Lucintel Forecasts Acrylic Fiber Market to Reach $6.0 Billion by 2028

Acrylic Fiber Market

Posted on 2023-07-24 by Lucintel in Marketing // 0 Comments

CITY, Country, 2023-Jul-24 — /EPR Network/ —

According to the recent study the acrylic fiber market is projected to reach an estimated $6.0 billion by 2028 from $5.1 billion in 2023, at a CAGR of 3.2% from 2023 to 2028. Growth in this market is primarily driven by growing demand for apparels in the fashion industry, increasing usage of acrylic fibers in the household furnishings, and establishment of strong e-commerce channels globally.

A more than 150 – page report is developed to understand trends, opportunities and forecast in acrylic fiber market by dyeing method (acid, gel, and undyed), form type (staple fibers and filament fibers), blending (wool, cotton, cellulose, and others), end use industry (apparels, home furnishing, industrial, outdoor, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

“Filament fibers market is expected to remain the largest segment during the forecast period.”

Based on form type, the acrylic fiber market is segmented into staple fibers and filament fibers. Lucintel forecasts that the filament fibers market is expected to remain the largest segment because these fibers can be stretched into long and thin filaments, which are longer than their original length and then spun into yarns, thus reducing the cost and improving manufacturing efficiency of the final product.

“Within the acrylic fiber market, the apparel segment is expected to remain the largest end use industry”

Based on end use industry the apparel segment is expected to witness the highest growth over the forecast period due to changing lifestyle, evolving fashion industry, and growing application of acrylic fibers in sweaters, sportswear, children’s clothing, and socks.

“Asia pacific will dominate the acrylic fiber market in near future”

APAC will remain the largest segment over the forecast period due to the growing investment in textile and apparel sector and presence of major players in the region.

Major players of acrylic fiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Aditya Birla Group, Indian Acrylics, Kaneka Corporation, DOLAN GmbH, Japan Exlan, Vardhman Acrylics, Toray Industries, Formosa Plastics Corporation, and Chemtex Company are among the major acrylic fiber providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

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