Market Size of Acrylic Fiber Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.68 Billion |
| Market Size (2029) | USD 2.38 Billion |
| CAGR (2024 - 2029) | -2.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acrylic Fiber Market Analysis
The Acrylic Fiber Market size is estimated at USD 2.68 billion in 2024, and is expected to decline to USD 2.38 billion by 2029.
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.
- 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 Industry Segmentation
Acrylic fibers are mainly synthetic fibers. The major raw materials used to manufacture acrylic fibers include acrylonitrile, comonomers DMF, and additives. Acrylonitrile is the major raw material used in the production of acrylic fiber, which is about 85% of the acrylonitrile units by weight. The market is segmented by form, blending, application, and geography. By form, the market is segmented into staple and filament. By blending, the market is segmented into wool, cotton, and other blendings (cellulose). By application, the market is segmented into apparel, household furnishing, industrial, and other applications (Upholstery). The report also covers the market size and forecasts for the market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton).
| Form | |
| Staple | |
| Filament |
| Blending | |
| Wool | |
| Cotton | |
| Other Blendings (Cellulose) |
| Application | |
| Apparel | |
| Household Furnishing | |
| Industrial | |
| Other Applications (Upholstery) |
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Acrylic Fiber Market Size Summary
The acrylic fiber market is poised for a recovery after experiencing setbacks due to the COVID-19 pandemic, which disrupted economic activities and manufacturing processes. The market is driven by the high demand for acrylic fiber in apparel, although it faces challenges from the availability of substitutes like polyester and stringent global regulations. The filament segment holds the largest market share and is expected to continue its growth trajectory. The Asia-Pacific region, particularly ASEAN countries and India, dominates the market due to significant demand. Acrylic fiber is primarily used in blends with wool, which are favored for their durability, appearance retention, and ease of care, making them popular in sportswear and various apparel applications.
China stands as the largest producer of acrylic fibers, significantly contributing to global production and benefiting from both domestic and international demand, particularly from regions like ASEAN, Europe, the United States, and Japan. The country's robust textile industry, which leads in global textile production and exports, is a key driver of acrylic fiber demand. The market is consolidated, with major players like Aksa Akrilik Kimya Sanayii A≈û, Dralon, and Jilin Chemical Fiber Group Co., Ltd. actively expanding their production capacities. These trends indicate a positive outlook for the acrylic fiber market, with anticipated growth driven by increasing demand in the apparel and household furnishing sectors.
Acrylic Fiber Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 High Demand for Use in Apparels
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1.1.2 Online Purchasing Drive the Demand for End Use Products
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1.2 Restraints
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1.2.1 Availability of Substitutes, like Polyester
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1.2.2 Stringent Regulations Worldwide on the Production of Acrylic Fiber
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Form
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2.1.1 Staple
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2.1.2 Filament
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2.2 Blending
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2.2.1 Wool
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2.2.2 Cotton
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2.2.3 Other Blendings (Cellulose)
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2.3 Application
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2.3.1 Apparel
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2.3.2 Household Furnishing
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2.3.3 Industrial
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2.3.4 Other Applications (Upholstery)
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 ASEAN Countries
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2.4.1.6 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 Italy
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2.4.3.4 France
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2.4.3.5 Turkey
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2.4.3.6 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle-East and Africa
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Acrylic Fiber Market Size FAQs
What is the current Acrylic Fiber Market size?
In 2024, the Acrylic Fiber Market size is expected to reach USD 2.68 billion.
Who are the key players in Acrylic Fiber Market?
Aksa Akrilik Kimya Sanayii AŞ, Jilin Chemical Fiber Group Co., Ltd., Dralon, Aditya Birla Management Corporation Pvt. Ltd and Sinopec are the major companies operating in the Acrylic Fiber Market.
