Global Modacrylic Fiber Market by Application (Protective Apparel, Hair Fiber, Upholstery & Household, Pile, and Industrial Fabrics.); Geography and Forecast to 2024.
Pune, India -- (SBWIRE) -- 03/19/2018 -- Global Modacrylic Fiber Market accounted for USD 701.5 million in 2016 and projected to grow at a CAGR of 3.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Major Market Competitors: Global Modacrylic Fiber Market
Some of the major players in global modacrylic fiber market include Kaneka Corporation, Fushun Rayva Fiber Co., Ltd, Formosa Chemicals & Fibre Corporation, Formosa Chemicals & Fibre Corporation, Fushun Huifu Fire Resistant Fibre Co. Ltd., Zhangjiagang Hengfeng Textile Co., Ltd., Nantong Xufeng Textile Industrial Co. Ltd, Nantong Xufeng Textile Industrial Co. Ltd, Shanghai Changjie Textiles Co. Ltd, Jiangsu Blue Peacock Chemical Fiber Co., Ltd., Zhejiang Wangzhuo Knitting Co., Ltd., and others.
Competitive Landscape: Global Modacrylic Fiber Market
The global modacrylic fiber market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Market Definition: Global Modacrylic Fiber Market
Modacrylic fibre is a synthetically manufactured and a copolymer that is flame resistant. Though it burns when exposed to flame but does not melt or drip. Modacrylic fibers are widely employed in high-performance protective clothing. They can be easily dyed, show good press and shape retention, and are quick to dry. It has its wide application in protective apparel, hair fiber, upholstery & household, pile, and industrial fabrics. Stringent industrial regulations & standardization, and increasing demand for the modacrylic protective apparel application may act as the major driver in the growth of modacrylic fiber market. On the other side, lack of awareness and increasing competition may hamper the market.
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Major Market Drivers & Restraints: Global Modacrylic Fiber Market
Stringent industrial regulations & standardization
Increasing demand for the modacrylic protective apparel application
Growing hair fiber application of modacrylic fiber
Fluctuating raw material costs
Lack of awareness and increasing competition
High technological requirements
Market Segmentation: Global Modacrylic Fiber Market
The global modacrylic fiber market is segmented on the basis of application into protective apparel, hair fiber, upholstery & household, pile, and industrial fabrics.
On the basis of geography, the global modacrylic fiber market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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