Jul 11, 2020   SOURCE: BusinessWire

Global Modacrylic Fiber Market: Growth, Trends and Forecast (2020-2025) - ResearchAndMarkets.com

The "Global Modacrylic Fiber Market: Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The global modacrylic fiber market is expected to register a CAGR of over 4% during the forecast period.

One of the main factors driving the market is the growing demand for modacrylic fiber for use in protective apparel. However, an EPA regulation on the use of residual monomers in modacrylic fiber is expected to hinder the growth of the market studied.

Key Highlights

  • By application, modacrylic fiber in protective apparel is expected to dominate the market over the forecast period.
  • Growing demand for modacrylic fiber as hair fiber is likely to act as an opportunity for the market studied in the coming years.
  • The Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as China and India.

Market Trends

Growing Demand for Modacrylic Fiber for Use in Protective Apparel

  • Modacrylic fiber is a manufactured fiber in which the fiber-forming substance is any long-chain synthetic polymer composed of less than 85% but at least 35% by weight of acrylonitrile units.
  • Modacrylic fiber is widely used in high-performance protective clothing, such as firefighting turnout gear, because the material possesses flame resistance combined with other desirable textile properties, such as durability and good hand feel.
  • Technological advancements in the artificial fur industry have encouraged fashion designers, retailers, and apparel manufacturers to shift from animal fur to synthetic furs, such as faux fur, for manufacturing their products.
  • The Occupational Safety and Health Administration has developed regulations to provide flame retardant apparel or clothing to employees who are exposed to the hazards of flames or electric arcs in the work premises.
  • Hence, owing to the above-mentioned factors, the application of modacrylic fiber in protective apparel is likely to dominate the market during the forecast period.

Asia-Pacific Expected to Dominate the World Market

  • The Asia-Pacific region is expected to dominate the market for modacrylic fibers during the forecast period. The rising demand for hair fiber, along with the growing populations in developing countries, like China and India, is expected to drive the demand for modacrylic fiber in this region.
  • The largest producers of modacrylic fibers are in the Asia-Pacific region. Some of the leading companies in the production of modacrylic fiber are Kaneka Corporation, Aditya Birla Management Corporation Pvt. Ltd, Formosa Plastics Corporation, Aksa, and Dralon, among others.
  • China is the top producer of fabrics that are utilized in various segments of fabric applications, along with being the leading exporter of upholstered furniture in the world.
  • Owing to the above-mentioned factors, the market for modacrylic fibers in the Asia-Pacific region is projected to grow significantly during the study period.

Competitive Landscape

The global market is partially fragmented in nature with only a few major players dominating the market. Some of the major companies are Kaneka Corporation, Aditya Birla Management Corporation Pvt. Ltd, Formosa Plastics Corporation, Aksa Akrilik Kimya Sanayi AS, and Dralon, among others.

Key Topics Covered

1 INTRODUCTION

1.1 Study Assumptions

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Demand for Modacrylic Fiber for Use in Protective Apparel

4.1.2 Other Drivers

4.2 Restraints

4.2.1 EPA Regulations on Use of Residual Monomers in Modacrylic Fiber

4.2.2 Other Restraints

4.3 Industry Value Chain Analysis

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Application

5.1.1 Protective Apparel

5.1.2 Hair Fiber

5.1.3 Industrial Fabric

5.1.4 Modacrylic Pile

5.1.5 Upholstery & Household

5.1.6 Other Applications

5.2 Geography

5.2.1 Asia-Pacific

5.2.2 North America

5.2.3 Europe

5.2.4 South America

5.2.5 Middle-East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share/Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 Kaneka Corporation

6.4.2 Aditya Birla Management Corporation Pvt. Ltd.

6.4.3 Formosa Plastics Corporation

6.4.4 Aksa Akrilik Kimya Sanayi AS

6.4.5 Dralon

6.4.6 Grupo Kaltex SA de CV

6.4.7 Pasupati Acrylon Ltd.

6.4.8 Japan Industrial Co. Ltd.

6.4.9 Fushun Rayva Fiber Co. Ltd.

6.4.10 China Petrochemical Corporation

6.4.11 FCFA

6.4.12 Jiangsu Jinmao International E-Commerce Co. Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Growing Demand for Modacrylic Fiber as Hair Fiber

7.2 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/p6616w