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Acrylic Fibers Market Size
Acrylic Fibers Market size was valued at around USD 5.1 billion in 2022 and is projected to register a CAGR of over 3.4% between 2023 and 2032. Acrylic fibers are used in various apparel applications, including sweaters, socks, and sportswear. Demand in the apparel industry is often driven by changing fashion trends, consumer preferences for synthetic materials, and the need for lightweight, durable, and affordable clothing.
Acrylic fibers are used in the production of blankets, carpets, and upholstery materials. Consumer preferences for soft, easy-to-clean, and affordable home textiles drive demand. Acrylic fibers find applications in industrial textiles, such as filtration media and protective clothing. Growth in these sectors, often influenced by regulatory requirements and technological advancements, can boost demand.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 5.2 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 3.4% |
| 2032 Value Projection: | USD 7.1 Billion |
| Historical Data for: | 2018 to 2032 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 191 |
| Segments covered: | Fiber type, Application, End-use, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Acrylic fibers compete with other synthetic fibers like polyester and nylon. Acrylic fibers are derived from petrochemicals, and their prices are subject to fluctuations in crude oil and natural gas prices. The production of acrylic fibers involves the use of chemicals and energy, and it can have environmental impacts. Thus, the risks associated with acrylic fibers may drive down the acceptance rate, further hampering the business growth.
COVID-19 Impact
The demand for acrylic fibers, like other textiles, saw fluctuations during the pandemic. Initially, there was a decline in demand as lockdowns, travel restrictions, and economic uncertainties led to reduced consumer spending on non-essential items, including clothing and textiles. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business growth in the upcoming years.
Acrylic Fibers Market Trends
Like many industries, the textile sector, including acrylic fibers, has been increasingly focused on sustainability. There has been growing interest in producing acrylic fibers using environmentally friendly processes and recycling post-consumer acrylic textiles. The use of recycled acrylic fibers gained momentum. Manufacturers have been working on technologies to recover and regenerate acrylic fibers from post-consumer textiles, reducing the environmental impact of production.
Acrylic Fibers Market Analysis
Based on fiber type, the acrylic fibers market is segmented as Staple Fiber, Tow (Tow-Dyed) Fiber. Staple Fiber held a majority market value of USD 3.3 billion in 2022. Staple acrylic fibers are commonly used in the production of various textile products, including sweaters, blankets, and carpets. Demand is driven by fashion trends, seasonal variations, and consumer preferences for soft, comfortable, and affordable clothing and home textiles.
Based on application, the acrylic fibers market is segmented as Apparel, Home Textiles, Nonwoven Fabrics, Industrial and Technical Textiles, Carpets and Rugs, Outdoor and Recreational Products, Upholstery, Blankets and Bedding, Craft and Hobby, Others. Apparel held a dominant market share of around 40% in 2022. The demand for acrylic fibers in apparel and textiles is often driven by fashion trends. Consumers' preferences for affordable, versatile, and easy-to-care-for clothing can boost demand.
Based on end-use, the acrylic fibers market is segmented as Textile Industry, Automotive Industry, Construction Industry, Filtration and Separation, Aerospace and Defense, Healthcare Industry, Others. Food & beverages held a dominant market share in 2022 and is anticipated to grow at 3.4% CAGR through 2032. Demand for acrylic fibers in this sector is often driven by changing fashion trends and consumer preferences for affordable, easy-care, and versatile clothing. Thus, the high-quality services and growing usage of acrylic fibers at food centres are anticipated to expedite the business expansion.
U.S. dominated the North American region with majority acrylic fibers market share and a revenue of USD 1.6 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. Demand for acrylic fibers in automotive interiors depends on consumer preferences for comfort and aesthetics in vehicles. Design trends and the quality of interior materials play a significant role.
Acrylic Fibers Market Share
- Nippon Paper Industries Co., Ltd
- Stora Enso
- South African Pulp & Paper Industries
- Mondi plc
- ITC Limited
- Smurfit Kappa Group
- Oji Holding Corporation
- International Paper Group
- Svenska Cellulosa Aktiebolaget
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Acrylic Fibers Industry News:
- In May 2021, In March 2022, AKSA announced to increase its production capacity from 330 kilotons/year to 365 kilotons/year by investing in 2 new production lines.
- In January 2021, Thai Acrylic Fibre Co. Ltd (TAF), an Aditya Birla Group company, became Bluesign’s system partner. TAF has gone elaborate screening process by Bluesign in 2020, including input stream management, environment management, OHS, product stewardship, legal and social compliance, etc.
Acrylic fibers market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo Tons from 2018 to 2032, for the following segments:
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By Fiber Type
- Staple Fiber
- Tow (Tow-Dyed) Fiber
By Application
- Apparel
- Home Textiles
- Nonwoven Fabrics
- Industrial and Technical Textiles
- Carpets and Rugs
- Outdoor and Recreational Products
- Upholstery
- Blankets and Bedding
- Craft and Hobby
- Others
By End-use
- Textile Industry
- Automotive Industry
- Construction Industry
- Filtration and Separation
- Aerospace and Defense
- Healthcare Industry
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
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