Synthetic Fibers Market Overview to 2023
Synthetic fibers are produced by linking the monomers into polymers through polymerization process. They are four types of the product manufactured in the market namely acrylics, polyester, nylon, and polyolefin synthetic fibers. These products are known for their strength, elasticity, washability, cost-effective nature, and others. The changing fashion trends and improving lifestyle resulting in growing demand for the product are the important factors influencing the market positively. Due to these factors, they are used in various applications such as clothing, home furnishing, automotive, filtration, and others.
Among the various segments of the market, polyester sub-segment holds a major portion due to growing consumption of the product in numerous end-uses such as bedspreads, sheets, pillows, furniture, carpets, and others. These type of materials are also utilized in the production of plastic bottles, balloons, and others. Moreover, the unique features offered by the product such as abrasion resistance along with chemical resistance, superior performance, and others are expected to contribute to its dominance over the forecast period.
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Global top 10 Key Players:
Some of the prominent players operating in the global synthetic fibers market are Bombay Dyeing (India), DuPont (U.S.), Indorama Corporation (Singapore), LENZING AG (Austria), Mitsubishi Chemical Holdings Corporation (Japan), Reliance Industries Limited (India), China Petroleum Corporation (China), TEIJIN LIMITED (Japan), Toray Chemical Korea Inc (South Korea) and TOYOBO CO., LTD (Japan) among others.
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
- Synthetic fibers market manufacturers
- Traders and Distributors of Synthetic fibers market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
It is projected that the nylon fibers sub-segment is set to propel the market over the assessment period. These materials are consumed extensively in the production of ropes, nets, tire cord, tarpaulins, hoses, monofilament fishing line, conveyor and seat belts, tents, parachutes, and others. The market by the application segment is further classified into clothing, home furnishing, automotive, filtration, and others. Among these, the clothing sub-segment has been leading the market due to its endless use in various end-uses such as footwear, dresses for men, women, children, and others. Therefore, the growing demand for the product from home furnishing, automotive, filtration, and others is estimated to drive the market growth at a significant rate due to its lightweight, abrasion resistant, and economic nature.
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The synthetic fibers market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing demand for the product in clothing, home furnishing, automotive, filtration, and others. The rising population along with the growing demand in end-use sectors have propelled the region to witness a higher growth over the assessment period. Countries such as China, Japan, and India are the major players in this market.
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