Modacrylic Fiber Market size was valued at USD 550.0 Million in 2021 and is projected to reach USD 866.4 Million by 2031, growing at a CAGR of 4.7% from 2022 to 2031
OREGON, PORTLAND, USA, August 25, 2022 /EINPresswire.com/ — The Global modacrylic fiber market generated revenues worth $550.0 million in 2021 and is expected to reach $866.4 million by 2031, registering a CAGR of 4.7% from 2022 to 2031. According to the report published by Allied Market Research, the market study provides detailed analysis of changing industry trends, most important segments, value chain analysis, key investment business scenarios, regional space and competitive space. The study is a key source of information for giant players, entrepreneurs, shareholders and owners to generate new strategies for the future and take action to improve their market position. The report presents an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly changing industry.
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Major players of the global modacrylic fiber market analyzed in the research include Aksa Akrilk, Kimya sanayii AS, Zhangjiagang Hengfeng Textile Company Limited, China National Petroleum Corporation, ChinaTexNet.com, Toray Industries, Inc., Formosa Chemicals & Fiber Corporation, Grupo Kaltex, GT , Japan Chemical Fiber Association, TenCate Protective Fabrics, Kaneka Corporation, TAEKWANG Industrial Co. Ltd., Shanghai Changjie Textile Company Limited, Xinke Special Textile Co., Ltd. and Zhejiang Wangzhuo Knitting Co., Ltd.
The report assesses these major players in the global modacrylic fiber industry. These participants have implemented a host of key business strategies such as regional and customer base expansion, product development, strategic collaborations and joint ventures to extend product breadth in global markets. The market research report supports tracking the performance of each segment, the positioning of each product in the respective segments, and the impact of new technologies and product launches on the overall market size.
Report coverage and details:
Report Coverage: Details
Forecast period: 2022¬–2031
Base year: 2021
Market size in 2021: $550.0 million
Market size in 2031: $866.4 million
Number of pages in the report: 247
Segments Covered: Type, Application and Region.
Engines: Extensive use of modacrylic fiber materials in the production of hair fibers and various other garments.
Wide application of modacrylic fibers in upholstery, textile, automobile, apparel, velvet and various other industries.
High thermal stability, corrosion resistance and high strength have improved the use of modacrylic fibers in thermal insulation.
Opportunities: The increase in baldness due to hair loss in people leads to a huge demand for hair care products.
Constraints: Soaring costs of raw materials such as vinyl chloride and acrylonitrile and the toxic nature of the product.
• COVID-19 pandemic has negatively impacted the expansion of the global modacrylic fiber market, due to disruptions in supply chain activities across the globe.
• Shutdown of various manufacturing units across the globe during the protracted period of the COVID-19 pandemic has resulted in low production of modacrylic fibers, thus hampering the growth of the global market.
The report offers detailed segmentation of the global modacrylic fiber market based on type, application, and region. It provides in-depth analysis of each segment and sub-segment in tables and figures through which consumers can draw conclusion about market trends and outlook. Market report analysis helps organizations, investors, and entrepreneurs to understand which sub-segments are to be tapped to achieve huge growth in the coming years.
In terms of type, the industrial-grade segment contributed the largest market share in 2021, accounting for nearly two-thirds of the overall global modacrylic fiber market share. Moreover, this segment is expected to maintain its leading position during the forecast period. Furthermore, the industrial grade segment is expected to register the fastest CAGR of almost 4.9% from 2022 to 2031. The report also provides an overall analysis of segments such as medical grade.
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Based on applications, the protective clothing segment held the largest share in 2021, contributing nearly two-fifths of the overall global modacrylic fiber market share. Moreover, this segment is expected to account for the highest market share by 2031. However, the hair fiber segment is also expected to register the highest growth with a CAGR of almost 5.6% during the period. forecast. The report also provides an overall analysis of segments such as upholstery, modacrylic velor and others.
Based on region, Asia-Pacific contributed the highest market share in 2021, accounting for more than two-fifths of the global modacrylic fiber market share. Moreover, the region is expected to majorly contribute to the global market share in 2031. In addition, the Asia-Pacific modacrylic fiber market is also expected to register the highest CAGR of 5.3% during the period. forecast. The research also analyzes regions such as LAMEA, Europe and North America.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.