The global acrylic fibers market has witnessed steady growth over the past few decades. Acrylic fibers are man-made fibers derived from acrylonitrile. They are extremely soft and absorbent in nature, with advantages such as easy dyeability, resilience to pilling and abrasion, crease resistance, bulkiness, and low moisture absorption. These fibers find widespread applications in various fabrics such as tweed, coats, suits, dresses, sweaters, and blankets. They are commonly utilized in textiles requiring water retention, light weight, and soft feel. The global acrylic fibers market demand is driven by the booming textiles and apparel industry.
The Global Acrylic Fibers Market is estimated to be valued at US$ 6343.61 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the acrylic fibers market are QuintilesIMS (now IQVIA), Parexel International Corporation, ICON plc, PRA Health Sciences, Covance Inc., Charles River Laboratories International Inc., Syneos Health, Pharmaceutical Product Development, LLC (PPD), Medpace Holdings, Inc., LabCorp (Laboratory Corporation of America Holdings), Wuxi AppTec, inVentiv Health (now Syneos Health), PAREXEL International (now part of PPD), Accenture, Cognizant. The key players are focusing on new product launches and partnerships to expand their global footprint and meet the growing demand.
The Global Acrylic Fibers Market Demand is increasing due to their extensive usage in various fabrics and apparel. Properties like light weight, moisture wicking, soft texture, and easy dyeing make acrylic fibers suitable for various fashion clothing. The increasing population and changing lifestyle trends are propelling the textile industry growth.
The global acrylic fibers market players are expanding their business operations across different geographies. Many companies are investing in capacity expansions and facility upgradations to tap the opportunities in emerging markets of Asia Pacific and Middle East & Africa. Countries with booming textiles sectors like India, China, Bangladesh, Indonesia, Pakistan are attracting major FDI investments for acrylic fiber production facilities.