Global Acrylic Fibers Market - Trends, Drivers, and Challenges| Technavio

The global acrylic fibers market is expected to grow at a CAGR of close to 3% during the period 2018-2022, according to a new market research study by Technavio.

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The report presents a comprehensive research of the global acrylic fibers market by form, including staple and filament. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: use of acrylic fibers in blending applications

In the process of blending, different fibers are combined to obtain desired characteristics in one product. Blending helps the fabric to attain color enhancement, strength, and absorbency. It makes washing and spinning easier; it increases the resistance to wrinkling, and it reduces the overall cost. The three methods that are used in blending are opening method, roving method, and spinning method. To obtain enhanced properties in a single fabric acrylic fiber is blended with different materials. Mostly, it is blended with cotton and wool. The combination of acrylic and wool is quite popular in blending as it is a lightweight fabric, easy to wash and has good resiliency, elasticity is good, fabric becomes soft and warm, and has good resistance to sunlight and weathering.

According to a senior analyst at Technavio for specialty chemicals research, "The blending of acrylic fiber with wool proves to be cost-effective as well. As wool is a natural fiber and is expensive and the supply of wool is also limited, thus it is blended with acrylic fiber to produce low price, efficient products. This proves to be a major driver for the growth in the global acrylic fiber market."

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Market trend: eco-friendly fibers

The demand for natural fibers has increased in the past few years due to the growing preference for sustainable development and greener environment-friendly products. Synthetic fibers like nylon, acrylic, and polyester are all derived from petroleum or petroleum-based raw materials. The depleting petroleum resources and shale oil resources along with the environmental regulations over the use of synthetic fibers are the main reasons due to which the interest of consumers is moving towards natural fibers. Some of the popular natural fibers include organic cotton, bamboo, eucalyptus, linen, and hemp.

Market challenge: fluctuation in raw material prices

Acrylic fibers are used over wool as they are cost-effective. The increasing prices are of a great concern in the global acrylic fibers market. Acrylonitrile is the main raw material used for manufacturing acrylic fiber. It is produced by the catalytic ammoxidation of propylene. The main raw materials used for manufacturing acrylonitrile are propylene, ammonia, and air. Propylene is manufactured by two processes called steam cracking of naphtha and catalytic cracking of gas oil.

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