slacks.​ According to TextileExchange.org, 1.03 million tonnes of wool fiber was produced in 2021.
  • Hence, increasing demand for acrylic fiber in the wool segment is likely to dominate the market.

China to Dominate the Asia-Pacific Region

  • 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 demand from domestic and international markets, primarily from ASEAN countries, Europe, the United States, and Japan, the textile industry in China has expanded over the years. ​
  • Iran, India, Vietnam, Pakistan, and the United Arab Emirates are some of the largest markets where China exports acrylic fibers. The country also imports acrylic fiber from countries like Japan, Germany, Thailand, South Korea, and Turkey.​
  • In 2021, China's acrylic fiber import volumes totaled 75,000 tons, up 10.3% from 68,000 tons in 2020. The rise in 2021 was mainly attributed to the increase in March-May, up about 7,800 tons during the period. Increased demand from apparel and household furnishing applications may drive the market for acrylic fibers.
  • China is the largest textile-producing and exporting country in the world, it holds about 43% share of the world's total textile exports in terms of value. Thus, the growth in China's clothing industry is anticipated to boost the market for acrylic fibers.​
  • Hence, all such market trends are expected to add to the demand for the acrylic fibers market in China during the forecast period.

Acrylic Fiber Market Competitor Analysis

The acrylic fiber market is consolidated in nature. Some of the major players in the market include Aksa Akrilik Kimya Sanayii AŞ, Dralon, Jilin Chemical Fiber Group Co., Ltd., Aditya Birla Management Corporation Pvt. Ltd, and Sinopec, among others.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 High Demand for Use in Apparels
4.1.2 Online Purchasing Drive the Demand for End Use Products
4.2 Restraints
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 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Form
5.1.1 Staple
5.1.2 Filament
5.2 Blending
5.2.1 Wool
5.2.2 Cotton
5.2.3 Other Blendings (Cellulose)
5.3 Application
5.3.1 Apparel
5.3.2 Household Furnishing
5.3.3 Industrial
5.3.4 Other Applications (Upholstery)
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea ASEAN Countries Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico
5.4.3 Europe Germany United Kingdom Italy France Turkey Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

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 AŞ
6.4.3 China Petrochemical Corporation
6.4.4 Dralon
6.4.6 Goonvean Fibres
6.4.7 Indian Acrylics Limited
6.4.8 Japan Exlan Co. Ltd
6.4.9 Jiangsu Zhongxin Resources Group
6.4.10 Jilin Chemical Fiber Group Co. Ltd
6.4.11 Kaltex
6.4.13 Mitsubishi Chemical Corporation
6.4.14 Pasupati Acrylon Ltd
6.4.15 PetroChina Company Limited
6.4.16 Polyacryl Iran Corp.
6.4.17 Polymir
6.4.18 SDF
6.4.19 SGL Carbon
6.4.20 Taekwang Industrial Co. Ltd
6.4.22 Vardhman Acrylics Ltd
6.4.23 Yousuf Dewan Companies

7.1 Future Market for Acrylic Paper

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aditya Birla Management Corporation Pvt. Ltd
  • Aksa Akrilik Kimya Sanayii AŞ
  • China Petrochemical Corporation
  • Dralon
  • Goonvean Fibres
  • Indian Acrylics Limited
  • Japan Exlan Co. Ltd
  • Jiangsu Zhongxin Resources Group
  • Jilin Chemical Fiber Group Co. Ltd
  • Kaltex
  • Mitsubishi Chemical Corporation
  • Pasupati Acrylon Ltd
  • PetroChina Company Limited
  • Polyacryl Iran Corp.
  • Polymir
  • SDF
  • SGL Carbon
  • Taekwang Industrial Co. Ltd
  • Vardhman Acrylics Ltd
  • Yousuf Dewan Companies