ACRYLIC YARN MARKET REPORT OVERVIEW
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The global acrylic yarn market size was USD 7762.4 million in 2021 and is expected to reach USD 10231.9 million in 2031, exhibiting a CAGR of 2.8% during the forecast period.
Acrylic yarns are a duplication of original wool and cotton yarns. It is industrialized to mimic its usual fiber cousins, such as cotton and wool, at a low cost and in greater quantity. The major alteration between acrylic and natural yarns is in the threads themselves. They are manufactured from petroleum products by melting and extruding the materials into long, thin threads. Manufacturing technology is altering and producers linger to modernize to produce acrylics with a varied assortment of quality and strength.
The main feature motivating the growth of the market contains the increasing demand for the consumption of clothing. Acrylic fabrics are known for their great performance and expensive impression. They have a very small precise gravity, which makes them very light. They are easy to wear in dry and cold environments owing to their high humidity control and lining. These threads are widely used as a substitute for wool owing to their temperature retention, figure retention, and quick-dry abilities. They are also used for developing synthetic cotton, which is moderately less.
COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with acrylic yarn experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the acrylic yarn market growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic has hit textile manufacturing which caused a downtrend in profits noted from the textile industry during 2020. The textile industry suffered a loss and half the businesses in the textile and related sector have experienced shut down, leaving more people jobless. The market was adversely crushed by COVID-19 in 2021, as the pandemic caused the slowdown of industries, fabrication, and industrialized services, ensuing in less economic activity. Though, the market is excepted to improve during the coming years.
LATEST TRENDS
"Increasing Demand for Acrylic Yarn to Boost Market Growth"
The rising use of acrylic yarn in the fabrication of combined fabrics, in addition to other fibers such as wool and cotton, is expected to drive market growth. Combination consensuses improved strength, steadiness, and permeability to the closing fabric. For instance, the combination of wool with acrylic fibers recovers the resistance and toughness of the final product. Also, acrylic-blended wool is easy to rinse and is resilient. Moreover, it makes the yarn softer and more sturdy. Therefore, the growth in the use of acrylic threads for blended textiles is anticipated to influence the market growth during the forecast period.
ACRYLIC YARN MARKET SEGMENTATION
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- By Type Analysis
As per type, the market is classified into 100% acrylic yarn and blended acrylic yarn.
- By Application Analysis
Based on application, the market is categorized into the garment industry and home textiles industry.
DRIVING FACTORS
"Advanced Features of Acrylic Fibers to Facilitate Market Development"
Acrylic fibers are created from acrylonitrile, which is generally shared with small amounts of additional petrochemicals, to improve the capability of the successive fiber for dye absorption. They are recognized for their wicking ability and dye absorption, which are the foremost causes for fabric creators to choose acrylic fibers. These fibers are widely used as an additional for yarn, owing to their heat retention, shape retention, and quick-dry qualities. They are also used for engineering synthetic cotton, which is moderately less. They are used for making comfortable apparel that has good moistness control, such as thermal wear, outerwear pile fabrics, fabrics, wool cloths, sports clothing, tights, children’s clothing socks, and sweaters.
"Growing Urbanization to Foster Industry Progress"
The fast progress in urbanization and the growing necessity for businesses are the main factors that are expected to fuel market growth. The modification in consumer inclination towards reasonably priced and comfy apparel surges the demand for good quality clothes such as silk, hemp, and viscose. Combined variations of fibers are also enchanting huge growth in the market due to substantial features of both natural and synthetic yarn, therefore, opening up innovative advanced prospects during the forecast period.
RESTRAINING FACTORS
"Side Effects to Hinder Market Progress "
The procedure of developing acrylonitrile, the key chemical in manufacturing acrylic yarns, has a substantial carbon impression. The petroleum goods used in engineering are not ecological, and the product itself may be hazardous. Acrylic yarns endure having an undesirable environmental effect throughout their lifespan. Every time the yarn is washed away, it discharges minute fibers named microplastics into the water source.
ACRYLIC YARN MARKET REGIONAL INSIGHTS
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"Increasing Number of Production Units to Propel Market Progress in Asia Pacific"
Asia Pacific and Africa held the largest acrylic yarn market share. China is the major economy in terms of GDP. The upsurge in population and increasing demand for acrylic yarn from India is enhancing factor for the acrylic fiber market in the coming years. Nearly all of China’s main industrial corporations have supposedly restarted manufacturing. Due to the demand from international and domestic markets, mainly from Europe, the U.S., and Japan, the textile industry in China has extended over the years.
KEY INDUSTRY PLAYERS
"Incorporation of Research and Development Strategies to Improve their Brand Image"
The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for the global acrylic yarn market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Aditya Birla Yarn (Indonesia)
- Indorama (Thailand)
- Hengfeng Group (India)
- Chenab Textiles Mills (India)
- Taekwang (South Korea)
- Shenghe Textile (China)
- Weifang Jinyi Shaxian (China)
- Sesli (South Africa)
- Geetanjali Woollens (India)
- PT ACTEM (Indonesia)
INDUSTRY DEVELOPMENT
- May 2019: Weiqiao Textile Company Limited constructed a new fully-automated, smart spinning and weaving manufacturing line in the Shandong area of China at an expected share of RMB 820 million.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 7762.4 Million in 2021 |
Market Size Value By |
US$ 10231.9 Million by 2031 |
Growth Rate |
CAGR of 2.8% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type, Application & Region |
Frequently Asked Questions
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What value is the acrylic yarn market expected to touch by 2031?
Based on our research, the acrylic yarn market is projected to touch USD 10231.9 million by 2031.
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What CAGR is the acrylic yarn market expected to exhibit by 2031?
The acrylic yarn market is expected to exhibit a CAGR of 2.8% by 2031.
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Which are the driving factors of the acrylic yarn market?
Growing urbanization and advanced features of acrylic fibers are the factors driving the acrylic yarn market.
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Which are the top companies operating in the acrylic yarn market?
Aditya Birla Yarn, Indorama, Hengfeng Group, Chenab Textiles Mills, Taekwang, Shenghe Textile, Weifang Jinyi Shaxian, Sesli, Geetanjali Woollens, PT ACTEM, are the top companies operating in the acrylic yarn market