Acrylic Fibers Market to experience an impressive growth of 1.3% during 2018-2023

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Acrylic Fibers Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Acrylic Fibers Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

The Acrylic Fibers Market: Highlights
The acrylic fibers market is likely to grow at a modest CAGR of 1.3% over the next five years. Acrylic fibers are lightweight and have softness and warmth. They also offer excellent resistance to ultraviolet degradation, microbiological attack, weak alkalis, and laundry beach. Over the past some years, acrylic fibers have been facing tough competition from low-cost fibers including polyester fibers. Polyester fiber has a lower cost, excellent raw material availability, and recyclability. The global export of acrylic fibers has significantly declined in the recent years and this situation seems to prevail in the foreseeable future.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Form Type : Staple Fiber, Filament Fiber
• by Blending Type : Wool, Cotton and Others
• by End-Use Industry : Apparel, Household Furnishings and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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Market Segments
Based on the form type, the acrylic fibers market is segmented as staple fibers and filament fibers. Staple fibers currently account for three-fourths of the total market and are expected to maintain their dominance in the market over the next five years.
Based on the blending type, the market is segmented as wool, cotton, cellulose, and others. Wool is estimated to remain the largest segment of the market over the next five years. The key whys and wherefores for blending wool with acrylic fibers are to obtain non-itchy, more affordability, and comfort properties.
Based on the end-use industry type, the market is segmented into apparel, household furnishing, industrial, and others. The apparel segment currently holds the largest share of the market and is also estimated to grow at the highest CAGR during the forecast period.
In terms of regions, Asia-Pacific holds the largest chunk of the market and is expected to remain the most dominant market in the foreseen future. Asia-Pacific alone holds more than 60% of the total capacity of acrylic fibers, mainly in China. China currently accounts for almost 43% of the total acrylic fibers market and is projected to remain the largest market in the region over the next five years
India is likely to be the new growth engine of the region’s market for acrylic fibers in the coming years, driven by rising population, increasing disposable income, and changing lifestyle.
The Middle East & Africa, the second largest market after Asia-Pacific, is likely to grow at a healthy rate over the next five years, driven by Saudi Arabia, the UAE, and Qatar. It is estimated that these countries will remain to play a pivotal role in driving the demand for acrylic fibers in the region in the foreseen future.

Players
The competitive landscapes of the market keep changing with the dominance of China is gradually increasing. Several Chinese players started emerging as the major players as they started serving the growing local demand as well as targeting growing neighboring countries like China. Also, the major players have been working hard to develop advanced products meeting the changing market requirements as well as gaining a larger chunk of the market. For instance; the development of eco-fur, special fibrillated acrylic fiber, and anti-pilling fibers are such examples that are developed to address the existing market needs. Some of the key acrylic fibers manufacturers are Aksa Akrilik Kimya Sanayii A.S., Dralon, Kaltex, Pasupati Acrylon Limited, Formosa Plastics Group, and JILIN QIFENG CHEMICAL FIBER CO.LTD.

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This release was published on openPR.