Sulfasalazine is an oral antirheumatic and antibacterial drug used in the treatment of rheumatoid arthritis, ulcerative colitis and related conditions. It works by blocking the enzymes required for the production of prostaglandins, which reduces inflammation and pain. Sulfasalazine is available in both brand and generic forms for its affordability and effectiveness. The global Sulfasalazine Market is estimated to be valued at US$ 2.32 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Advancements in treatment methods and growing adoption of combination therapies have accelerated the growth of sulfasalazine market. Research organizations are developing new drug formulations and delivery mechanisms to enhance the efficacy of sulfasalazine. For instance, enteric-coated formulations help deliver the drug directly to the inflamed areas of colon for better management of inflammatory bowel disease. Combination of sulfasalazine with other biologics is also found to be more effective for rheumatoid arthritis. Growing geriatric population suffering from arthritis and inflammatory disorders will further drive the demand for sulfasalazine in the coming years. However, alternative treatment options and side effects associated with long term usage of sulfasalazine may hamper the market growth to some extent. Segment Analysis The global sulfasalazine market is dominated by the rheumatoid arthritis sub segment. Sulfasalazine is primarily used for the treatment of rheumatoid arthritis, which is one of the major autoimmune disorders. As per estimates, around 1% of the worldwide population is affected by rheumatoid arthritis. Hence, the high prevalence of the disease and sulfasalazine being one of the main therapy options for rheumatoid arthritis have been driving the growth of the rheumatoid arthritis sub segment. Key Takeaways The Global Sulfasalazine Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. The market was valued at US$ 2.32 Bn in 2024 and is projected to reach over US$ 4 Bn by 2031, registering a CAGR of around 18%. Regional analysis: North America currently dominates the global sulfasalazine market and is expected to maintain its leading position throughout the forecast period. This can be attributed to the strong presence of major players and growing research and development activities in the region. The market in Asia Pacific is anticipated to grow at the fastest pace during the forecast period owing to the rising disease incidence, increasing healthcare expenditure, and growing awareness regarding early diagnosis and treatment. Key players operating in the sulfasalazine market are Ophthotech Corporation, Aptamer Sciences, Inc., Novartis AG, NeoNeuro SAS, Aptus Biotech S.L., Aptagen LLC, ABiotechnologies, LLC, Base Pair Biotechnologies, Vivonics Inc., CAGE Bio Inc., TAGCyx Biotechnologies Inc., AstraZeneca, GlyTech, Inc., GC Biopharma Corp., Achiko AG, Agilent Technologies, Inc., SomaLogic Operating Co., Inc., Amsbio, and IVERIC bio, Inc. Novartis AG and AstraZeneca are the leading players owing to their robust product portfolio and strong geographical presence. Explore more information on this topic, Please visit - https://www.trendingwebwire.com/sulfasalazine-market-size-and-demand-analysis/
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Textile chemicals are used to enhance or impart various properties to fabrics and textiles. They provide functions like stain repellency, anti-microbial properties, softness, color fastness, and wrinkle resistance to textiles. Continuous product innovations focused towards sustainability by major market players are accelerating the demand for textile chemicals. The global textile chemicals market is estimated to be valued at US$ 32.64 billion in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Major players in the global textile chemicals market are engaged in extensive R&D activities to develop innovative and sustainable textile chemical products. Product innovations mainly focus on utilizing bio-based and recycled raw materials to manufacture various textile chemicals like dye stuffs, printing pastes, softeners and others. For instance, Huntsman Corporation launched biological softeners made from plant-derived materials for cotton and other fabrics in 2021. Such sustainable product offerings are increasing consumer preference for eco-friendly textile products which is propelling the demand for textile chemicals worldwide. Growing focus of key players on sustainability will continue to accelerate the market growth over the forecast period. Segment Analysis The global textile chemicals market is segmented into home furnishings, apparel, industrial and others. The apparel segment dominated the market in 2021 and is expected to continue its dominance during the forecast period. This is owing to the growing fashion consciousness among people globally and rising demand for a variety of apparel types from athletic to formal wear. Further, changing fashion trends have increased the demand for new designs and materials, thereby driving the consumption of various textile chemicals in this segment. Key Takeaways The Global Textile Chemicals Market Size is expected to witness high growth during the forecast period. The market size for 2024 is expected to reach US$ 32.64 Bn. Regional analysis: Asia Pacific region is expected to dominate the global textile chemicals market during the forecast period. This is attributed to the presence of major textile industries and the massive production of textiles in countries such as China and India. Further, cheap labor costs and lenient environmental regulations have attracted several textile manufacturers to set up production bases in Asia Pacific region. Key players operating in the textile chemicals market are Cisco System Inc., Schneider Electric, Wipro Consumer Lighting, Avnet Inc., Crestron Electronic Inc., Honeywell International Inc., Inventronics Inc., Philips Lighting Holding B.V.(Signify Holding), Legrand, Jaquar India. The major players are focusing on new product launches and mergers & acquisitions to strengthen their market position and capitalize on growth opportunities in emerging markets. Explore more information on this topic, Please visit - https://www.trendingwebwire.com/textile-chemicals-market-size-and-trends-analysis/ Construction aggregates, including materials like sand, gravel, crushed stone, slag, recycled concrete, and geosynthetic aggregates, are commonly used with binders such as cement, lime, or asphalt to form concrete, mortar, screed, or non-specialty asphalt. Recycled construction aggregates, derived from materials in construction and demolition projects, offer environmental benefits, reduced raw material usage, lower transportation costs, decreased landfill waste, and conservation of natural resources. The global Recycled Construction Aggregates Market is projected to be valued at US$ 46.87 billion in 2023, with an expected Compound Annual Growth Rate (CAGR) of 9.5% from 2023 to 2030, according to a report by Coherent Market Insights. Market Key Trends: Growing concerns about environmental pollution from excessive mining activities and a focus on sustainable construction practices are driving the demand for recycled construction aggregates. The usage of recycled construction aggregates in road base and sub-base applications can significantly reduce environmental impact and costs, as much as 40% compared to virgin aggregates production. Governments globally are promoting the use of recycled construction aggregates through policies and investments, and the adoption of green building standards further fuels market growth. With increasing awareness and emphasis on the circular economy, the recycled construction aggregates market is poised for substantial growth. Porter’s Analysis:
The Global Recycled Construction Aggregates Market Size is expected to witness high growth with a CAGR of 9.5% from 2023 to 2030, reaching an estimated size of US$ 86.04 billion by 2030. Regional Analysis: North America dominates the market, driven by stringent environmental regulations and high recycling rates. Asia Pacific, led by China, India, and other developing nations, is expected to grow rapidly due to expanding infrastructure and real estate sectors. Key Players: Key players in the Recycled Construction Aggregates market include Tarmac, Delta Sand & Gravel Co., LafargeHolcim Ltd., Aggregate Industries Management, Inc., CEMEX, Vulcan Materials Company, CESPA, Green Stone Materials, CRH Plc., and Heidelberg Cement AG. The market is dominated by large players with high initial investments. Explore more information on this topic, Please visit - https://www.newsanalyticspro.com/recycled-construction-aggregates-market-growth-and-outlook/ The U.S. Bottled Water Market, valued at approximately US$ 22,175.71 million in 2021, is anticipated to demonstrate a robust Compound Annual Growth Rate CAGR of 8.42% throughout the forecast period from 2022 to 2030, as outlined in a recent report by Coherent Market Insights. The U.S. bottled water market encompasses the commercial production, packaging, and distribution of drinking water in various sizes and forms, including bottled spring water, purified water, and mineral water. The sector has witnessed significant popularity attributed to the increasing health consciousness among consumers and the convenience of on-the-go consumption. Key players dominating the market include Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC. Market Dynamics: The driving forces behind the U.S. bottled water market include heightened health consciousness among consumers, concerns regarding water contamination, and the preference for safe and clean drinking water. The busy and fast-paced lifestyle of the population further propels the demand for on-the-go beverages, with bottled water emerging as a healthier alternative. Moreover, the market is set to experience substantial growth due to the diverse range of flavors and mineral compositions offered in bottled water products. Manufacturers are actively innovating and introducing new flavors and functionalities to attract consumers, resulting in heightened consumer interest and overall market growth. Segment Analysis: The U.S. bottled water market segmentation is based on product type, packaging, distribution channel, and region. Within these segments, the flavored water sub-segment emerges as a dominant force, driven by its refreshing taste, diverse flavor options, and appeal to health-conscious consumers seeking low-calorie and sugar-free alternatives. Flavored water is often positioned as a substitute for carbonated soft drinks, contributing to its popularity among a broad consumer base. PEST Analysis:
The Global U.S. Bottled Water Market Demand is poised for substantial growth, showcasing a CAGR of 8.42% over the forecast period (2022-2030). This growth is driven by heightened consumer awareness of the health benefits associated with bottled water consumption and a shift towards healthier beverage choices. In regional analysis, the West Coast stands out as the fastest-growing and dominating region in the U.S. bottled water market. Factors such as a large population base, warm climate, frequent drought conditions, and a strong preference for health and wellness products contribute to the high demand for bottled water in this region. Key players, including Nestle Waters, PepsiCo, Inc., The Coca-Cola Company, Groupe Danone, Suntory Beverage & Food Ltd, Mountain Valley Spring Company, LLC, and CG Roxane, LLC, play a pivotal role in the market, with a strong presence and a diverse range of bottled water products catering to the varied demands of U.S. consumers. Explore more information on this topic, Please visit - https://www.insightprobing.com/u-s-bottled-water-market-forecasts-and-trends-analysis/ 1/31/2024 0 Comments Global Testosterone Booster Market Growth Accelerated by Increasing Demand for Sports NutritionTestosterone boosters are dietary supplements aimed at increasing testosterone levels in the body. Products found in the testosterone booster market mimic the effects of testosterone to enhance energy levels, libido, and muscle mass. They are commonly used by bodybuilders and athletes to gain strength and enhance physical performance. The global Testosterone Booster Market is estimated to be valued at US$ 371.89 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Increasing demand for sports nutrition supplements is expected to drive growth of the testosterone booster market over the forecast period. There has been rising participation in sports and recreational activities around the world. Consumers are increasingly choosing nutritional supplements and testosterone boosters to improve physical strength, endurance, and performance. Promotion of testosterone boosters and sports nutrition products through online channels and social media marketing is also fueling their demand among young population and keen on maintaining physical fitness. This is projected to significantly contribute to the market growth of testosterone boosters over the coming years. Segment Analysis The global testosterone booster market is dominated by the oral segment which accounts for nearly 60% share of the overall market. Oral testosterone boosters are preferred choice by consumers as they are easy to use and demonstrate quick absorption in the body resulting in fast results. Key Takeaways The Global Testosterone Booster Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global Testosterone Booster Market is estimated to be valued at US$ 371.89 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031. Regional analysis shows that North America currently dominates the market and is expected to continue its dominance during the forecast period. Factors such as growing health and wellness trends, increasing obesity and low testosterone cases particularly in the United States are driving the growth of testosterone booster market in the region. The Asia Pacific region is expected to witness fastest growth and emerge as the second largest market for testosterone boosters during the forecast period. Countries like India, China and Japan are driving the growth of testosterone booster market in Asia Pacific region. factors such as increasing awareness, large consumer base and presence of local manufacturers are fueling the market growth. Europe is also expected to offer lucrative growth opportunities for players operating in testosterone booster market. Key players operating in the testosterone booster market are Celanese Corporation, Eastman Chemical, Solutia, INEOS Group Limited, Rhodia Brasil, Showa Denko, Shanghai Wujing Chemical, Sasol Limited, Jiangmen Handsome, and Sekab. Explore more information on this topic, Please visit - https://www.insightprobing.com/testosterone-booster-market-share-and-demand-analysis/ Explore more trending article related this topic - https://www.ukwebwire.com/cancer-biomarkers-market-size-and-tredns-analysis/ Therapeutic vaccines play a crucial role in enhancing immune responses against various infectious diseases and cancer. Therapeutic vaccines aid in boosting the immune system’s ability to fight tumors or infections through antigen-specific immune responses. These vaccines can be designed to combat challenging pathogens or tumors that evade conventional vaccines by strengthening the body’s natural defenses. The therapeutic vaccines market caters to various diseases like infectious diseases, cancer, allergy & asthma, and others. The global Therapeutic Vaccines Market is estimated to be valued at US$ 3.09 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The market is majorly driven by the rising prevalence of various chronic diseases globally. Therapeutic vaccines are beneficial in chronic diseases management as they enhance immunity against the causative pathogens or tumor antigens. According to the World Health Organization (WHO), chronic diseases are expected to account for almost three quarters of all deaths worldwide by 2030. The growing disease burden is raising demand for effective treatments like therapeutic vaccines for long term protection. Furthermore, ongoing research and clinical trials focused on expanding therapeutic vaccine applications in other indications like neurodegenerative disorders and autoimmune diseases are anticipated to open new lucrative opportunities over the forecast period. Partnerships between key players for vaccine development collaborations will also contribute to market growth. Segment Analysis The global therapeutic vaccines market is dominated by the infectious disease segment. This segment accounted for over 40% share of the global market in 2024 due to high disease prevalence of infectious diseases such as HIV, hepatitis, tuberculosis etc. The cancer segment is expected to witness fastest growth during the forecast period owing to increasing research efforts in the area of therapeutic cancer vaccines and rising number of clinical trials for novel cancer vaccines. Key Takeaways The Global Therapeutic Vaccines Market Demand is expected to witness high growth during the forecast period from 2024 to 2031. Regional analysis North America dominated the global market in 2024 and accounted for around 35% share. Presence of well-established pharmaceutical companies and growing biotechnology industry are major factors driving the market in the region. Europe was the second largest market in 2024 owing to increasing public and private funding for research and development of therapeutic vaccines. Asia Pacific is expected to witness fastest growth during the forecast period supported by rising healthcare spending, increasing government focus on immunization programs and presence of contract vaccine manufacturing facilities in major Asian countries. Key players Key players operating in the therapeutic vaccines market are AMR India Limited, Carmeuse, GLC Minerals LLC, Graymont Limited, Gujarat Mineral Development Corporation Ltd, Imerys, Kerford Limestone, LafargeHolcim, Lhoist Group, Minerals Technologies Inc., Okutama Kogyo Co. Ltd, Omya AG, RSMM Limited, Ryokolime Industry Co. Ltd (Mitsubishi Materials Corporation), SCHAEFER KALK GmbH & Co. KG, The National Lime & Stone Company, and United States Lime & Minerals Inc. The market is highly consolidated with top five players accounting for over 50% share in 2024. These players are focusing on new product launches, geographical expansion and acquisitions to gain maximum market share. Explore more information on this topic, Please visit - https://www.insightprobing.com/therapeutic-vaccines-market-size-and-trends-analysis/ Explore more trending article related this topic - https://www.pressreleasebulletin.com/biopharma-buffer-market-size-and-trends-analysis/ 1/31/2024 0 Comments Global Veterinary Drugs Compounding Market Growth Accelerated by Rising Pet AdoptionVeterinary drugs compounding offers custom medications for companion animals since one size does not fit all. Veterinary pharmacists compound specialized medications for conditions like arthritis, behavioral issues, cancer, and skin or ear infections in dogs and cats. Given the rising pet adoption rates and humanization of pets, demand is increasing for tailored medications to keep pets healthy and comfortable.
The global Veterinary Drugs Compounding Market is estimated to be valued at US$ 1512.63 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rapid growth of the customized veterinary drugs compounding market can be attributed to rising pet adoption rates globally. According to the American Pet Products Association, U.S. pet ownership reached a new high of 70.6 million homes with dogs and 42.7 million homes with cats in 2020. As the humanization of pets continues, demand for specialized medications tailored to individual pets' needs is growing. This has accelerated the adoption of compounded drugs for pets rather than off-the-shelf formulations, giving a boost to this market. Segment Analysis The global veterinary drugs compounding market is segmented by product type, animal type, route of administration and end user. Based on product type, the anti-infective segment is expected to dominate owing to high prevalence of bacterial, viral and fungal infections in animals. The anti-infective drugs help treat various infections affecting respiratory, gastrointestinal and urinary tracts of animals. Key Takeaways The Global Veterinary Drugs Compounding Market Size is expected to witness high growth over the forecast period. The global Veterinary Drugs Compounding Market is estimated to be valued at US$ 1512.63 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031. Regional analysis: North America is expected to dominate the global market over the forecast period. This is attributed to rising pet expenditure, growing animal health awareness and presence of major market players in the region. The US accounts for the largest share in the North American region due to strong economic conditions and continuous product innovations. Key players related content: Key players operating in the veterinary drugs compounding market are BASF SE, Huntsman Corporation, The Dow Chemical Company, 3M Company, DuPont, Aditya Birla Chemicals Ltd (Thailand), Momentive Specialty Chemicals Inc, Nan Ya Plastics Corporation, Kukdo Chemical Ltd. These players are focusing on new product launches and expansion strategies to gain higher market share. Explore more information on this topic, Please visit - https://www.insightprobing.com/veterinary-drugs-compounding-market-size-and-trends-analysis/ Explore more trending article related this topic - https://www.pressreleasebulletin.com/cancer-biomarkers-market-growth-and-forecasts-analysis/ 1/31/2024 0 Comments Global AI Governance Market Growth Accelerated by Increased Implementation of AI SystemsAI governance encompasses processes and systems that ensure artificial intelligence systems are developed and operated ethically and for the benefit of humanity. AI governance solutions enable organizations to integrate and operationalize ethical practices into their AI programs. Some key features of AI governance solutions include algorithmic transparency, explainability of automated decisions, assessments of bias and unfairness, mitigation of risks from advanced applications like autonomous vehicles and weapons, and alignment of outcomes with human values. The global AI Governance Market is estimated to be valued at US$ 246.18 Mn in 2023 and is expected to exhibit a CAGR of 28.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: As organizations increasingly implement AI systems to drive digital transformation initiatives and improve operational efficiencies, the need for responsible and ethical development and use of AI has been growing. One of the key market trends is the rising adoption of AI governance solutions by companies to ensure accountability, ensure protection of user data and privacy, mitigate risks of algorithmic bias and unfair outcomes. AI governance provides frameworks and tools to institutionalize oversight, compliance monitoring and validation procedures throughout the AI lifecycle from data collection to deployment and ongoing use. This helps organizations address regulatory requirements around AI and also build trust with customers, partners, employees and regulators regarding their AI programs and use of advanced technologies. Segment Analysis The global AI governance market is segmented based on component, type, technology, vertical and region. The solutions segment is expected to hold the largest market share during the forecast period. This is mainly due to the growing adoption of AI governance solutions by enterprises to mitigate AI risks and ensure regulatory compliance. The AI governance solutions help organizations address aspects like algorithmic bias, data privacy and accountability throughout the AI lifecycle. Key Takeaways The Global AI Governance Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is projected to be US$ 246.18 Mn and is expected to reach US$ 663.85 Bn by 2031, growing at a robust CAGR of 8.1%. Regional analysis: North America is currently the dominant region for the AI governance market and is expected to continue its dominance during the forecast period. This is attributed to the presence of major tech companies and AI vendors in the US and Canada. Countries in the region have also enacted strict regulations around AI and data privacy that is driving the demand for AI governance solutions. Asia Pacific is projected to be the fastest growing region owing to increasing digital transformation initiatives and rising AI investments in major economies like China and India. Key players: Key players operating in the AI governance market include Groupe Emsland, Roquette Frères, The Scoular Company, COSUCRA - Groupe Warcoing, Ingredion Incorporated, Axiom Foods Inc., Yantai Shuangta Food Co. Ltd, Vestkorn Milling AS, Puris, Meelunie BV, AGT Food and Ingredients Inc., and Shandong Jianyuan Bioengineering Co. Ltd. Major players are focusing on developing innovative AI governance solutions to address evolving compliance needs and gain a competitive edge in the market. Explore more information on this topic, Please visit - https://www.insightprobing.com/ai-governance-market-share-and-demand-analysis/ Explore more trending article related this topic - https://www.ukwebwire.com/bioelectronics-market-growth-and-forecasts-analysis/ 1/30/2024 0 Comments Global Augmented Reality in Healthcare Market Growth Accelerated by Increased Adoption of ARAugmented Reality (AR) in healthcare provides digitally enhanced content layered over the real world for medical applications. AR enhancements visualization of anatomy, assists in complex surgeries and medical procedures. It allows healthcare professionals to interact with 3D anatomical models during medical education and training. The global Augmented Reality in Healthcare Market is estimated to be valued at US$ 2.88 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the augmented reality in healthcare market is the increased adoption of AR in medical education and training. AR enables medical students and clinicians to get hands-on practice with 3D anatomy models, complex surgical procedures, visualize disease pathology before an actual patient visit. This improves understanding, analysis of real-time data during mock drills. Major hospitals and medical schools are increasingly incorporating AR/VR technologies into their curriculum to engage students and improve comprehension of complex subjects. The ability of AR to create immersive learning experiences through visualization is fueling its adoption in medical education and training globally. Segment Analysis The global Augmented Reality in Healthcare Market is dominated by the surgical application segment which currently holds a share of over 30%. Augmented reality provides several benefits in surgical applications such as 3D visual overlays of internal organs and CT/MRI scans during operations to help surgeons perform complex procedures with more accuracy. It also helps in pre-operative planning and training for complex surgeries. The diagnostic application segment is expected to witness the fastest growth during the forecast period due to the growing use of AR for diagnostic imaging, remote consultations and teaching/training medical students. Key Takeaways The Global Augmented Reality In Healthcare Market Size is expected to witness high growth over the forecast period of 2024 to 2031 due to the growing adoption of AR solutions across various healthcare applications. The global Augmented Reality in Healthcare Market is estimated to be valued at US$ 2.88 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031. Regional analysis shows that North America currently dominates the market owing to the presence of major players and early adoption of advanced technologies by healthcare providers and institutions in the region. Europe is also an important market driven by significant investments in healthcare technology by countries. Asia Pacific is projected to be the fastest growing regional market led by countries like China and India due to rising healthcare expenditure,increasing incidents of chronic diseases and gradual acceptance of new technologies. Key players operating in the Augmented Reality in Healthcare market are Unilever Ltd., Florentino Ice Cream, Nye's Cream Sandwiches, Van Leeuwan, Nestle S.A., Bi-Rite Family of Businesses, Carmela Ice Cream, Sucres Des Terres, and Artinci Artisanal. The market is witnessing increasing investments from technology companies as well as startups focusing on development of innovative AR based medical solutions. Strategic partnerships between AR developers and medical device/equipment manufacturers are also expected to boost market growth over the forecast period. Explore more information on this topic, Please visit - https://www.insightprobing.com/augmented-reality-in-healthcare-market-forecasts-and-outlook-analysis/ Explore more trending article related this topic - https://www.pressreleasebulletin.com/virtual-reality-in-gaming-market-size-and-trends-analysis/ 1/30/2024 0 Comments Global Acrylic Fibers Market Growth Accelerated By Increased Demand From Apparel IndustryAcrylic fibers find extensive use in the apparel industry owing to their desirable properties such as moisture absorbency, elasticity, resilience and softness. Acrylic fibers are used to manufacture a wide range of clothing such as sweaters, socks, hats, gloves, blankets and other linings. The growing demand for acrylic fabric in the apparel industry is expected to boost the acrylic fibers market over the forecast period. The rising disposable income coupled with changing fashion trends has led to increased spending on clothing and apparel. Additionally, acrylic fibers are a cheaper alternative to wool and provide similar properties, thereby increasing their popularity in the apparel industry. The global acrylic fibers market is estimated to be valued at US$ 6343.61 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The key trend driving the growth of the acrylic fibers market is the high adoption of acrylic fabrics in the apparel industry. Acrylic fibers have moisture-wicking properties, are warm, soft and durable. These properties make acrylic fabrics suitable for activewear, sportswear, outdoor wear and casual clothing. Manufacturers are increasingly using acrylic fiber blends with other natural and synthetic fibers such as cotton, wool and polyester to enhance properties of fabrics. The blended fabrics offer benefits such as improved moisture management, easy care and softness. Rising consumer preference for affordable yet high-performance fabrics is propelling demand for fabrics made with acrylic fiber blends. Additionally, acrylic fabrics are gaining popularity as an alternative to expensive natural fabrics such as cashmere and merino wool. This is expected to drive market growth over the forecast period. Segment Analysis The global acrylic fibers market is segmented based on type and application. By type, the dominating segment is staple fiber which accounted for over 50% of the market share in 2024. Staple fibers are cheaper to produce and can be easily blended with other natural and synthetic fibers like cotton and polyester. Its comfort, affordability and easy availability have made it the preferred choice for clothing and home furnishing applications. By application, the apparel segment dominated the market in 2024 with over 30% share. Acrylic fibers are extensively used in sweaters, socks, scarves, gloves, blankets and other warm clothing owing to properties like high moisture absorbency, quick drying and excellent insulation. The growing fashion industry along with rising disposable incomes in developing nations have boosted demand for acrylic apparel. Key Takeaways The Global Acrylic Fibers Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global acrylic fibers market is estimated to be valued at US$ 6343.61 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031. Regional analysis shows that Asia Pacific emerged as the fastest growing as well as dominating region in 2024 with over 40% share of the global market. This can be attributed to the large apparel and textile industries in China, India and other Asian countries which are major consumers of acrylic fibers. Presence of leading producers has also made Asia Pacific a key manufacturing hub for acrylic fibers. Key players operating in the acrylic fibers market include QuintilesIMS (now IQVIA), Parexel International Corporation, ICON plc, PRA Health Sciences, Covance Inc., Charles River Laboratories International Inc., Syneos Health, Pharmaceutical Product Development, LLC (PPD), Medpace Holdings, Inc., LabCorp (Laboratory Corporation of America Holdings), Wuxi AppTec, inVentiv Health (now Syneos Health), PAREXEL International (now part of PPD), Accenture, Cognizant. These players are focused on expanding their product portfolios and geographical reach through acquisitions and partnerships to strengthen market presence. Explore more information on this topic, Please visit - https://www.insightprobing.com/acrylic-fibers-market-size-and-trends-analysis-2/ Explore more trending article related this topic - https://www.ukwebwire.com/geotextile-market-size-and-trends-analysis/ |
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