Modacrylic Fiber Market Growth, Business Experts, Industry Trends and ForecastPosted by Stephen Lobo on December 5th, 2022 Modacrylic Fiber Market research report providing new evolving Trends, Drivers, Restraints, Opportunities, company profile, industry size, share, growth, drivers, demand, Key Players & forecast. Modacrylic Fiber Market demand in this market is increasing in accordance with the growth in the demand for protective apparel and hair fiber applications of modacrylic fibers. Stringent industrial regulations and standardizations regarding the safety concerns requiring the use of fire resistant materials is also expected to drive the modacrylic fiber market. Modacrylic Fiber Market Key Players
Kaneka Corporation (Japan), one of the leading players in the modacrylic fiber market, is focusing on research and development activities through its seven corporate R&D laboratories. The company plans to expand its production capacity to enhance its production and distribution capacity. Formosa Chemicals & Fibre Corporation (Taiwan) also plans to enter uncharted markets to strengthen its global position and to increase revenues. Nantong Xufeng Textile Industrial Company Limited (China) has been focusing on the launch of new products such as, the ‘Modacrylic Cotton Fabric’ and ‘Flame Retardant’ series. The company pursues the organic strategy of developing products through R & D to strengthen its position as a leading supplier of modacrylic fiber products globally. Modacrylic Fiber Market Segmentation By Application
The hair fiber segment is projected to grow at the highest CAGR during the forecast period. The hair fiber segment is projected to be the fastest-growing from 2016 to 2021. This growth is attributed to the hair-like characteristics of modacrylic fiber, which is why they are being widely used in wigs, hair extensions, and other hair-like accessories. Another reason behind the growth of modacrylic hair fiber is that it is highly flame resistant, even when combined with fibers that can flare when caught with fire. By region
Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=44304885 The Asia-Pacific region to play a key role in the growth of the market for modacrylic fiber.
On the basis of key regions, the modacrylic fiber market is segmented into, North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The Asia-Pacific region is a key market for modacrylic fiber. The development of the economies and rapid growth in the industrialization in this region are impacting the growth of this market. Increasing industrial regulations related to employee safety ensures that industries switch to protective clothing made from modacrylic fiber, thereby impacting the growth of the market. Table of Contents:
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