Modacrylic Fiber Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2514
Modacrylic Fiber Market Size is projected to witness high demand owing to its mechanical property associated to the flame resistant, acid & base resistant and microbial resistant features. It is a synthetic polymer synthesized from acrylonitrile long-chain polymer.
The product is gaining popularity across various applications due to their very soft, high strength, and dimensionally stable characteristics. Synthetic polymers have a prominent ability that doesn’t support microbial or bacterial infection growth. Increasing consumer awareness for non-contagious fabrics are positively encouraging modacrylic fiber demand in the apparel industry. Thereby, escalating adoption in commercial applications such as apparel lining, wigs, work clothing, scatter rugs, paint roller covers and carpets.
Surging demand for product owing to advantages such as heat resistance and high degree flame-retardant properties will open lucrative opportunities in fireproof clothing application. Outdoor fabrics, draperies, and furnishings will among the key potential applications in this industry. The high demand in these application is associated to its flame-resistant properties.
In 2015 Kaneka Corporation, a Japanese acrylic fabric producing company announced new plant facility in Malaysia. The company has increased production capacity of acrylic fabric over 12,000 tons with the capital investment of USD 84 million. This strategy was to expand its market presence by exporting product majorly in Africa, North America, Europe and the Middle East.
Rapid industrialization and expansion in various industries including chemical processing, military, medical, healthcare, steel, agriculture, oil & energy will encourage market expansion. Need to adopt protective measures for workers while dealing with chemicals, biological contaminants, heat, and radiation risk will instigate demand. Presence of antimicrobial and flame-resistant properties of modacrylic fiber makes the product ideal for protective clothing.
Government initiatives to curb accidents of workers actively implemented health & safety guidelines for manufacturers. In 2008, U.S National Emission Standards for Hazardous Air Pollutants (NESHAP) had set standards to keep maintenance of wastewater, fabric spinning lines and storage vessels for acrylonitrile emissions. Stringent government regulation pertaining to manufacturing and recycling issues due to its negative impact on the environment may hamper modacrylic fiber market growth. As the product is derived from petrochemical sources which will impact the modacrylic fiber market price trend.
The product has major applications in hair accessory product, protective clothing, pile, and apparel. Benefits associated with the ability to be easily stretched and molded into any shapes make a product superficial for industrial applications. Pile is expected to be the fast-growing segment owing to its usage as a wool replacement in the textile market. The fabric is fur-like, warm and resilient materials majorly used in jackets, covers, furs, carpets, and clothing, thus propelling market share.
Modacrylic materials are categorized into vinyl chloride, vinyl bromide, vinylidene chloride. Vinyl chloride is expected to be the fastest growing segment among other polymers owing to its high durability and high acid & base resistant properties. Manufacturing companies produce from wet and spinning methods to enhance dyeing ability and flexibility for further usage. Shifting adoption of synthetic materials in the apparel and clothing production owing to its thermal resistance advantages driving modacrylic fiber market share during the forecast period.
Asia Pacific modacrylic fiber market size is projected to contribute a large share during forecast time. Rapid industrialization, rising population, and growing textile industry are the promising factor stimulating demand. Regional growth is majorly driven by India, China, Vietnam, Pakistan and Bangladesh due to the strong presence of textile industry. The major companies have manufacturing facilities, trade and export capabilities of synthetic polymer in an international trade fueling modacrylic fiber market.
Global modacrylic fiber market share includes Kaneka Corporation, Fushun Rayva, Jiangsu Blue Peacock Chemical Fiber, Zhejiang Wangzhuo Knitting, Shanghai Changjie Textile, Nantong Xufeng Textile, and Zhangjiagang Hengfeng Textile. These companies are focused on new product development by a combination of materials to attract consumers attention and to gain market share. In addition, strategic collaborations and long-term contracts with suppliers are adopting prominent strategies. Other companies are Tianjin GT New Material Technology, Shanghai Modacrylic flame retardant textile, Formosa Chemicals & Fiber Corporation, Fushun Huifu Fire Resistant Fiber, Xinke special textile, and Fushun Rayva Fiber.
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