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Acrylic Fiber Market Size to Reach USD 5.31 Billion in 2028: CAGR of 2.3% | Reports and Data
NEW YORK , Aug. 4, 2021 /PRNewswire/ -- The global acrylic fiber market size is expected to reach USD 5.31 billion in 2028 and register a steady revenue CAGR of 2.3% during the forecast period, according to the latest report by Reports and Data. Increasing application of acrylic fibers in the manufacturing of apparel, home textiles, toys, and auxiliary tapes, among others, is a key factor expected to continue to boost demand for acrylic fibers and drive market revenue growth over the forecast period. In addition, unique properties of acrylic fibers such as high resistance to solvents, sunlight, and creasing, and quick drying characteristics have increased adoption in the manufacture of woven and knitted clothing fabrics, carpets, and upholstery. Rising demand for clothing and attire is driven by rapid increase in global population, increasing number of families and individuals opting to purchase homes and apartments is supported by the ongoing urbanization trend, and high demand for automobiles globally is supported by increasing disposable income, changing lifestyle, and improving standard of living among others. These key factors are supporting growth of fabrics, carpets, and automotive industries currently, and driving revenue growth of the acrylic fiber market to a significant extent.
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Acrylic fibers are synthetic fibers made from polyacrylonitrile – a polymer and a comonomer – which is a monomer that reacts with another monomer to produce a copolymer. The fiber has a high resistance to Ultra Violet (UV) degradation and damage from mold, microorganisms, and mildew. Mechanical properties of these fibers allow them to develop bulk and resiliency similar to that of natural wool. Owing to ability to maintain warmth and offer a wool-like feel and attributes, acrylic fibers are often used as a cost-effective alternative for cashmere wool and also widely used in the production of a broad range of products such as socks, sweaters, and home furnishings. Mixing and blending of a variety of acrylic polymer before fibers are created results in specifically engineered properties in materials produced. Incorporation of functional additives in acrylic fibers used in clothing material provides enhanced comfort to the wearer and increases aesthetic appeal.
Increasing penetration of e-Commerce channels, constantly changing fashion trends, and availability of budget-friendly apparel and clothing and wear are other factors contributing to increasing sales of acrylic fibers. However, rising environmental concerns associated with the use of toxic materials in the manufacture of these fibers, high costs associated with recovery of solvents, and availability of alternatives such as polyester are some key factors expected to hamper market growth to a certain extent going ahead.
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For the purpose of this report, Reports and Data has segmented the global acrylic fiber market on the basis of form, blending, application, and region:
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