Synthetic Fibers Market Expand at the Fastest CAGR of 5.2% by 2026

Synthetic Fibers Market Study Analysis

The Synthetic Fibers Market is a rapidly expanding sector, showing tremendous growth in recent years. According to the Global Synthetic Fibers Market Report 2026. this market is expected to grow at a compound annual growth rate (CAGR) of 5.2% between 2020 and 2030.

Synthetic fibres are man-made fibres with superior physical and chemical properties, such as durability, elasticity, strength, etc. They are typically created from petrochemicals. In addition to being more water and stain resistant than natural fibres like cotton or silk, synthetic fibres are also more affordable than their natural counterpart.

In everyday life, synthetic fibres are essential. Synthetic fibres are used in a wide range of commercial, industrial, outdoor, and apparel applications in addition to clothing. Nylon, acrylic, polyester, carbon fiber, and other materials are some examples of common synthetic fibers; rayon, spandex, etc. are examples of specialty synthetic fibers.

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Last few decades have seen significant growth in consumption of synthetic fibers globally. Synthetic fibers do not wrinkle easily and possess good elastic properties which make them comfortable to wear. Synthetic fibers are easy to wash, dry up quickly and can be dyed easily.

Due to technological advances in production methods and superior physical, chemical, and mechanical characteristics, synthetic fibers are not only well recognized for their use in general textile, but also play crucial role in key end user industries such as healthcare, aerospace, food packaging, water purification, electronics, automotive, air filters, and others.

Furthermore, durability, cost effectiveness, and easy maintenance are anticipated to have a positive impact on the synthetic fiber market growth over the forecast period. Moreover, rapid industrialization, changing consumer pattern for textiles, and increasing disposable income are projected to drive the global synthetic fiber market over the forecast period 2016-2026.

Market Dynamics

Consumers highly prefer characteristics such as durability, better stain resistance, softness, and elasticity in their fiber uses; and manufacturers' ability to provide all such properties at lower costs is one of the key driving factors for the growth of the global synthetic fiber market. Furthermore, changing fashion trends are also expected to have perceptible effects on the global synthetic fiber market.

The lower cost of synthetic fibers as compared to natural fibers also encourages their use among consumers. Furthermore, weak supply of natural fibers such as cotton is another factor, expected to drive the global synthetic fiber market over the forecast period.

Environmental concerns such as non-biodegradability of synthetic fibers are expected to pose significant challenges to manufacturers across the globe. Apart from this, synthetic fibers possess low melting point and burn faster compared to natural fibers. Such environmental and safety concerns are some of the key restraining factors which might hamper the growth of the global synthetic fiber market.

Manufacturers across the globe are focused in R&D to develop various technologies and processes to impart better technical and safety characteristics in their products. Special attention has been given to incorporate functional changes in synthetic fibers with little or no hazardous impact on the environment.

Market Segmentation

Product type

• Acrylic
• Nylon
• Polyester
• Polyolefin
• Acetate
• Rayon
• Aramid
• others

Application

• Apparels
• Aerospace
• Automotive
• Medical
• Others

Regional Outlook

Supported by Megatrend of population growth and rising disposable income, market outlook for Asia-Pacific is expected to remain positive and strong over the forecast period. Globally, China and India are expected to be key suppliers as well as consumers of synthetic fibers. Taiwan and the U.S. are expected to hold significant shares in the global production capacities.

Consumption in Western Europe is expected to be lower compared to other developing regions of the world. Growth in the Middle East and Africa is expected to remain higher as compared to the global average over the forecast period.

Key Players

Some of key players identified across the value chain of global synthetic fiber market include DuPont, BASF, W. Barnet GmbH & Co. KG, Toray Industries, Inc., The CHA Textiles Group, Eastman Chemical Company, Mitsubishi Rayon, Asahi KASEI, Radici Group, Jushi Group, and Reliance Industries Limited.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America
• Latin America
• Asia Pacific
• Japan
• Western Europe
• Eastern Europe
• Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.

The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

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