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Acrylic fibers are the synthetic fibers synthesized from polymers, mostly polyacronitrile with an average molecular weight of 1000000 units which is almost 1900 monomer units. They are resistant to UV degradation, microbial outbreak, bleaching agents, and weak alkalis. Acrylic fiber offers high stability, elasticity, and low specific mass and therefore are broadly used in manufacturing apparels.
Increasing demand for apparels from fashion industry is driving the market growth. Exceptional properties like washability, UV resistance, microbial attack-resistance, availability in multiple colors, and resistance to shrinkage is driving the demand for acrylic fiber.
However, there are various other fiber materials present in market such as polyester fibers. Availability of such alternatives is expected to hinder the market growth.
Key Market Driver -
Growing demand for apparels from fashion industries.
Key Market Restraint -
Presence of alternatives
Based on form type the market is segmented into staple fiber and filament fiber. Based on application, market is segmented apparels, household furnishings, industrial, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Acrylic Fiber market consists of global & regional players operating. Some of the key players in the market include Bayer AG, Indian Acrylics Ltd, Toray Industries, Sterling Fibers Inc., Dralon, Aditya Birla Chemicals, Formosa, Pashupati Acrylon, and others.
The acrylic fiber market has been segmented. into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold the prime share in market. China is the largest manufacturer for acrylic fibers. Additionally, increasing demand for apparels from densely populated countries like India and China shall drive regional growth. North America is expected to hold significant share due to the rise in disposable income and substantial expenditure. Europe is expected to show considerable growth due to the demand for anti-microbial and UV resistant apparels from healthcare and other sectors. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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