Analysis of Synthetic Fibers Market 2023-2032: Discovering Market Size, Share, SWOT Analysis, and Prominent Players - Bombay Dyeing, E. I. du Pont de Nemours and Company, Indorama Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Synthetic Fibers Global Market Report 2023 identifies the high durability and stain-resistant characteristics is the major driver for the synthetic fibers market's growth in the forecast period. Synthetic fiber is used in a broad range of applications, including the textile industry and home furnishings, owing to its physical and chemical properties such as high durability and stain-resistant characteristics. Polyester is one major fiber used in tires, belts, and hoses, whereas nylon is used for the preparation of carpets. According to a report, by 2030 it is expected that the consumption of polyester will be approximately three times that of cotton fiber.

The global synthetic fibers market size will grow from $161.11 billion in 2022 to $174.16 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global synthetic fibers is expected to grow from $231.33 billion in 2027 at a CAGR of 7.4%.

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Major competitors in the synthetic fibers market are Bombay Dyeing, E. I. du Pont de Nemours and Company, Indorama Corporation, Lenzing AG, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited.

A key trend in the synthetic fibers market includes adopting lightweight and fuel-efficient materials or advanced composite materials. Synthetic fibers made from polymer aromatic polyamide are mainly of two types: para-aramid and meta-aramid. Aramids, UHME polyethylene, and POA are the major types of specialty synthetic fibers. Marine, medical, sporting goods, pressure vessels, and reinforcement materials industries are the significant applications for the specialty synthetic fiber market, and growth in these markets is driving the synthetic fiber market. For instance, some of the new products using synthetic fibers include bioplastics, plastic composites/nanocomposites, self-healing polymers, plastic electronics, and smart and reactive polymers.

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The Synthetic Fibers market is segmented -
1) By Type: Polyester, Nylon, Acrylics, Polyolefin, Other Types

2) By Application: Clothing, Home Furnishing, Automotive, Filtration, Other Applications

3) By Distribution Channel: Online, Offline

4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the synthetic fibers market.

The Business Research Company's "Global Synthetic Fibers Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Synthetic Fibers Market Include:
1. Executive Summary
2. Synthetic Fibers Market Characteristic
3. Synthetic Fibers Market Trends And Strategies
4. Synthetic Fibers Market - Macro Economic Scenario
5. Synthetic Fibers Market Size And Growth
……………
27. Synthetic Fibers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Synthetic Fibers Market
29. Synthetic Fibers Market Future Outlook And Potential Analysis
30. Appendix

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