Monday, 06 December 2021 11:49 GMT

Business Report: Acrylic Fibers Market To Surpass US$ 6,225.2 Mn By 2027

(MENAFN- EIN Presswire) SEATTLE, UNITED STATES, November 22, 2021 / / -- Acrylic Fibers Market is growing rapidly with rising applications of acrylic across apparel as well as fashion industry in emerging economies

Market Overview

Acrylic Fibers are mainly found in Europe and they are mainly made from the organic material of plants like cotton, hemp-based plants like bamboo. However, before the manufacturing of the plastic is carried on the raw materials have to be gathered from different natural sources. The material is then processed into the desired shape by heat treatment and then they are treated into the synthetic material. The manufacturing of plastic is thus carried on with the help of the natural raw material in Europe. Acrylic fibers are created using a method that is referred to as 'injection molding'. This type of process can be done for both solid and liquid materials as well as for various shapes and sizes.

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Market Dynamics

High demand for applications in apparel is expected to propel the global acrylic fibers market growth over the forecast period. Strong and warm acrylic fibers are widely used in tracksuits and sweaters. Furthermore, they are also used as linings for gloves and boots as well as in carpets and furnishing fabrics. Acrylic fibers are very resilient as compared to both natural and synthetic fibers. As a matter of fact, some acrylic fibers are a less expensive alternative to cashmere due to the similar texture of the material. As a result of this, the demand for acrylic fibers has increased. Therefore, these factors are expected to propel the global acrylic fibers market growth over the forecast period.

However, extensive availability of alternatives such as polyester and strict regulatory policies on the production of acrylic fiber is expected to restrain growth of the global acrylic fibers market during the forecast period.

Impact of COVID-19

The outbreak of the COVID-19 pandemic has massively impacted growth of the global acrylic fibers market. Following the pandemic, many countries decided to implement nationwide lockdown policies, in order to curb the spread of the virus. Manufacturing companies had to shut down their operations, in order to comply with regulations, which further impacted growth of the said market. However, the rollout of vaccines and many countries undertaking mass vaccination programs is expected to aid in regaining the lost traction of the market in the near future.

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Key Takeaways

•The global acrylic fibers market is expected to expand, exhibiting a CAGR of 3.9% over the forecast period. This is owing to technological innovation in the sustainable production of acrylic fiber.

•Among regions, Asia Pacific is expected to witness significant growth in the global acrylic fibers market during the forecast period. Rising demand from urban households and rapid growth fashion industry across emerging economies such as China and India.

•Key companies involved in the global acrylic fibers market are Aditya Birla Management Corporation Pvt. Ltd, Aksa Akrilik Kimya Sanayii A.Ş., Mitsubishi Chemical Corporation, Japan Exlan Co. Ltd., Pasupati Acrylon Ltd, Vardhman Acrylics Ltd, Dralon, and Toray Industries Inc.

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