Modacrylic fiber is a flame-resistant, synthetic copolymer synthesized from acrylonitrile and other polymers, in tow and staple form. These copolymer fibers are strong, soft, resilient, and dimensionally stable. They are commercially used for various applications such as apparel linings, paint-roller covers, scatter rugs, carpets, work clothing, and as hair in wigs. Modacrylic fibers are widely employed in high-performance protective clothing such as firefighting turnout gear owing to their high degree of flame resistance. They can be molded, stretched, and embossed into special shapes, due to their low softening temperatures. Furthermore, they are commonly utilized in protective clothing, upholstery, drapery, bedding, and carpet industries. The combination of flame retardancy and low density is also useful in furnishings, draperies, and outdoor fabrics.
Modacrylic fibers are also used by technical fabric producers to obtain protective blends in order to manufacture PPE as well as toupees, fleece-type fabric, faux fur fabric, and wigs. Their heat-resistant nature makes them suitable material for toupees and wigs, enabling easy heat styling without damage. Other uses of modacrylics include paint rollers, industrial fabrics, stuffed toys, and filters.
Rising demand for modacrylic fibers is largely attributable to the growing need for hair fiber applications and protective apparel. Increasing standardization and industrialization are also expected to escalate the requirement for protective apparel to ensure the safety of employees. On account of changing lifestyles and rising demand for hair wigs and hair extensions, modacrylic fiber is projected to grow significantly during the forecast period. However, volatile raw material prices are anticipated to cause a hindrance during the forecast period. Moreover, the presence of substitutes such as nylon and rayon is estimated to further impede the development of the modacrylic fiber market during the forecast period.
In terms of geography, the global modacrylic fiber market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Because of the rapid expansion of various industries in China, India, and Japan; the market in Asia Pacific is projected to advance during the forecast period. As a result of the increasing governmental regulations and stringent rules, the usage of fire-resistant materials in industrial and household applications and subsequently the demand for modacrylic fibers is predicted to grow significantly in Europe and North America. Europe is anticipated to dominate the market, followed by North America and Asia Pacific during the forecast period. The modacrylic fiber market in Latin America is likely to expand at a moderate rate during the forecast period, in consequence of the upsurge in end-use industries in the region.
The global modacrylic fiber market is slightly consolidated. Key players operating in this market include KANEKA CORPORATION, Fushun Rayva Fibre Co., Ltd., Fushun Huifu Fire Resistant Fibre Company Limited, and Tianjin GT New Material Technology Company Limited.
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
- 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.