Synthetic Fibers Market Report: Future Opportunities and Key Strategies Adopted by Key Players

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Currently, Asia-Pacific dominates the synthetic fiber market, a situation that will remain the same in the years to come. Indeed, the region is home to many of the world’s largest apparel producers, including India, China, Bangladesh, Vietnam and Hong Kong.

In recent years, customers have shifted from natural fibers to synthetic or man-made fibers due to the cost effectiveness, wider application base and abundant availability of the latter. Additionally, the superior strength, elasticity and wear resistance of synthetic fibers make them more desirable than natural variants. Since synthetic fibers are not dependent on favorable agricultural products and temperature ranges, which are inconsistent due to global warming, their production will not be hampered by changing agricultural patterns and weather conditions.

Acrylic, polyester, polyolefin and nylon are the different types of synthetic fibers produced in contemporary times. In recent years, the consumption of polyester fibers has increased dramatically in heavy industrial applications, such as conveyor belts, due to their high strength and elasticity, low cost and recyclability. Thus, the growing consumption of polyester will help synthetic fiber market to thrive from 2021 to 2030. According to P&S Intelligence, the market generated approximately $60.0 billion in revenue in 2020.

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Moreover, the expansion of the garment industry will also accelerate the consumption of synthetic fibers in the coming years. For example, the Ministry of Textiles of the Government of India states that production of fabrics (excluding wool, silk and khadi) in the country increased from 66,845 million square meters (sq m) in 2017 -2018 to 70,046 million square meters. . in 2018-2019. Additionally, the National Council of Textile Organization (NCTO) states that US textile and apparel shipments totaled $64.4 billion in 2020.

In recent years, synthetic fiber producers, such as Toray Chemical Korea Inc., Teijin Frontier Co. Ltd., Lenzing AG, Indorama Corporation, Toyobo Co. Ltd., EI du Pont de Nemours and Company, The Dow Chemical Company and Bombay Dyeing & Manufacturing Co. Ltd., engaged in mergers and acquisitions to reach more customers. For example, in March 2021, Teijin Frontier Co. Ltd. merged its subsidiaries – Teijin Modern Yarn Co. Ltd. and Shinwa Limited to develop, produce, process and sell yarns under a new name, Teijin Frontier Knitting Co. Ltd.

Browse the detailed report on Synthetic Fiber Market analysis, opportunities, trends, developments and forecast to 2030

Globally, the Asia-Pacific (APAC) region has dominated the synthetic fiber market in the recent past, owing to the large-scale production of acrylic, polyester, nylon and other synthetic fibers in India, Taiwan, Japan and South Korea. . For example, according to the Ministry of Textiles of the Government of India, India produced over 1,441 million kg of man-made fibers in 2017-2018. Furthermore, the ministry reported that India is the second largest producer of viscose and polyester in the world.

Thus, the wide application base of synthetic fibers will amplify their consumption in the coming years.

Synthetic Fibers Market Size Breakdown by Segments

By type

  • Polyester
  • Nylon
  • Acrylic
  • Polyolefin
  • Others

By distribution channel

By request

  • Clothes
  • Furnishing
  • Automotive
  • Filtration
  • Others

By region

  • North America Synthetic Fiber Market
    • By type
    • By distribution channel
    • On demand
    • By country – United States and Canada
    • European synthetic fiber market
    • By type
    • By distribution channel
    • On demand
    • By country – Germany, France, UK, Italy, Spain and rest of Europe
  • Asia Pacific Synthetic Fiber Market
    • By type
    • By distribution channel
    • On demand
    • By Country – Japan, China, India, Australia, South Korea and Rest of APAC
  • Synthetic fiber market in Latin America
    • By type
    • By distribution channel
    • On demand
    • By country – Brazil, Mexico and rest of LATAM
  • Synthetic fiber market in the Middle East and Africa
    • By type
    • By distribution channel
    • On demand
    • By Country – Saudi Arabia, South Africa and Rest of MEA

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Polyester Hot Melt Adhesives Market – Globally, the polyester hot melt adhesives market will exhibit the highest growth rate in Asia-Pacific region in the coming years. This will be due to increasing investments being made in the industry in developing countries such as India, China, Thailand and Vietnam. Additionally, China is a manufacturing hub and one of the largest exporters of electrical and electronic components in the world.

synthetic rubber market – Geographically, the Asia-Pacific region has generated the highest revenue from the synthetic rubber market over the past years. This was due to the high demand for synthetic rubber in the tire and construction industries. Moreover, major automakers are rapidly setting up their manufacturing facilities in APAC countries to strengthen their position in the industry. Currently, the automotive industry is booming in China, driven by the growing demand for clean automobiles, which is also fueling the expansion of the regional market.

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