Acrylic Fiber Market Growth, Trends and Forecasts 2019 to 2023 - Aksa Akrilik Kimya Sanayii A.Ş. (Aksa), Dralon, Thai Acrylic Fiber Co.Ltd., Kaltex, Indian Acrylics Limited, Pasupati Acrylon Limited, SINOPEC, Formosa Plastic Group and Polymir

Acrylic Fiber also known as a synthetic fiber in its character resembles the wool closely. Acrylic Fibers contain minimum 85% acrylonitrile in their chemical structure and are lightweight, soft, warm, and easy to wash with excellent dimensional stability.

Acrylic Fibers demonstrate high resistance to UV rays and chemical reactions; they have excellent color fastness and can be dyed with any color. As a result, Acrylic Fibers witness extensive demand from the apparel industry and house-furnishing Industry. Consequently, the acrylic fiber market perceives exponential growth on the global platform.

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Acknowledging the colossal growth the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the Global Acrylic Fiber Market will reach approximately 5,000 MN. USD registering approximately 1.38% CAGR over the forecast period (2017 - 2023).

Industry/ Innovation/ Related News:

November 08, 2018 – China National Chemical Fiber Corp. distributor and marketer of textile raw materials announced the signing of an agreement with OAO Naftan an open Joint-Stock Company producing and selling fuels, lube oils and bitumens, aromatic hydrocarbons, and petrochemicals to deliver acrylic fibers worth USD 12 MN.

November 07, 2018 – China imposed higher anti-dumping tariffs on acrylic fiber from South Korea. China’s commerce ministry will levy taxes of 8.6 percent on products from Taekwang Industrial and 21.7 percent on those of other Korean companies following a midterm dumping review.

Key Players:

Fervent players leading the global acrylic fiber market include Akrilik Kimya Sanayii A.Ş. (Aksa), Thai Acrylic Fiber Co.Ltd., Dralon, Jilin Qifeng Chemical Fiber Co.Ltd., Indian Acrylics Limited, Kaltex, SINOPEC, Polymer, Formosa Plastic Group, and Pasupati Acrylon Limited.

Global Acrylic Fiber Market – Geographical Analysis

The Asia Pacific region accounts for the leading market for acrylic fibers, globally. Factors substantiating the market growth include the increase in urban households, new applications of acrylic fibers, and the augmented sale in apparels led by the rapidly growing online fashion market in the region. Some APAC countries such as South Korea, Taiwan, and India are strengthening the market in the region, putting it in the leading position.

Growing markets in China, South Africa, Brazil, and India backed by the cost-competitive production methods of acrylic fibers fosters the growth of the regional market majorly. The APAC region is blessed with the ample availability of natural resources, raw materials, and workforce.

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Markets in the emerging economies perceive immense growth in the acrylic fiber market due to their easy and cost-effective manufacturing processes. These countries are involved in the large production of the staple as well as filament fibers. China heading with its vast textile production accounts for the largest market for acrylic fibers in the region. Besides, most of the major manufacturing plants of acrylic fiber are based in far-east Asia.

North America’s acrylic fibers market closely follows the APAC market owing to the increasing the consumption of the product in the region. The European market for acrylic fibers accounts for the third largest market followed by the Latin American region and the Middle East owing to the growing applications of the different types of fibers such as wool, cotton, silk, viscose, and nylon among others.

Global Non-Woven Adhesive Market – Competitive Landscape

Adorn by numerous well-established players with the regional & global presence, the market looks fiercely competitive. These players incorporating acquisition, collaboration, expansion, & technology launch gain a competitive advantage and maintain their market position. Major players driving the market growth are committed to delivering reliable, leading-edge products & services.

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