Global Acrylic Fibers Market: Overview

Acrylic fibers are polymers formed by addition of polymerization of acrylonitrile. They offer resistance to ultraviolet degradation, microbiological attack, weak alkalis, and laundry bleach. These fibers also offer good thermal stability. Acrylic fibers provide high stability toward bleaching agents. They also possess low specific mass & elasticity, which makes them an ideal choice for production of textiles. Acrylic fibers are extensively employed in the production of apparel owing to the characteristics mentioned above.  

Rise in per capita income and decrease in cost of apparels are anticipated to drive the acrylic fibers market across the globe. Additionally, rise in fashion trends in the apparel industry and penetration of e-commerce in boosting the sales of clothes are anticipated to fuel the apparel industry in the near future. This, in turn, is projected to drive the demand for acrylic fibers. However, fluctuation in prices of acrylonitrile, which is used as raw material in the manufacture of acrylic fibers, is likely to hamper the acrylic fibers market in the near future. Presence of substitutes such as polyester fibers is also projected to hinder the acrylic fibers market during the forecast period. Additionally, the U.S. Environmental Protection Agency has regulated the usage of acrylic fibers due to the potential health hazards such as inhalation of polyacrylonitrile can lead to cyanide poisoning.

Global Acrylic Fibers Market: Key Segments

Based on method of production, the global acrylic fibers market can be segmented into dry spun, wet spun, spun-dyed, shining, matt and flame retardant, and others (including industrial grade fibers). In dry spinning of acrylic fibers, dimethylformamide is used as a thermal stabilizer. In wet spinning, sodium thiocyanate is commonly used as solvent. In wet spinning, the investment cost is less compared to that in dry spinning. In dry spinning, volatile organic solvents are used for production. Under wet spinning, organic and inorganic solvents can be used in the production of acrylic fibers.

Based on end-use, the global acrylic fibers market can be divided into apparel, household, and industrial. The apparel segment is anticipated to be the dominant end-user of the global acrylic fibers market in the near future. In outdoor application, acrylic fibers is used in the manufacture of car tops, boat covers, awnings, and outdoor furniture. These fibers are also used in the manufacture of filtration materials and reinforcement materials for construction applications.

Global Acrylic Fibers Market: Regional Analysis

In terms of region, the global acrylic fibers market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is estimated to constitute major share of the global market during the forecast period. The acrylic fibers market in Asia Pacific is estimated to expand at a rapid pace due to the rise in per capita income across the region. Decrease in prices of apparel and rise in standard of living of the people are also projected to boost the demand for apparel across the region. This, in turn, is expected to fuel the acrylic fibers market in Asia Pacific. Manufacturers in Europe and North America are primarily engaged in developing advanced technologies for manufacturing acrylic fibers.

Global Acrylic Fibers Market: Key Players  

Prominent players operating in the global acrylic fibers market include Bayer AG, TORAY INDUSTRIES, INC., Indian Acrylics Limited., DowAksa, LLC, Radici Partecipazioni SpA, Sudamericana de Fibras SA, and Sterling Fiberss Inc. The global acrylic fibers market is dominated by large numbers of players. It is fragmented in nature.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Acrylic Fibers Market

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