The global staple acrylic fibre market size reached USD 2,878.3 million in 2021 and it is likely to touch a valuation of USD 2,964.4 Million by 2022. Furthermore, overall sales of staple acrylic fibers are expected to rise at 3.6% CAGR between 2022 and 2032, totaling a valuation of USD 4,230.9 Million by 2032.
Growing demand for sportswear, apparel, upholstery, and other products is driving the demand for staple acrylic fibers as these fibers have similar textures to any other natural fibers & are less expensive.
In recent years, staple acrylic fibers have become ideal cost-effective alternatives to wool. These fibers are characterized by having properties similar to wool. They can also be made to resemble other fabrics such as cotton, depending on the spinning mechanism employed.
Staple acrylic fibers possess various useful properties such as durability and wear resistance, resistance to sunlight, chemicals, and biological agents, and excellent flexibility. As a result, they are being extensively used for making a wide range of textiles and clothing.
Significant demand for staple acrylic fibre for various end uses such as textiles & apparel, upholstery, automotive, building & construction & others will continue to drive the global market swiftly during the forecast period.
Staple acrylic fibers are used to make artificial fur, craft yarns, automobile covers, carpets, and upholstery fabric. Hence, increasing usage of these products will eventually boost the global staple acrylic fibre market.
Similarly, the growing popularity of various acrylic fibre blends across various industries is expected to aid in the expansion of the global market. The recent identification of the beneficial usage of staple acrylic fibre in blends with other materials has generated tremendous demand. They can accept multi-color dyes in clear, dazzling, and subdued tones and staple acrylic fibers have good aesthetic features. Unlike nylon and polyester, they give materials a more natural appearance.
Furthermore, staple acrylic fibers are extremely resistant to microbial attack, mild alkalis, and UV damage. Due to its favorable chemical, physical, and thermo-biological qualities, acrylic fibers are increasingly being used in blends with other materials such as wool, cotton, and polyester.
| Attributes | Key Insights |
|---|---|
| Staple Acrylic Fibre Market Base Value (2021A) | USD 2,878.3 Million |
| Estimated Market Value (2022E) | USD 2,964.4 Million |
| Projected Market Value (2032F) | USD 4,230.9 Million |
| Value-based CAGR (2022 to 2032) | 3.6% |
| Collective Value Share: Top 3 Countries (2022E) | 45.3% |
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The staple acrylic fibre market witnessed a CAGR of 0.5% during the historical period of 2017 to 2021. However, with burgeoning demand for staple acrylic fibre from various industries, FMI predicts the global market to exhibit a CAGR of 3.6% between 2022 and 2032.
Staple acrylic fibers have become ideal materials for making a wide range of clothing including sweaters, underwear, sportswear, socks, etc. on account of their high durability, wear resistance, and excellent flexibility.
The rapid growth of industries like textiles & apparel, furniture upholstery, automotive, and others will therefore continue to boost the global staple acrylic fiber market during the forecast period.
Similarly, the development of new staple acrylic blends by using novel technologies is expected to aid in the expansion of the global market over the next ten years.
Widening Application Area of Emerging Acrylic Fibre Creating Lucrative Prospects for the Market
Acrylic fibre can be used as a predecessor in the manufacturing of different fibers, such as carbon fibers. This application of acrylic fibers is growing rapidly, but consumption of acrylic fibre for the manufacturing of carbon fibers is low, which will have an impact on the market in the near future. The top market players are investing heavily in research and development to embrace technology that will benefit the acrylic fibre market.
Recent developments in acrylic fibre include flame-retardant acrylic fibre, weather-resistance acrylic fibre, anti-microbial acrylic fibre, etc. They are used in manufacturing industries, hospitals, etc. This widening application area of acrylic fibre is expected to drive the global market forward during the projection period.
Furthermore, demand for staple acrylic fibre will rise as a result of advancements in processing and technologies that enable the production of acrylic fibre from entirely new sources.
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Fluctuation in Raw Material Prices and Rising Environmental Concerns to Limit Market Expansion
Fluctuation in the prices of raw materials like acrylonitrile which is used in the manufacturing of acrylic fibers is a key factor restraining the growth of the global market.
The oil and gas industry is a major source of propylene for acrylonitrile manufacturers. Variations in the price of crude oil will raise the price of petroleum fraction products, which will raise the price of making acrylonitrile. As a result, it is anticipated that the market's high acrylonitrile dependence will impede the expansion of sales.
Similarly, growing environmental concerns is another factor that is limiting the expansion of the staple acrylic fibre market. The environmental impact of acrylic fabric is negative. Further, the industrial methods used to create acrylic fabric are extremely volatile, and the factories that make this fibre are always in danger of blowing up if the required safety precautions aren't taken.
During the making of acrylic fabric, several harmful compounds are employed, and if these substances are not managed or disposed of properly, they invade nearby ecosystems and endanger nearby species and people.
Booming Textiles Industry Driving Demand in India
The staple acrylic fibre market in India is expected to reach a valuation of USD 315.8 Million by the end of 2032. This can be attributed to the rapid expansion of the textile industry, favorable government support, and easy availability of raw materials.
The Indian textile industry is one of the country's oldest, stretching back several centuries. The primary basis of India's textile industry is its strong manufacturing base of a diverse variety of bras ranging from natural fibers such as jute, cotton, silk, and wool to man-made fibers such as acrylic, viscose, polyester, viscose, and nylon. India has a 4% share of the global trade in textiles and apparel according to IBEF.
India is one of the major producers of staple acrylic fibre in the global market. The country is home to several key market players which hold a significant share in the global staple fibre market, such as Vardhman, Pasupati, and Indian Acrylics. The economic development, FDI investments, favorable manufacturing conditions, and availability of raw materials & natural fibers for blending are some of the key factors that are expected to propel the growth of the Indian staple acrylic fibre market.
According to the World Trade Organization, India has the world's third-largest textile manufacturing industry, accounting for more than 6% of total textile production. The textile & apparel segment is the major consumer of staple acrylic fibre, which will get benefitted from the growing textile industry.
Rise in Export of Textiles and Clothing Boosting Sales in China
As per FMI, the overall staple acrylic fibre market in China is expected to expand at a steady CAGR of 3.7% during the forecast period (2022 to 2032). Growth in the market is driven by increasing export of textiles and apparel, adoption of advanced manufacturing technologies, and reduced material prices.
China is the world's largest producer and exporter of both raw textiles and finished clothing. Despite shipping fewer clothes and more textiles to the world as a result of the coronavirus pandemic, China maintains its position as the world's leading manufacturer and exporter.
China is and has been, a country on the cutting edge of research for decades. This allows them to develop novel synthetic fibers that aid in the production of textiles. In fact, it is the world's largest producer of acrylic fabric. The country manufactures more than 30% of the world's acrylic fabric and garments and has the largest acrylic clothing market.
The favorable manufacturing conditions, government initiatives, presence of market players & advanced technologies are key crucial factors expected to boost the China staple acrylic fibre market during the next ten years.
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Acrylic-Wool Remains the Most Sought-After Blend in the Market
As per FMI, the acrylic-wool segment is anticipated to grow at a CAGR of 4.1% during the forecast period, making it one of the leading segments in terms of the blend. This can be attributed to the rising usage of an acrylic-wool blend across various industries.
Wool has been utilized for clothing since the classical era and has exceptional qualities like warmth, moisture absorption, and wrinkle resistance. Wool's capacity to gradually heal from deformation is a key characteristic. The production of clothing such as sweaters, boots & boot linings, hoodies, hats, gloves, athletic wear, carpeting, blankets, roller brushes, upholstery, area rugs, protective garments, wigs, and hair extensions has come to rely on 100% wool-based fabrics.
Wool and acrylic blends, which are quite popular, are made primarily from the acrylic fibre. Circular knit products are made with these mixes of 45% acrylic and 55% wool fibre. Sportswear with qualities including ease of care, durability, appearance retention, color style, and palatability is made mostly from this combination. Popular blends of acrylic wool that are affordable, appealing, and simple to handle including the 50/50 and 70/30 varieties.
Textile & Apparel Segment to Generate Maximum Revenues Through 2032
Based on end use, the textile & apparel segment is anticipated to reach around USD 2,475.2 Million by the end of 2032. This can be attributed to the rising usage of staple acrylic for making various textiles and apparel products including knitwear, fur items, and sportswear.
Staple acrylic fibers are used to produce garments with a natural appearance due to their capacity to accept multi-color dyes in transparent, vibrant, and subdued tones. Additionally, they exhibit outstanding resistance to the effects of UV deterioration, microbiological attack, and weak alkalis. The demand for staple acrylic fibers from the textile sector is anticipated to increase due to the various qualities that staple acrylic fibre offers.
Acrylic fibers have properties that are most similar to wool fibers. They are soft and light fibers that feel light and warm against the human skin. Acrylic fibers are commonly utilized in knitted products such as sweatshirts, sweaters, and jerseys, bedding fabrics such as blankets and Pile sheets, and home carpets. Although acrylic is very close to wool in its natural condition, depending on the spinning mechanism employed, it can be modified to look like other fabrics, such as cotton.
Increasing apparel demand from the fashion industry, combined with the expansion of e-commerce platforms, is likely to drive market growth throughout the forecast period. The industry is based on three basic principles: creating, manufacturing, and distributing various flexible materials such as yarn and garments. Furthermore, increased consumer demand for wrinkle suiting and shirting materials, as well as quality-dyed and printed fabrics, will push category expansion even further.
Staple acrylic fibre is an oligopolistic market with a small number of players holding a majority of shares in the market. Key market participants are strategically focusing on the expansion of their production capacities to cater for the remarkable growth in demand for the product over recent years. They are also investing a fair share of their revenue in research and development (Research and Development) and are concentrating on the adoption of new & modified manufacturing techniques to get high-quality products.
For instance:
In recent years, thriving textile and apparel industries worldwide have tempted various companies to enter into the staple acrylic fibre business. As a result, there has been a significant rise in the number of new start-ups, especially across emerging countries like India and China during the last few decades. One such start-up is Cedaar Textile.
Headquartered in Ludhiana India, Ceedar Textile has become a leading textile manufacturing company in India. The company was founded in 1995 and offers a wide range of Melange yarns, polyester, acrylic, viscose, Tencel, and several other products. The company is focused towards offering sustainable products and uses innovative manufacturing technologies to reduce environmental impact and comply with government regulations.
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 2,964.4 Million |
| Projected Market Size (2032) | USD 4,230.9 Million |
| Anticipated Growth Rate (2022 to 2032) | 3.6% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and KT for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa |
| Key Segments Covered | Dyeing Method, Blend, End Use, and Region |
| Key Companies Profiled | Aksa Akrilik Kimya Sanayii AS; Thai Acrylic Fibre Co. Ltd (TAF); Jilin Chemical Fiber Co., Ltd.; Taekwang Industry Co. Ltd.; Indian Acrylics Ltd.; CHEMTEX GLOBAL CORPORATION; Vardhman Acrylics Ltd; Pasupati Acrylon Ltd; Japan Exlan Co. Ltd; Kaneka Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global market for staple acrylic fibre is estimated to reach a valuation of USD 2,964.4 Million in 2022.
Demand for staple acrylic fibre is anticipated to grow at 3.6% CAGR over the forecast period of 2022 to 2032 in terms of value.
The worldwide staple acrylic fibre market is projected to reach a valuation of USD 4,230.9 Million in 2032.
According to FMI analysis, Aksa Akrilik Kimya Sanayii AS, Thai Acrylic Fibre Co. Ltd (TAF), Jilin Chemical Fiber Co., Ltd., Taekwang Industry Co. Ltd., Indian Acrylics Ltd., CHEMTEX GLOBAL CORPORATION, Vardhman Acrylics Ltd, Pasupati Acrylon Ltd., Japan Exlan Co. Ltd., Kaneka Corporation and others are identified as the key manufacturers in the market.
Key players in the global staple acrylic fibre market are expected to account for about 50-55% of the overall market share.
The top countries driving the global staple acrylic fibre demand are China, the US, Japan, and India.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Dyeing Method 9.1. Acid 9.2. Gel 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Blend 10.1. Acrylic-Wool 10.2. Acrylic-Viscose 10.3. Acrylic-Nylon 10.4. Acrylic-Cotton 10.5. Others 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use 11.1. Textiles & Apparel 11.1.1. Hand knitting yarns 11.1.2. Knitwear 11.1.3. Fur items 11.1.4. Sportswear 11.1.5. Others 11.2. Furniture Upholstery 11.3. Industrial Filtration Materials 11.4. Building & Construction 11.5. Automotive 11.6. Others 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia and Pacific 12.6. Middle East and Africa (MEA) 13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Country-wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Aksa Akrilik Kimya Sanayii A 21.2. Thai Acrylic Fibre Co. Ltd (TAF) (Aditya Birla Group) 21.3. Jilin Chemical Fiber Company 21.4. Taekwang Industry Co, Ltd. 21.5. Exlan Japan Co., Ltd. 21.6. Kaneka Corporation 21.7. Indian Acrylics Limited 21.8. Pasupati Acrylon Ltd. 21.9. Vardhman Acrylics Ltd 21.10. Sudamericana de Fibras 21.11. Chemtex Group 22. Primary Survey Analysis 23. Assumptions and Acronyms Used 24. Research Methodology
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Staple Acrylic Fibre Market
