A new market study, titled “Discover Global Synthetic Fiber Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Synthetic or man-made fibres are fibres that are synthesized from chemicals which are most commonly found in petroleum and coal. They have superior qualities when compared to natural fibres which makes them widely used, like wrinkle-resistance, strength, and are comparatively softer and cheaper.
The declining availability and increasing costs of natural fibres, such as cotton and wool, the increasing industrialization, and the low production costs are fueling the growth of the synthetic fibre market. However, the non-biodegradability and them not being skin-friendly, especially over long periods of time, are hampering the growth of the industry.
Synthetic fibres include a wide range of products that range from apparel and home furnishings such as jackets, shirts, bed-sheets and upholstered furniture to industrial applications like car tyre reinforcements, fabrics for conveyor belts and safety belts.
The report by DataM intelligence visualizes the composition of the synthetic fibre market across each indication and highlights the key commercial assets and major players in the Industry. By analyzing the trends and co-development deals provided in the report, new commercial opportunities can be identified in the market. The PDF attached along with the report is comprehensive and up to date analysis put together after in-depth market studies and interviews.
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The global synthetic market is one of the most productive segments in the global fibre industry with it accounting for about 64% of the global fibre industry. The growth of this industry is mainly due to rapid industrialization, low production cost, consumer preference, and increasing income. Weak supply, as well as the increasing cost of natural fibres such as wool and cotton, are further projected to drive up the sales of the global synthetic fibre market.
Based on regions, the market is divided into the Asia-Pacific region, South America, North America, Europe and the Rest of the World. The largest market during the forecast period is estimated to be the Asia-Pacific region, with the growing middle-class population in both India and China increasing their demand for both apparel and home furnishing products.
The North-American region, especially the United States, is growing as a major consumer of lightweight material in the fields of home-furnishing and automotive industries. The growth in the end-use sectors in the US is expected to be a major driving force for sales in the region. The high standards of living and demand for synthetic goods are also expected to propel sales. In 2016, the home furnishing sales in the US was approximately US$111.47 billion.
The market segmentation for the synthetic fibre industry is done based on a variety of factors varying from the type of material to its various applications in different industries. Polyester is the most commonly used fibre with its uses ranging from apparel to home furnishing like shirts, jackets to bedsheets and even to insulation padding in pillows and comforters. It is also used in industrial applications like safety belts and plastic reinforcements with high energy absorption capabilities.
It is segmented based on the following:
• Home furnishing
• Industrial use
WIth the world increasingly moving to more eco friendly solutions two companies namely Sustana Fibre and Tyton biosciences are coming up with innovative new methods to ensure that synthetic fibres can be recycled. Tyton uses a special process to separate synthetic from natural fibres which can both be reused to create usable cloth. With over 66 million tonnes of synthetic fibres produced annually companies like Freudenberg Performance Materials lead the way in recycling the materials in order to ensure safe disposal.
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