Acrylic Fibre Market Size Worth $4.7 Billion By 2030: IndustryARC

Acrylic Fibre Market size is predicted to reach $7.12 billion by 2030, growing at a CAGR of 3.1% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The acrylic fiber market is driven by its versatility and applications in textiles, automotive, and home furnishings. With properties like durability, resistance to wrinkling, and moisture-wicking, acrylic fibers are popular in apparel and upholstery. The market is growing due to increasing demand for lightweight and cost-effective alternatives to wool and cotton. Technological advancements in production and a rising focus on sustainable materials are further boosting market expansion, finds IndustryARC in its recent report, titled “Acrylic Fibre Market – By Form (Continuous/Filament Fibre, and Non-continuous/Staple Fibre); By Blend (Acrylic-Wool, Acrylic-Viscose, Acrylic-Nylon, Acrylic-Cotton, and Others); By End-Use Industry (Textiles & Apparel, Furniture & Upholstery, Industrial, Building & Construction, Automotive, and Others); By Geography – North America, South America, Europe, APAC, RoW Opportunity Analysis & Industry Forecast, 2024-2030”

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APAC to Register Highest Growth:

APAC is anticipated to experience the highest growth of CAGR of 6.8% in the Acrylic Fibre market between 2024 and 2030. Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are leading to increased construction activities, boosting demand for Acrylic Fibre in residential, commercial, and infrastructure projects. The automotive sector’s expansion, particularly in China and India, is another significant growth driver, as these sealants are extensively used for bonding and sealing applications in vehicles. Additionally, rising awareness about energy-efficient buildings and the consequent adoption of green building materials are promoting the use of Acrylic Fibre due to its superior insulation properties. The trend towards sustainable and eco-friendly products is further propelling market growth, with manufacturers focusing on developing low-VOC and environmentally friendly sealant formulations. Technological advancements and the growing adoption of advanced sealing solutions in various applications, including marine and aerospace, also play a crucial role in driving the market’s expansion in APAC.

Acrylic Fibre Market 2024-2030: Scope of the Report

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Acrylic Fibre Market Report – Key Takeaways:

Acrylic viscose is the Fastest Growing Segment

By blend, the acrylic viscose segment is analyzed to grow with the highest CAGR of 7.9% in the Acrylic Fibre market during the forecast period 2024-2030. This expansion is driven by increasing demand for lightweight, breathable, and moisture-wicking fabrics used in various applications, including clothing, upholstery, and industrial textiles. The versatility of acrylic viscose fibers, combined with cost-effectiveness and favorable performance characteristics, such as softness and durability, contributes to rising popularity. Moreover, advancements in fiber technology and innovations in textile manufacturing processes enhance the functional properties of acrylic viscose, further boosting market potential. As a result, this segment is expected to lead market growth, reflecting its significant role in meeting evolving consumer and industry demands.

Automotive Segment to Hold Largest Market Share

According to the Acrylic Fibre Market analysis, the automotive is estimated to hold the largest market share at 46% in 2023. The automotive segment is projected to hold the largest market share in the acrylic fiber market due to its expanding applications in vehicle interiors and exterior components. Acrylic fibers are favored for its durability, lightweight properties, and resistance to weathering, making them ideal for automotive textiles, upholstery, and insulation materials. For instance, according to the European Automobile Manufacturers Association, in 2023, global car sales surged nearly 10%, exceeding 72 million units, as supply chain issues eased. Europe saw a notable 18.6% increase in sales compared to 2022, reflecting a strong rebound in the automotive market after a stable 2022. As the automotive industry continues to grow, driven by increasing vehicle production and advancements in automotive technologies, the demand for high-performance and aesthetically pleasing materials like acrylic fibers is expected to rise. This trend is further supported by the increasing emphasis on comfort, safety, and sustainability in vehicle design, solidifying the automotive sector’s dominance in the acrylic fiber market.

Volatility in Raw Material Prices

Volatility in raw material prices poses a significant challenge for the acrylic fiber market. Key raw materials, such as acrylonitrile, experience price fluctuations due to varying market conditions, supply chain disruptions, and geopolitical factors. These fluctuations can lead to unpredictable production costs, impacting profit margins for manufacturers. For instance, sudden increases in acrylonitrile prices can drive up the cost of acrylic fibers, potentially leading to higher prices for end products or reduced profitability for producers. To mitigate these effects, companies may need to adopt strategies such as securing long-term supply contracts, diversifying its raw material sources, or investing in alternative materials and technologies. Effective management of these price risks is crucial for maintaining market stability and competitiveness.

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Key Opportunity Analysis:

Growing Demand for Lightweight and Durable Fabrics:

The growing demand for lightweight and durable fabrics presents a lucrative opportunity in the acrylic fiber market. Acrylic fibers are increasingly favored for its strength, resilience, and light weight, making them ideal for applications in sportswear, outdoor gear, and home textiles. Resistance to wear and easy maintenance further enhance the appeal, driving adoption in various sectors. As consumer preferences shift towards high-performance, long-lasting materials, the acrylic fiber market is poised for significant growth. This trend is bolstered by innovations in fiber technology and increasing applications in diverse industries, positioning acrylic fibers as a key player in the evolving textiles landscape.

Increased Use in Non-Woven Fabrics

The growing use of non-woven fabrics presents a significant opportunity for the acrylic fiber market. Non-woven fabrics, which find applications in filters, geotextiles, and disposable items, increasingly require materials with specific properties such as durability and versatility. Acrylic fibers, known for its lightweight, moisture-wicking, and insulating characteristics, are well-suited for these applications. As industries expand the use of non-woven fabrics for various purposes, from environmental filtration to construction and hygiene products, acrylic fiber manufacturers stand to benefit from heightened demand. This trend highlights an important growth avenue, positioning acrylic fibers as a key component in the evolving non-woven fabric sector.

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The Report also Covers the Following Areas:

• Acrylic Fibre Market Size and Forecast
• Acrylic Fibre Market Trends
• Acrylic Fibre Market Analysis by Type

Acrylic Fibre Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Acrylic Fibre Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Acrylic Fibre Market

Covid and Ukrainian Crisis Impact:

The COVID-19 pandemic disrupted the acrylic fibre market through supply chain interruptions, reduced manufacturing capacities, and shifts in demand. Lockdowns and restrictions halted production and delayed raw material supply, affecting the availability of acrylic fibres. Consumer demand decreased due to economic uncertainty, impacting industries reliant on acrylic fibres, such as textiles and apparel. The pandemic also accelerated shifts towards online shopping, influencing demand patterns and requiring adjustments in distribution channels.

The ongoing Ukrainian crisis has significantly impacted the acrylic fibre market by disrupting regional supply chains and increasing raw material costs. The conflict has led to unstable trade conditions and logistical challenges, affecting the production and distribution of acrylic fibres. Key suppliers and manufacturing facilities in affected regions face operational difficulties, causing supply shortages and price volatility. Additionally, the crisis has led to reduced consumer spending and decreased demand in the textile sector, further straining the market. The uncertainty surrounding the conflict continues to affect market stability and growth prospects.

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List of Key Market Players in Acrylic Fibre Market:

The Acrylic Fibre Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Aditya Birla Group (Thai Acrylic Fibre Co. Ltd.)
• Aksa Akrilik Kimya Sanayii A.S.
• Kairos Industries (Dralon GmbH)
• Jilin Qifeng Chemical Fibre Company Ltd.
• Indian Acrylics Ltd.
• Taekwang Group (Taekwang Industry Co, Ltd.)
• Kaneka Corporation
• Japan Exlan Co. Ltd.
• M&G Group (Chemtex Group)
• SINOPEC

Related Reports:

Acrylic Resins Market: The rapid expansion of such end-use industries, especially the automotive industry, is expected to provide a significant boost to the global acrylic resin market.

Acrylic Emulsions Market: size is forecast to reach $13.28 billion by 2030, after growing at a CAGR of 8.96% during 2024-2030.

Ceramic Fibre Market: Increasing demand from the power industry and the growing use of the high-temperature industrial furnace will anticipate boosting the Ceramic Fibre Market in the forecast era.

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