Global Acrylic Fiber Market Is Expected To Reach USD 6.18 Billion by the Year 2024

(EstateNewsWire.com, January 06, 2018 ) The Global Acrylic Fiber market Share is estimated to grow up to USD 6.18 Billion by 2024 at a CAGR of 3.5% from 2018-2024. This report elucidates the potential of Global Acrylic market in the present and the prospects. The factors enhancing the growth of Global Acrylic market include inflating demand in blending applications and use of acrylic fiber in manufacturing boat covers, carpets, outdoor furniture, awnings, etc.
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Staple fiber contribute to the most significant share in Global Acrylic Fiber market
By fiber form, the market is segmented into staple and filament fiber. Among these, the staple fiber is expected to have a high growth in the demand for Acrylic fiber. The staple fiber will have a high growth of the market during the forecast period. The synthetic fibers like nylon and polyester are considered as filament fibers. The natural fiber silk is also a filament fiber, but when filament fibers are cut short, they are called as staple fibers. By blending the market is segmented into cotton, wool, and others. Among these, the cotton blending dominates the market for Acrylic fiber during the forecast period. The blended cotton fabrics have high growth in the acrylic fiber market due to increased consumer demand for styling, comfort and natural fibers.
Apparels are expected to have a considerable growth during the forecast period
By application, the market is segmented into house-hold furnishing, industrial, clothing and others. Among these, the Apparels end-user segment has the highest market share in the Acrylic fiber market. The attributes enhancing the growth of apparel industry in demand for Acrylic fiber include changing lifestyle, changing climatic conditions and increase in standard of living. The apparel industry of acrylic fiber consists of children wear, sweaters, fleece wear, socks, circular knit apparel and sportswear among others. The market is also predicted to notice the high consumption of acrylic fiber in household furnishing is achieved by the rise in per capita income and development in furniture industry during the forecast period.
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The Asia Pacific is observed to hold a considerable market for Acrylic fiber
In recent years there has been a growing demand for Acrylic fibers and Asia-Pacific will record the highest growth of the market during the forecast period followed by the Middle East and Africa. The main reason for this growth is because of thriving demand for acrylic fibers and increasing number of acrylic fiber manufacturers.
The pivotal players in the Global Network Analytics market include Aksa AkrilikKimyaSanayii A.Ş. (Turkey), Taekwang industrial co. Ltd. (South Korea), Indian Acrylics Limited (India), Vardhman Acrylics Ltd. (India), Aditya Birla Group (India), Exlan Japan Co. Ltd. (Japan), Jilin Chemical Fiber Group Company (China), Kaneka Corporation (Japan) and PasupatiAcrylon Ltd. (India).

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