It's projected that the market for modacrylic fiber will grow from USD 621.9 Million in 2016 to USD 723.7 Million by 2021, at a CAGR of 3.08%. This market is growing due to the increase in the demand for protective apparel and hair fiber applications of modacrylic fiber. Increasing industrialization and standardization will escalate the demand for protective apparel to ensure the safety of employees.
The modacrylic fiber market is segmented on the basis of application and region. Modacrylic fiber is fire resistant which makes it suitable for various household, industrial, and transportation applications. Various countries across the globe, including China, Japan, and the U.S have stringent rules and regulations requiring the use of fire resistant materials such as modacrylic fiber in industrial and household applications.
On the basis of application, the market is segmented into protective apparel, hair fiber, upholstery and household, pile (synthetic/fake fur), and industrial fabrics. The hair fiber segment is projected to grow at the highest CAGR, due to the increasing demand for modacrylic hair wigs and hair extensions.
On the basis of key regions, the market for modacrylic fiber is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The Asia-Pacific market is projected to grow at the highest rate from 2016 to 2021, due to the increasing demand for hair fiber from countries such as Japan, China, and Taiwan. Growing industrial development in the region will also impact the demand for protective clothing, which in turn fuels the growth of the modacrylic fiber market.
There are certain factors in the market that hinder its growth. Some of these are, the fluctuating price of raw materials for modacrylic fibers, lack of awareness and increasing competition from other fibers such as nylon and rayon.
- Formosa Chemicals & Fibre Corporation
- Fushun Huifu Fire Resistant Fibre Company Limited -
- Fushun Rayva Fibre Co., Ltd.
- Jiangsu Blue Peacock Chemical Fiber Co., Ltd.
- Kaneka Corporation
- Nantong Xufeng Textile Industrial Company Limited
- Shanghai Changjie Textile Company Limited
- Tianjin GT New Material Technology Company Limited
- Zhangjiagang Hengfeng Textile Company Limited
- Zhejiang Wangzhuo Knitting Co., Ltd.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Modacrylic Fiber Market, By Application
7 Regional Analysis
8 Competitive Landscape
9 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/xjjjt7/modacrylic_fiber
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