Press Release
Press Release
The Asia Pacific region holds a significant share of the modacrylic fibre industry owing to the rising use of the fibre in various industrial applications. As the region is witnessing rapid industrialisation, the demand for safety apparel is significantly surging, hence driving the market for modacrylic fibre. Various governments in the region are increasingly providing safety apparel to workers to enhance their safety, which is driving the market growth. The robust growth of the textile industry in countries like Vietnam, India, China, and Bangladesh, among others, is leading to a surge in demand for modacrylic fibre, which is propelling the market growth. The rise of the fashion industry in the region is increasing the use of modacrylic fibre in synthetic fur, thereby significantly contributing to the growth of the market.
Kaneka Corporation (TYO: 4118), one of the leading companies in the market, announced in August 2019 that it was expected to exhibit at the Japan-Africa Business Forum & EXPO Japan Fair. The company was projected to showcase materials for hair accessory products. It was estimated to exhibit Kanekalon, a modacrylic fibre range that is extensively used in artificial hair and is popular among African women. Along with this, the company also showcased Kaneka Biodegradable Polymer PHBH as well as See-Through PV Modules. Moreover, it would attempt to contribute to various solving African issues in the fair. By exhibiting Kanekalon, the company was projected to demonstrate materials necessary for hair accessory products and expand upon the idea of mental wellness through beauty. Such developments are propelling the growth of the market.
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The major players in the global modacrylic fibre market are Kaneka Corporation, Aksa Akrilik Kimya Sanayii A.S, and Zhangjiagang Hengfeng Textile Co.,Ltd , among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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