Synthetic fibers are basically derived from polymers and are considered as man-made fibers. They exhibit advantageous properties such as strength, lightweight, elasticity, washability, cost-effectiveness, softness, and special properties such as wrinkle resistance, crease recovery, moisture resistance, and high luster. Owing to these factors, these fibers are preferred in various applications, including clothing, home furnishing, automotive, construction, filtration, toys, different types of ropes, and net manufacturing. Synthetic fibers manufacturing continues to be a lucrative industry. Since the global supply of natural fibers remains limited, the deficit is fulfilled by the synthetic fibers. Sales of synthetic fibers have picked up steam in recent years, also owing to their expanding application. While natural fiber manufacturing is based on resources obtained from living organisms, synthetic fiber is produced purely by chemical synthesis.
MARKET DYNAMICS
The synthetic fibers market has witnessed a significant growth owing to factors such as wider application construction, automotive, healthcare, apparel, household, and others. The increasing consumer interest, mainly in home furnishings, is spurring the growth in the business segment. The growth in the real estate sector is further fueling the increase in home furnishings. The higher presence of retail stores offering home furnishings is another vital reason driving the synthetic fibers market growth over the forecast period. The demand for polyester fiber is again growing on account of its useful properties, which include abrasion and chemical resistance. The need for polyester is also increasing as affordable synthetic fiber in clothing applications due to the rise in the middle-class population in emerging economies. Consumers highly prefer characteristics, including 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 prime driving factors for the growth of the global synthetic fiber market. However, the synthetic fibers have some disadvantages such as they burn comparatively faster than natural fibers, they melt easily, and also can't be worn for a longer period of time as they are not skin-friendly, which may further hamper the growth of the synthetic fibers market. Nevertheless, with the steady growth in the chemical processing industry and construction industry, there are opportunities for the market players to invest in this market.
MARKET SCOPE
The "Global Synthetic Fibers Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the synthetic fibers market with detailed market segmentation by type, application, and geography. The global synthetic fibers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading synthetic fibers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global synthetic fibers market is segmented on the basis of type, application, and distribution channel. On the basis of type, the synthetic fibers market is segmented into polyester, nylon, polyolefin, and others. The synthetic fibers market on the basis of the application is classified into construction, automotive, healthcare, apparel, household, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global synthetic fibers market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The synthetic fibers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the synthetic fibers market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the synthetic fibers market in these regions.
MARKET PLAYERS
The reports cover various key developments in the global synthetic fibers market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from synthetic fibers market are anticipated to lucrative growth opportunities in the future with the rising demand for synthetic fibers in the global market. Below mentioned is the list of few companies engaged in the synthetic fibers market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the synthetic fibers market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bombay Dyeing Inc.
- China Petrochemical Corporation
- DowDuPont
- Indorama Corporation
- Lenzing AG
- Mitsubishi Chemical Holdings Corporation
- Reliance Industries Limited
- Teijin Limited
- Toray Chemical Korea, Inc.
- Toyobo Co. Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.