Synthetic Fiber Market Key Players, Company Strategy, Future Investment Opportunities | Global Market Size Share Trends Growth Demand Report 2022-2029

The Synthetic Fibers Market report segments the market by type and application. By nature, the segment includes polyester, rayon, nylon, polyolefin, and others. Polyester is the most commonly used fiber among all.

Overview of the synthetic fiber market

According to the research study published by DataM Intelligence, the global synthetic fiber market is forecast at a compound annual growth rate of 5.4% for the forecast period 2022-2029. Synthetic fibers are man-made fibers synthesized from chemicals and have superior properties compared to natural fibers. They are more durable and can be dyed.

Market Growth Drivers:

Compared to natural fibers, many synthetic fibers are more water-repellent and dirt-repellent. Synthetic fibers account for approximately 64% of the global fiber market. Rapid industrialization, low production costs, changing consumer preferences for textiles and increasing disposable income are forecast to drive the global synthetic fiber market in the coming years.

Weak supply and the high cost of natural fibers such as cotton and wool are another factor driving the global synthetic fibers market.

The non-biodegradability of synthetic fibers may stunt the growth of the market. In addition, synthetic fibers are not so skin-friendly, which makes them uncomfortable when worn for a long time. Some people are allergic to synthetic fibers. Therefore, the factors mentioned above can pose a potential threat to the growth of the global synthetic fiber market.

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Market Segmentation Analysis:

The Global Synthetic Fiber Market Report segments the market based on Type and Application. By nature, the segment includes polyester, rayon, nylon, polyolefin, and others. Polyester is the most commonly used fiber among all.

These fibers are used extensively in apparel and home textiles, from shirts and pants to jackets and hats, bed sheets, blankets, upholstery and computer mouse pads.

Industrial polyester fibers are used in automotive tire reinforcements, conveyor belt fabrics, seat belts, coated fabrics and high energy absorption plastic reinforcements. Polyester fibers are used as a padding and insulating material in pillows, duvets and upholstery pads. Due to the extensive use of polyester fiber in various industries, it is the most demanded synthetic fiber.

Based on the application of synthetic fibers, the market has been segmented into apparel, home textile, industrial use, and others.

Regional Insights:

Based on geography, the market can be segmented into North America, South America, Europe, Asia Pacific and Rest of the World.

Asia Pacific Synthetic Fibers Market

Asia-Pacific is estimated to be the largest synthetic fibers market during the forecast period. The growing middle classes in countries like India and China are driving demand for home textiles and apparel.

North American Synthetic Fibers Market

The North American region, especially the USA, is growing significantly in the market due to the introduction of lightweight materials in the home textile and automotive industries. Growth in end-use sectors is expected to boost demand for synthetic fibers in this region. Home furnishing sales in the US in 2016 were approximately $111.47 billion. Also, the high standard of living and growing demand for synthetic clothing in the region will drive the market growth over the forecast period.

Key Market Players:

Some of the major players in the global Synthetic Fibers Market are Asahi Kasei Corporation, Indorama Corporation, Toray Industries, Inc., EI du Pont de Nemours and Company, Mitsubishi Chemical Holdings Corporation, China Petroleum Corporation, Reliance Industries Limited, Tongkun Group Co., Ltd., Teijin Limited and Kolon Industries, Inc.

Reasons to buy this report

  • Visualize the Synthetic Fibers Market composition for each indication, in terms of gas type and end-use industry, highlighting the critical commercial assets and players.
  • Identify business opportunities in the synthetic fibers market by analyzing trends and joint development deals.
  • Excel datasheet with thousands of data points of 4/5 segmentation at market level Synthetic Fibers
  • PDF report with the most relevant analysis convincingly compiled after extensive qualitative interviews and in-depth market study
  • Product mapping in Excel for the critical Synthetic Fibers market products of all major market players.

Related reports:

Market for glass fibers and synthetic specialty fibers

synthetic rubber market

building materials market

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