Modacrylic Fiber Market - Forecast(2023 - 2028)

Modacrylic Fiber Market Overview

Modacrylic Fiber Market size is forecasted to reach US$782.6 million by 2027, after growing at a CAGR of 3.2% during the forecast period 2022-2027. Modacrylic is a modified acrylic fiber that comprises at least 35% by weight but less than 85% of acrylonitrile monomer with any long-chain synthetic polymers. The co-monomers are vinyl chloride, vinylidene chloride, or vinyl bromide. Dynel (acrylonitrile and polyvinyl chloride) and Verel (acrylonitrile and polyvinyl chloride) are two trademarked modacrylic fibres. These substrates are added to the fiber for flame-resistant properties. Modacrylic fibers are soft and warm when made into clothing, are abrasion resistant, very resilient, and have high elastic recovery. Hence it is driven by the textile and furniture industry for its market growth. The growth can be attributed to the increasing demand for formal clothes, sportswear, sleepwear, and blankets from the bolstering textile industry across various regions globally. However, due to their poor conductivity of heat, these fabrics can shrink at high temperatures, which is restricting their market growth. During COVID-19, the growth of modacrylic fiber declined due to decreased transportation, the non-availability of skilled workers in the textile industry, and reduced export/import orders due to restrictions imposed by the government.

Report Coverage

The report: “Modacrylic Fiber Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Modacrylic Fiber Market.

By Co-Polymer – Vinyl Chloride, Vinylidene Chloride, and Vinyl Bromide
By End-Use Industry – Apparel (Sportswear, Simulated Furs, Wigs, Sleepwear, and Others), Fabric (Fleece, Knit-Pile Fabric Backing, Non-Woven, and Others), Furniture (Blankets, Carpets, Curtain, Rugs, and Others) and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

• Asia-Pacific dominates the Modacrylic Fiber Market, owing to the increasing textile industry in the region. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population are the major factors expanding the textile industry in APAC.
• Excellent properties such as flame-resistance, wrinkle-resistant, and self-extinguishing properties are making modacrylic fibers more popular in the textile industry for sportswear, sleepwear, blankets, carpets, curtains, and rugs.
• Modacrylic fibers are used in the textile industry due to their excellent resistance to solvents and chemicals and are not attacked by moths or mildew and are non-allergic which increases the market growth of the modacrylic fibers market.

Figure: Asia-Pacific Modacrylic Fiber Market Revenue, 2021-2027 (US$ Million)

Modacrylic Fiber Market Segment Analysis – By Co-Polymer

The Vinyl Chloride segment held a significant share in the Modacrylic Fiber Market in 2021 and is forecasted to grow at a CAGR of 3.1% during the forecast period 2022-2027. Modacrylic fibers comprise acrylonitrile monomer in the majority with co-monomers vinyl chloride in minority for better flame retardant properties. Although modacrylic fibers can be used with many co-monomers, the best properties are reflected by using vinyl chloride. Another advantage of using vinyl chloride in modacrylic fiber is that the fiber is subjected to stretch 4-10 times the original length using a spinning solution. It is used in the manufacturing of blankets, carpets, and sweaters. These fibers are resistant to solvent and sunlight, resistant to creasing, and have quick drying properties. All these factors are contributing to the market growth.

Modacrylic Fiber Market Segment Analysis – By End-Use Industry

The textile segment held a significant share in the Modacrylic Fiber Market in 2021 and is forecasted to grow at a CAGR of 3.8% during the forecast period 2022-2027. The market capture is due to the increasing usage of modacrylic in the clothing component. Modacrylic fibers are known for their flame-resistant properties. Although it burns when directly exposed to flame but does not melt or drip when the flame is removed. Therefore, it is used in high-performance protective clothing like fire-fighting turnout gear. It is also used in children’s sleepwear as these fabrics are wrinkle-free and self-extinguishing. Also, they have excellent resistance to chemicals and solvents, thus, are not attacked by moths or mildew and are non-allergic. Modacrylics are soft, resilient, dimensionally stable, and strong, they can be easily dyed, show good shape retention, and are quick to dry. According to India Brand Equity Foundation, Cotton production in India is projected to reach 7.2 million tonnes by 2030, driven by increasing demand from consumers. Also, Between April 2021 and September 2021, handicraft exports from India stood at US$ 2.13 billion, a 60.34% year over year rise due to increased participation from industry players to boost handicraft products in global markets. Therefore, the increase in the textile industry will lead to an increase in the growth of modacrylic fibers.

Modacrylic Fiber Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the Modacrylic Fiber Market in 2021 up to 43%, owing to the increasing textile industry in APAC countries. For instance, According to the Indian Textile and Apparel Industry 2021, India imported US$ 1,145 million worth of garments and US$ 1,022 million worth of made-ups in 2019-20. Also, China’s share in imports increased by 1% from January to October 2020. According to India Brand Equity Foundation, the huge funds in schemes such as Integrated Textile Parks with US$ 184.98 million investment and Technology Upgradation Fund Scheme with US$ 961.11 million investment were released by Government during 2015-16 to 2019-20 to encourage more private equity and provide employment. Also, the exports of cotton yarns, fabrics, made-ups, and handloom products stood at US$ 8.6 billion between April 2021 and October 2021. Thus, the growth of the modacrylic market in the region is being aided by the increasing textile industry sector in APAC, thereby dominating the market in the Asia-Pacific region.

Modacrylic Fiber Market Drivers

Increasing Demand for Hair Wigs and Blankets

Modacrylic fibers are majorly used to make synthetic fiber wigs. As modacrylic fiber is heat sensitive, it allows the wigs and hairpieces to be curled and heat styled permanently without damage. The preferred ratio for making synthetic hair wigs is a ratio range of about 35-65 or 40-60 with acrylonitrile to vinyl chloride respectively. Modacrylic fibers are highly used in blankets. The low flammability of modacrylics provides a safety measure in airline blankets and military sweaters. Due to its wool-like fiber, it is widely used to make soft and bulky blankets for winters. These blankets are perfect to use due to their permanent flame resistance and permanent anti-static and anti-wrinkle blankets. According to the Observatory of Economic Complexity, in 2020, Blankets and traveling rugs, of cotton were the world's 2856th most traded product, with a total trade of US$417 million. The top exporters of blankets and traveling rugs in 2020 were China (US$160 million), followed by India, Pakistan, Germany, and Portugal. According to the Observatory of Economic Complexity, the total world trade of fake hair/wigs was around US$ 3.07 billion in 2020 and it represents 0.018% of the total world trade. The top exporters in 2020 of wigs were China (US$1.97 billion), followed by Indonesia, Bangladesh, Germany, and United States. Thus, the growth in blankets, traveling rugs, hair wigs, and artificial hair will lead to market growth.

Increasing Government Initiatives Spurring the Textile Industry

The government of various economies is increasingly investing in the growing textile industry. According to the National Council of Textile Organization, in 2020, the value of textile and apparel shipments in the United States is expected to be around US$ 64.4 billion. In addition, the textile industry in the United States is the world's second-largest exporter of textile-related products. Exports of fiber, textiles, and apparel totaled $25.4 billion in 2020. According to the India Brand Equity Foundation, the government released huge funds in schemes like Integrated Textile Parks (SITP) worth US$ 184.98 million and Technology Upgradation Fund Scheme worth US$ 961.11 million from 2015-16 to 2019-20 to encourage more private equity and create jobs. With the increasing growth in the textile industry, the demand for textile intermediates like modacrylic fiber is also increasing thereby driving the market growth.

Modacrylic Fiber Market Challenges

Prone to Pilling and Matting

Though modacrylics are soft, warm, and resilient, these fabrics are prone to pilling and matting which makes them look old in very less time. It creates a small ball of fibers on clothes which happens by washing. It generally happens at the collar, cuffs, around thighs, and rear on trousers. Due to pilling, the fabric looks less appealing and esthetic. As modacrylic fiber is a bulky yarn, these problems cannot be avoided. Thus, users avoid wearing expensive modacrylic fiber clothes due to their pilling and matting behavior. Therefore, modacrylic fibers need to be used with care due to their pilling and matting formation conditions which restrict the market growth of the Modacrylic Fiber Market.

Modacrylic Fabric Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Modacrylic Fiber Market. Modacrylic Fiber Market top 10 companies are:

1. Formosa Plastics Corp
2. Kaneka Corporation
3. Aramid Hpm, LLC
4. Hengfeng Textile
5. Zhejiang Wangzhuo Knitting Co., Ltd.
6. Goonvean Fibres
7. Dralon
8. Aditya Birla Group
9. Urja Products Pvt Ltd
10. The Naakubetta Textile Company

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