The global acrylic fibre market size was valued at USD 5,306.1 million in 2022 and it is likely to exceed a valuation of around USD 5,470.6 million in 2023. Furthermore, with rising usage across various end-use verticals, the overall demand for acrylic fibres is projected to rise at 4.2% CAGR between 2023 and 2033, totaling USD 8,006.7 million by 2033.
Acrylic fibres are synthetic fibres made from a polymer called polyacrylonitrile. They are lightweight, soft, and warm, just like wool. They are being increasingly used for making knitted apparel such as socks, sportswear, tracksuits, sweaters, etc. Besides this, they are used to create fake fur, craft yarns, vehicle covers, carpets, and upholstery fabric.
| Attributes | Details |
|---|---|
| Acrylic Fibre Market Share (2022) | USD 5,306.1 million |
| Acrylic Fibre Market Share (2023) | USD 5,470.6 million |
| Acrylic Fibre Market Share (2033) | USD 8,006.7 million |
| Acrylic Fibre Market Share (2023 to 2033) | 4.2% |
Fabrics made from acrylic fibres are known for their high performance and luxurious feel. They have a very low specific gravity which makes them light. They are being increasingly used as a substitute for wool on account of their low flexibility, low cost, heat retention, shape retention, and quick dry properties.
The rising usage of acrylic fibres for making a wide range of apparel, home furnishing, and other industrial clothing is expected to provide a strong thrust to the growth of the acrylic fibre market during the forecast period.
Similarly, the widening application area of acrylic fibres will continue to expand the market size during the next ten years. Considering this, FMI forecast the global acrylic fiber sales to reach a valuation of USD 8,006.7 million in 2033.
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The acrylic fibre market witnessed a CAGR of 3.1% during the historical period of 2018 to 2022. Many industries had a difficult time during the COVID-19 pandemic, and the acrylic fibre market was no exception. Lockdown laws were enacted by numerous governments around the world, and factories and production facilities in many industries stopped operating. Due to the lockdown procedures being followed by numerous businesses, the supply chain was severely interrupted.
According to Textile Exchange, global fibre output volume declined from 111 million metric tonnes in FY 2019 to 109 million metric tonnes in FY 2020. This explains a 1.8% decline in the manufacturing of fibres, including acrylic fibre and other synthetic fibres.
However, with the rapid growth of the apparel & textile industry and increasing usage of acrylic fibres for making apparel, home furnishing, and other items, the overall acrylic fibre market is set to expand at around 4.2% CAGR between 2023 and 2033.
Acrylic fibres are being extensively used for manufacturing various apparel such as sweaters, sportswear, socks, home furnishing, and industrial cloth due to their lightweight, flexibility, and low cost.
The rapid growth of end-use sectors including apparel, home furnishing, and industrial will therefore continue to propel the sales of acrylic fibres during the forecast period.
Factors such as a rapidly growing population, changing lifestyle, increasing disposable income, and flourishing fashion industry are expected to indirectly influence the growth of acrylic fibre during the next ten years.
Use of Acrylic Fiber in Blend With Other Materials to Benefit the Acrylic Fibre Market
A significant demand has been generated by the recent recognition of the beneficial use of acrylic fiber in blending with other materials. They can take multi-colour dyes in clear, brilliant, and subdued tones. These fibers have good aesthetic qualities. Unlike their nylon and polyester counterparts, they provide fabrics with a more natural look.
Additionally, they exhibit exceptional resistance to microbial attack, mild alkalis, and UV deterioration. The usage of acrylic fibers in blends with other materials like wool, cotton, polyester, etc. is growing in popularity as a result of their favorable physical, chemical, and thermo-biological properties. This will provide a strong thrust to the growth of the acrylic fiber market during the forecast period.
In addition, a variety of end-use sectors, including garments and home furnishings, use acrylic fibers. The demand for acrylic fibers is anticipated to rise in the coming years, particularly due to the macroeconomic development of end-use sectors which is supported by regional GDP and population growth.
Widening Applications of Acrylic Fibre Creating Substantial Opportunities for the Market Players
Acrylic fiber can be utilized as a precursor in the production of other fibers such as carbon fibers. This application of acrylic fibers can present lucrative opportunities for manufacturers. However, the consumption of acrylic fiber for the production of carbon fibers is low & it can have an impact on the market in the near future. The major market companies are pouring a lot of money into research and development to incorporate technology that would increase the body's ability to absorb acrylic fiber.
Recent developments in acrylic fiber include flame-retardant acrylic fiber, weather-resistance acrylic fiber, antimicrobial acrylic fiber, etc. They are used in manufacturing industries, hospitals, etc.
Furthermore, the demand for acrylic fiber will increase as a result of improvements in processing and technologies that make it possible to develop acrylic fibers from brand-new sources. All these factors are expected to create opportunities for market growth during the forecast period.
Principal Consultant
Fluctuations in Raw Material Prices and Availability of Substitutes Affecting the global Acrylic Fiber Market
Acrylonitrile is a key raw ingredient used in the production of acrylic fibers. As the oil and gas industry is a large source of propylene for makers of acrylonitrile, an increase in acrylonitrile prices is anticipated to restrain the expansion of the worldwide acrylic fiber market.
Additionally, the availability of alternatives is anticipated to restrain the market's potential to develop its revenue. Some of the most popular synthetic fibers include polyamide, polyester, and polypropylene. Polyester is the most popular synthetic material, which has a lightweight form factor, good color fastness, and durability.
Acrylic Staple Fibre to Witness Highest Demand in the Global Acrylic Fibre Market
The acrylic fibre staple form segment is expected to grow at the highest growth rate of 3.2% CAGR from 2023 to 2033. This can be attributed to the rising usage of stable acrylic fibre forms across end-use verticals.
The market for acrylic fibre has been divided into filament and staple products based on form. As per FMI, revenue in the staple segment is anticipated to grow significantly over the projected period. A non-continuous, rather short-length fibre is a staple fibre. Due to their limited length, staple fibres must be twisted together to create a long, continuous yarn.
To create yarns with a natural feel, synthetic fibres can be used alone or chopped into similar short lengths and mixed with natural staple fibres. Natural fibres that are staples include flax, cotton, and wool. In the textile industry, staple fibre is used to make blankets, yarn, and carpets.
Gel Dyeing Method Remains the Most Popular in the Global Acrylic Fibre Market
The market for acrylic fibre has been divided into three categories based on the dyeing process: acid, gel, and undyed. According to FMI over the projection period, the revenue for the gel category is anticipated to grow significantly.
Gel dyeing, commonly referred to as mass dyeing, is a continuous tow dyeing technique in which soluble colours are applied to wet-spun synthetic fibres while they are in the gel condition, such as acrylic or modacrylic fibres.
The fact that the substance is in a gel condition shows that it is not yet entirely crystalline. The gel dyeing method is applied after extrusion and coagulation but before drying and drawing. Only fibres produced through the wet-spinning method are suitable for gel colouring.
The gel dyeing method has great environmental benefits as compared to traditional processes and is therefore preferred by manufacturers.
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Rapid Expansion of Textiles Industry Pushing Demand for Acrylic Fibres in India
According to FMI, India is expected to account for a substantial share of the global acrylic fibre market, owing to the rapid expansion of the textiles industry and the rise in the export of yarns and fibres.
India Brand Equity Foundation (IBEF) estimates that 2.4 million tonnes of fibre were produced in India in FY 2021. In 2019, the Indian textile and apparel sector also made up 12% of export revenue and contributed 2% to the GDP. The rise in the number of textile industries in India is favoring the growth of the acrylic fibre market and the trend is likely to continue during the forecast period.
In the upcoming years, India is probably going to be the new development engine of the region's acrylic fibre market, propelled by a rising population, increasing disposable income, and changing lifestyle. To seize a sizable share of the expanding acrylic fibre industry, some Indian businesses are expanding their capacity for staple fibres.
The market's expansion will be aided by the reasonable presence of major important producers of commodities with acrylic fibre end-use applications in this area. Thus, in comparison to other nations, the acrylic fibre market in India is anticipated to grow at a higher CAGR.
Surge in Export of Synthetic Fibres Fueling Market Growth in China
The acrylic fibre market in China is projected to grow at an estimated value CAGR of 4.6% in 2023. With more than 30% of the world's production of acrylic fibres, China is the world's leading manufacturer of these fibres.
The textile industry in China has grown over time as a result of demand from both home and foreign markets, notably from ASEAN nations, Europe, the United States, and Japan. One of the biggest destinations for China's acrylic fibre exports is the United Arab Emirates, followed by Iran, India, Vietnam, Pakistan, and Iran.
Additionally, the nation imports acrylic fibre from nations including Turkey, Thailand, South Korea, Germany, Japan, and the United States. China is the world's top producer and exporter of textiles, with net exports of textiles reaching USD 154.1 billion in 2020, up 28.9% annually and making up 43.5% of the global total. Growing end-use industries in China are favouring the growth of the acrylic fibre market and are expected to propel the growth in the forecast period.
To meet the growing demand for acrylic fibre, manufacturers have shifted their focus towards emerging countries in recent years. Several major players are concentrating primarily on improving their production capabilities, R&D investments, collaborative partnerships, and mergers and acquisitions.
Recent Developments Observed by FMI:
Key Players in the Global Market:
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Fiber Form, Dyeing Method, Blending, End Use, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market boosted at a CAGR of 3.1% from 2018 to 2022.
Through 2033, the market is to develop at a CAGR of 4.2%.
By 2033, the acrylic fibre market is to have expanded to USD 8,006.7 million.
In 2023, the market is anticipated to reach a worth of USD 5,470.6 million.
Acrylic fiber used in combination with other materials serves the market.
From 2023 to 2033, the acrylic fibre staple form category developed at a rapid CAGR of 3.2%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Fiber Form 5.1. Staple 5.2. Filament 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Dyeing Method 6.1. Acid 6.2. Gel 6.3. Undyed 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Blending 7.1. Wool 7.2. Cotton 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 8.1. Apparels 8.2. Home Furnishing 8.3. Industrial 8.4. Outdoor 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Aksa Akrilik Kimya Sanayii A. 19.2. Dralon 19.3. Aditya Birla Group 19.4. Jilin Chemical Fiber Company 19.5. TAEKWANG INDUSTRIAL CO., LTD 19.6. Exlan Japan Co., Ltd. 19.7. Kaneka Corporation 19.8. Indian Acrylics Limited 19.9. Pasupati Acrylon Ltd. 19.10. Vardhman Acrylics Ltd 20. Assumptions & Acronyms Used 21. Research Methodology
Chemicals & Materials
October 2022
REP-GB-154
250 pages
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Acrylic Fibre Market
