The new report by Expert Market Research titled, ‘Global Modacrylic Fibre Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global modacrylic fibre market, assessing the market based on its application and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
The growth in the global modacrylic fibre market is induced by rising demand for modacrylic protective apparel applications. Modacrylic fibre has many advantageous properties, such as resistance towards heat and flame, which makes it suitable for fireproof protective clothing. The rise in safety issues in the residential, commercial, and transportation sectors has resulted in the standardisation of products used. As authorities standardise occupational safety laws, the market for such clothing is expected to increase. Softness, hardness, dimensional stability, and simplicity of dyeing and styling are only a few of the qualities that make it an excellent material of choice for wigs.
Industry Definition and Major Segments
Modacrylic fibre refers to a synthetic fibre made from long chain acrylonitrile polymers. Its distinguishing compounds are acrylonitrile groups, which account for 35 to 85 percent of its weight. Raw materials include vinyl chloride, vinyl bromide, and vinylidene chloride. Under varying conditions, the fibre is known for being tough, smooth, and dimensionally consistent.
Based on application, the market is divided into:
On the basis of region, the market is divided into:
The surge in demand for modacrylic fibres is primarily due to the growing demand for hair fibre applications and protective clothing. Modacrylic fibre is expected to rise dramatically during the forecast period due to changing habits and increasing demand for hair wigs and hair extensions. However, high raw material costs are expected to be a stumbling block throughout the forecast period. Furthermore, the existence of alternatives such as nylon and rayon are expected to curtail the growth of the modacrylic fibre market during the period of forecast. Technological advances in the artificial fur industry have inspired fashion designers, supermarkets, and clothing companies to switch from using animal fur to using synthetic furs, like faux fur, in the production of their products.
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Key Market Players
The major players in the market are Kaneka Corporation, Aksa Akrilik Kimya Sanayii A.S, Zhangjiagang Hengfeng Textile Co.,Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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