Synthetic Fibers Market Growth Drivers, Impact Analysis & Business Opportunities

Posted by Priya on May 4th, 2018

Global Synthetic Fibers Market research report published by Market Research Future sharing details on Market Analysis, new Technology, Scope, Stake, Progress, Trends and Forecast up to 2023. Global Synthetic Fibers Market research report spread across 138 Pages consist 36 Tables and 11 Figures  also include Top 10 Global key players that sharing latest types, technology, application by 2023.

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Synthetic Fibers Market- Top 10 global key players and their strategy:

Some of the well-known players operating in the global synthetic fibers market are Bombay Dyeing (India), DuPont (U.S.), Indorama Corporation (Singapore), LENZING AG (Austria), Mitsubishi Chemical Holdings Corporation (Japan), Reliance Industries Limited (India), China Petroleum Corporation (China),  TEIJIN LIMITED (Japan), Toray Chemical Korea Inc (South Korea) and TOYOBO CO., LTD (Japan) among others.

Synthetic Fibers Market– Market Overview / Study Objective / Synopsis

Synthetic fibers are produced by linking the monomers into polymers through polymerization process. They are four types of the product manufactured in the market namely acrylics, polyester, nylon, and polyolefin synthetic fibers. These products are known for their strength, elasticity, wash ability, cost-effective nature, and others. The changing fashion trends and improving lifestyle resulting in growing demand for the product are the important factors influencing the market positively. Due to these factors, they are used in various applications such as clothing, home furnishing, automotive, filtration, and others.

Synthetic Fibers Market – Segment

The global synthetic fibers market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to extension of anti-dumping duty implemented on nylon filament yarn from South Korea, China, Malaysia, Thailand and Indonesia. Countries such as China, Japan, and India are the major players in this region. North America region is estimated to witness a higher growth in the U.S., Canada, and Mexico owing to the increasing demand for artificial fibers in bedspreads, sheets, pillows, and others. The extensive use of polyester fibers in automotive body components, interior and exterior parts have driven the manufacturers to use these materials in the end-use industries due to optimal performance offered by the product. Moreover, it is projected that the implementation of stringent rules and regulations in the major sectors has propelled European region to witness a stagnant growth in Germany, the U.K, and Italy.

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Synthetic Fibers Market–Regional Analysis

North America market is expected to grow at a higher CAGR due to extensive consumption of the product in plastic bottles, balloons, and others. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for man-made products in major sectors are estimated to drive the market during the forecast period.

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