Acrylic Fibers Market

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Global Acrylic Fibers Market Is Estimated To
Witness High Growth Owing to Growing Demand for
Sustainable and Lightweight Fibers The global
acrylic fibers market is estimated to be valued
at US 5,294.3 Mn in 2022 and is expected to
exhibit a CAGR of 4.01 over the forecast period
2023-2030, as highlighted in a new report
published by Coherent Market Insights. A)
Market Overview Acrylic fibers are synthetic
fibers made from a polymer called
polyacrylonitrile. These fibers are widely used
in various industries, including textiles, home
furnishings, automotive, and others. Acrylic
fibers offer properties such as excellent
colorfastness, high strength, durability, and
resistance to chemicals, which make them
suitable for a wide range of applications. These
fibers find extensive usage in carpets,
apparels, blankets, upholstery, and industrial
filters, among others. B) Market Dynamics 1.
Growing Demand for Sustainable Fibers The rising
awareness regarding sustainable and eco-friendly
products is driving the demand for acrylic
fibers. These fibers are considered more
sustainable compared to natural fibers such as
cotton and wool, as they require less water,
land, and energy for production. Additionally,
acrylic fibers can be easily recycled, further
reducing their environmental impact. This
increasing focus on sustainability is expected to
propel the growth of the acrylic fibers market.
2. Lightweight and Versatile Nature Acrylic
fibers are lightweight and possess excellent
insulation properties, which make them suitable
for various applications. The automotive
industry, in particular, is witnessing a growing
demand for lightweight materials to improve fuel
efficiency and reduce emissions. Acrylic fibers
find extensive usage in automotive interiors,
including seat covers, dashboards, and door
panels, due to their lightweight and versatile
nature. The increasing demand for lightweight
materials in industries such as automotive and
aerospace is expected to drive the growth of the
acrylic fibers market. C) SWOT Analysis
Strengths - Excellent colorfastness - High
strength and durability Weaknesses - Limited
heat resistance - Prone to pilling and fuzzing
Opportunities - Growing demand for
eco-friendly fibers
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- Increasing usage in technical textiles
Threats - Competition from other synthetic
fibers - Fluctuating raw material prices D) Key
Takeaways - The global acrylic fibers market is
expected to witness high growth, exhibiting a
CAGR of 4.01 over the forecast period, due to
increasing demand for sustainable and lightweight
fibers. - In terms of regional analysis, Asia
Pacific is expected to be the fastest-growing and
dominating region in the acrylic fibers market.
The region is witnessing rapid industrialization,
urbanization, and a growing population, leading
to increased demand for textiles and home
furnishings. - Key players operating in the
global acrylic fibers market include Aksa Akrilik
Kimya Sanayii A.S. (Aksa), Dralon, Aditya Birla
Group, Jilin Chemical Fibre Company, Taekwang
Industrial Co., LTD, Exlan Japan Co., Ltd.,
Kaneka Corporation, Indian Acrylics Limited,
Pasupati Acrylon Ltd., and Vardhman Acrylics Ltd.
These players are focusing on product
innovation, collaborations, and expansions to
strengthen their market position and cater to
the growing demand for acrylic fibers. Overall,
the acrylic fibers market is poised for
significant growth in the coming years, driven by
the increasing demand for sustainable and
lightweight fibers across various industries. The
market players need to focus on strategic
partnerships and product development to
capitalize on the emerging opportunities in the
market.