The acrylic fibers market size is expected to post a CAGR close to 3% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global acrylic fibers market 2019-2023. (Graphic: Business Wire)
The increase in demand for acrylic fibers in blended fabrics is expected to boost the growth of the acrylic fibers market. The growing use of acrylic fibers in the production of blended fabrics, in addition to other fibers such as wool and cotton, is expected to drive market growth. Blending accords better strength, stability, and absorbency to the final fabric. For instance, the blending of wool with acrylic fibers improves the elasticity and durability of the final product. Also, acrylic-blended wool is easy to wash and is resilient. Furthermore, acrylic fibers make the yarn softer and more durable. All these factors are expected to increase the demand for acrylic fibers in blended fabrics during the forecast period.
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As per Technavio, the growth in demand from niche applications will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Acrylic Fibers Market: Growth in Demand from Niche Applications
Currently, acrylic fibers are being used in the production of car batteries and brake lining in the automotive industry. The better durability and fire-retardant properties of acrylic fibers make them suitable for these applications. The increase in demand for passengers and commercial vehicles in APAC is expected to drive market growth. An increase in the use of acrylic fibers in other niche applications such as power generation and automotive industry is also expected to drive market growth during the forecast period.
“The rise in preference for intelligent textiles is another factor that will boost the market growth. Intelligent textiles are fabrics with embedded electronic components such as conductors, sensors, integrated circuits, and LED lights that offer protection and safety, and health monitoring. Currently, these features are mostly found in sportswear, and the data provided by these smart fabrics helps players and coaches in improving performance. Thus, the growing interest toward a healthy lifestyle is expected to drive the demand for intelligent textiles during the forecast period,” says a senior analyst at Technavio.
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Acrylic Fibers Market: Segmentation Analysis
This market research report segments the acrylic fibers market by type (staple and filament) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by MEA, Europe, North America, and South America, respectively. The dominance of APAC can be attributed to the rapid industrialization and urbanization, which has led to the growth of the construction, automotive, and manufacturing industries boosted by high investments from the public and private sector enterprises.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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