Modacrylic Fiber Market Trends, Technological Advancement, Driving Factors and Forecast to 2031
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Leading players in the global modacrylic fiber market analyzed in the research include Aksa AkrilkKimya sanayii A.S., Zhangjiagang Hengfeng Textile Company Limited, China National Petroleum Corporation, ChinaTexNet.com, Toray Industries, Inc., Formosa Chemicals & Fiber Corporation, Grupo Kaltex, GT, Japan Chemical Fibers Association, TenCate Protective Fabrics, Kaneka Corporation, TAEKWANG Industrial Co. Ltd., Shanghai Changjie Textile Company Limited, Xinke Special Textile Co., Ltd., and Zhejiang Wangzhuo Knitting Co., Ltd.
The report evaluates these major participants in the global modacrylic fiber industry. These participants have executed a slew of key business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding product widths in the global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product launches on the overall market size.
The COVID-19 pandemic adversely impacted the expansion of the global modacrylic fiber market, due to disruptions in supply chain activities across the globe.
Shutdown of various manufacturing units across the globe for the elongated period during the COVID-19 pandemic led to low production of modacrylic fibers, thereby hindering the global market growth.
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The report offers detailed segmentation of the global modacrylic fiber market based on the type, application, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
In terms of the type, the industrial grade segment contributed the largest market share in 2021, accounting for nearly two-thirds of the overall share of the global modacrylic fiber market. Moreover, this segment is predicted to retain its leadership position during the forecast timespan. In addition, the industrial grade segment is set to record the fastest CAGR of nearly 4.9% from 2022 to 2031. The report also provides an overall analysis of segments such as the medical grade.
On basis of application, the protective apparel segment held the largest share in 2021, contributing nearly two-fifths of the overall share of the global modacrylic fiber market. Moreover, this segment is predicted to account for the highest market share by 2031. However, the hair fiber segment is also anticipated to record the highest growth with a CAGR of nearly 5.6% during the forecast timeline. The report also provides an overall analysis of segments such as the upholstery, modacrylic pile, and others.
Based on region, the Asia-Pacific contributed towards the highest market share in 2021, accounting for more than two-fifths of the global modacrylic fiber market share. Moreover, the region is predicted to contribute majorly toward the global market share in 2031. In addition, the Asia-Pacific modacrylic fiber market is also anticipated to register the highest CAGR of 5.3% during the forecast period. The research also analyzes regions including LAMEA, Europe, and North America.
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