The global demand for Synthetic Fiber Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Kilo Square Meter in 2019 and foreseen to touch XX Kilo Square Meter by 2026 with a CAGR of XX% during 2020-2026.
Synthetic fiber is a human-made fiber obtained by chemical synthesis of polymers. It is made from raw materials that are petroleum or petrochemical-based. The most common synthetic fibers like nylon, polyester, acrylic, and polyolefin are used in almost every fiber and textile industry. These fibers are very durable and can readily pick up dyes. They are very consumer-friendly, stretchable, water-resistant, stain-resistant, and long-lasting. Apart from the fashion and apparel industry, these fibers are used in healthcare, packaging, electronics, aerospace, and automotive applications. Synthetic fibers are cost-effective and very easy to maintain compared to natural fibers.
Changing lifestyles and consumer preferences will be the main steering force in the synthetic fiber market's growth. Rapid industrialization and improving the economics of the global population will further propel the market growth. Weak supply of natural fibers and low production costs of synthetic fiber will be a market winner. Increased disposable income and easy maintenance of the apparel made from synthetic fiber will boost market growth. These fibers' superior characteristics like adaptability, durability, elasticity, and strength have made them the right candidate for various other industries like automotive, electronics, etc. Continuous developments in making them less hazardous to the environment will promote market growth. The primary limitations that can have a detrimental effect on market growth are environmental concerns and less heat/fire resistant.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of synthetic fiber.
The entire synthetic fiber market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Home Furnishing
This section covers regional segmentation which accentuates on current and future demand for synthetic fiber market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Synthetic Fiber Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the synthetic fiber market include Bombay Dyeing, E. I. du Pont de Nemours and Company, Indorama Corporation, Lenzing AG, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, China Petroleum Corporation (Sinopec Corp.), Teijin Limited, Toray Chemical Korea, Inc., Toyobo Co., Ltd. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.