Market Research Report
Global Acrylic Fibers Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||612934|
|Published||Content info||112 Pages
Delivery time: 1-2 business days
|Global Acrylic Fibers Market 2019-2023|
|Published: May 2, 2019||Content info: 112 Pages||
Rise in demand from developing countries will be a major factor driving the growth of the global acrylic fibers market. The use of acrylic fibers as industrial fibers for various applications, such as construction and automobiles, is expected to drive the acrylic fibers market. The market in developing countries, mainly China, India, Indonesia, Brazil are witnessing significant growth. Technavio' s analysts have predicted that the acrylic fibers market will register a CAGR of nearly 3% by 2023.
The increase in the demand for fibers in yarns for the production of apparel and household textiles is expected to positively impact the market. They are used in thermal wear, outerwear pile fabrics, sweaters and wool clothes due their moisture resistance properties. The increase in the demand for acrylic fibers for the production of apparel and home textiles is expected to drive the growth of the global acrylic fibers market.
The growing use of acrylic fiber substitutes for the production of yarns and fabrics is expected to hinder the growth of the global acrylic fibers market. The fibers are mainly used in textiles owing to their environment-friendly and versatile nature.
For the detailed list of factors that will drive and challenge the growth of the acrylic fibers market during the 2019-2023, view our report.
The market appears to be highly fragmented and with the presence of several companies including Thai Acrylic Fibre Co. Ltd. and Toray Industries Inc the competitive environment is quite intense. Factors such as the rise in demand from developing countries and growth in textile and apparel industry, will provide considerable growth opportunities to acrylic fibers manufactures. Aksa Akrilik Kimya Sanayii AS, Dralon GmbH, Formosa Plastics Group, TAEKWANG INDUSTRIAL Co. Ltd., Thai Acrylic Fibre Co. Ltd., and Toray Industries Inc. are some of the major companies covered in this report.