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Global Synthetic Fibers Market by Product (Polyester, Acrylics, Nylon), by Application (Clothing, Home Furnishing) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CHM-73360
  • Author: Up Market Research
  • Rating: 4.6
  • Total Reviews: 80
  • No. Of Pages: 228
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global synthetic fibers market was worth USD 59.95 billion in 2020. It is projected to grow at 6.6% compound annual growth rate (CAGR), between 2021 and 2028. The market is expected to grow due to increasing consumer demand for durable, cost-effective and easy-to clean fabrics. These fabrics are made from chemical synthesis. They have excellent chemical, mechanical and physical properties such as strength, softness and elasticity. They also have crease recovery and high luster. These fibers are highly sought-after in many industries such as home furnishing and automotive.

The U.S. will be the largest revenue-generating country in North America's regional market. The market is expected to see growth opportunities due to rapidly changing fashion trends and the rising demand for home furnishing products due to the rise in online e-commerce platforms.

In order to produce synthetic fibers for various industries, there are several regulations. The Environmental Protection Agency (EPA), has established guidelines and standards for organic chemicals, plastics, and synthetic fibers (OCPSF), to reduce and limit the release of volatile organic compounds (VOCs) from synthetic fiber production plants.

In 2020, the largest revenue share was held by the clothing segment. The clothing segment uses fabrics made from synthetic fibers such as rayon, nylon, polyester, and nylon. These fabrics are durable, strong, soft, easy-to-dye, and absorbent.

The market's growth may be impeded by the fluctuating prices of raw materials and high fiber processing costs. Synthetic fibers can be made from petroleum-based chemicals, or petrochemicals. Fibers such as nylon, polyester, and acrylics follow crude oil prices. Therefore, volatility in oil prices can affect these products' prices.

Product Insights

The market leader in synthetic fibers was the polyester product segment, accounting for 48% of global revenue in 2020. This segment will grow at a faster CAGR of 5% from 2021-2028, thanks to its high chemical and abrasion resistance. It is also preferred in the manufacture of clothing materials because it is easy to wash, shape retention and wrinkle-free.

The overall market is expected to grow due to increased demand for polyester fabrics in clothing and home furnishing. The segment is expected to grow because of the high use of industrial polyester fibers such as yarns and ropes used in safety belts, conveyor belts and car tire reinforcements.

Due to their widespread use in the automotive and home furnishing industries, nylon-based products will see significant growth in the next few years. The forecast period will see a significant increase in demand for home furnishing products such as carpets, blankets, upholstery, and bed linen due to an increasing population.

Due to their widespread use in sports and leisure industry clothing and apparel, spandex, rayon and other product types are adding growth opportunities to the market. The growth of other synthetic fibers will be fueled by the increased presence of e-commerce platforms and retail stores that sell spandex apparel for high-performance swimming and cycling.

Application Insights

In 2020, the clothing application segment accounted for more than 46% of the market's revenue. This is due to changing fashion trends that have influenced the global demand for clothing. The segment is expected to be driven by the growing demand for cost-effective, convenient, and protective clothing during the forecast period.

Another factor that positively impacts the demand is the availability of different clothing brands to meet the needs of customers. The region has seen an increase in e-commerce platforms, as well as increased consumer awareness regarding different clothing brands thanks to the Internet-of-Things. This has helped boost the sales of online clothing. Due to increasing interior design aesthetics, the demand for synthetic fibers in the home furnishing market is expected to rise at a substantial rate.

Over the forecast period, there will be an increase in demand for home furnishing products such as mats, cushion & covers and carpets due to the rising housing and real estate construction sectors. Other applications include fishing nets and ropes. According to the Food and Agriculture Organization (FAO), approximately 45% of all fish caught is exported internationally. This is expected to increase demand for fishing nets and thus boost segment growth.

Regional Insights

In 2020, Asia Pacific was the dominant market in both volume and revenue. Due to high production in nylon, nylon, acrylics and other materials in countries such as China and South Korea, Taiwan and India, the region held a greater than 69% revenue share in 2020. Due to rising consumption and population of home furnishing and clothing products, the region will continue to be the dominant market.

North American product demand is primarily derived from the apparel application segment. This trend is expected to increase over the forecast period. Market growth will be boosted by trends such as the made in America initiative and the growing preference for online shopping.

In 2020, the European market was 5,424 kilotons. This is due to an increase in product manufacturing in countries like Turkey, Germany, Italy, and Germany. The market is also growing due to increased demand for automobile seat covers, cushion, drive belts and airbags.

Due to increased investments in the apparel & apparel, construction, and automotive industries, the product demand in Central & South America will likely see significant growth during the forecast period. The market is expected to grow due to rising industrial activity and availability of cheap labor.

Market Share Insights & Key Companies

Market players are embracing advanced manufacturing techniques and methods such as the creation of hybrid composites using natural and synthetic fibers. Market players seek to increase sales by forming partnerships and agreements with brand owners, ecommerce facilitators and retailers.

Due to the existence of multiple companies involved in product production, the market is fragmented. The market is characterised by large manufacturing and distribution facilities that have a large customer base around the world, which are contributing significantly to its growth prospects. The following are some of the major players in the global market for synthetic fibers:

  • Bombay Dyeing

  • E. I. du Pont de Nemours and Company

  • Indorama Corp.

  • Lenzing AG

  • Mitsubishi Chemical Holdings Corp.

  • Reliance Industries Ltd.

  • China Petroleum Corp. (Sinopec Corp.)

  • Teijin Ltd.

  • Toray Chemical Korea, Inc.

  • Toyobo Co., Ltd.

Up Market Research published a new report titled “Synthetic Fibers Market research report which is segmented by Product (Polyester, Acrylics, Nylon), by Application (Clothing, Home Furnishing), By Players/Companies E I du Pont de Nemours and Company, Indorama Corp, Toyobo Co Ltd, China Petroleum Corp (Sinopec Corp), Bombay Dyeing, Teijin Ltd, Reliance Industries Ltd, Toray Chemical Korea Inc, Lenzing AG, Mitsubishi Chemical Holdings Corp”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleSynthetic Fibers Market Research Report
By ProductPolyester, Acrylics, Nylon
By ApplicationClothing, Home Furnishing
By CompaniesE I du Pont de Nemours and Company, Indorama Corp, Toyobo Co Ltd, China Petroleum Corp (Sinopec Corp), Bombay Dyeing, Teijin Ltd, Reliance Industries Ltd, Toray Chemical Korea Inc, Lenzing AG, Mitsubishi Chemical Holdings Corp
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages228
Number of Tables & Figures160
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Synthetic Fibers Industry Outlook

Global Synthetic Fibers Market Report Segments:

The market is segmented by Product (Polyester, Acrylics, Nylon), by Application (Clothing, Home Furnishing).

Synthetic Fibers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Synthetic Fibers Market

Overview of the regional outlook of the Synthetic Fibers Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Synthetic Fibers Market Overview

Highlights of The Synthetic Fibers Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Synthetic Fibers Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Product:

                1. Polyester

                2. Acrylics

                3. Nylon

        7. By Application:

                1. Clothing

                2. Home Furnishing

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Synthetic Fibers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Synthetic Fibers Market Trends

Reasons to Purchase the Synthetic Fibers Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Synthetic Fibers Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Synthetic Fibers Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Synthetic Fibers Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Synthetic Fibers Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Synthetic Fibers Market Size & Forecast, 2018-2028 
      4.5.1 Synthetic Fibers Market Size and Y-o-Y Growth 
      4.5.2 Synthetic Fibers Market Absolute $ Opportunity 


Chapter 5 Global Synthetic Fibers Market Analysis and Forecast by Product
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Product
      5.1.2 Basis Point Share (BPS) Analysis by Product
      5.1.3 Absolute $ Opportunity Assessment by Product
   5.2 Synthetic Fibers Market Size Forecast by Product
      5.2.1 Polyester
      5.2.2 Acrylics
      5.2.3 Nylon
   5.3 Market Attractiveness Analysis by Product

Chapter 6 Global Synthetic Fibers Market Analysis and Forecast by Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Application
      6.1.2 Basis Point Share (BPS) Analysis by Application
      6.1.3 Absolute $ Opportunity Assessment by Application
   6.2 Synthetic Fibers Market Size Forecast by Application
      6.2.1 Clothing
      6.2.2 Home Furnishing
   6.3 Market Attractiveness Analysis by Application

Chapter 7 Global Synthetic Fibers Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Synthetic Fibers Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Synthetic Fibers Analysis and Forecast
   9.1 Introduction
   9.2 North America Synthetic Fibers Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Synthetic Fibers Market Size Forecast by Product
      9.6.1 Polyester
      9.6.2 Acrylics
      9.6.3 Nylon
   9.7 Basis Point Share (BPS) Analysis by Product 
   9.8 Absolute $ Opportunity Assessment by Product 
   9.9 Market Attractiveness Analysis by Product
   9.10 North America Synthetic Fibers Market Size Forecast by Application
      9.10.1 Clothing
      9.10.2 Home Furnishing
   9.11 Basis Point Share (BPS) Analysis by Application 
   9.12 Absolute $ Opportunity Assessment by Application 
   9.13 Market Attractiveness Analysis by Application

Chapter 10 Europe Synthetic Fibers Analysis and Forecast
   10.1 Introduction
   10.2 Europe Synthetic Fibers Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Synthetic Fibers Market Size Forecast by Product
      10.6.1 Polyester
      10.6.2 Acrylics
      10.6.3 Nylon
   10.7 Basis Point Share (BPS) Analysis by Product 
   10.8 Absolute $ Opportunity Assessment by Product 
   10.9 Market Attractiveness Analysis by Product
   10.10 Europe Synthetic Fibers Market Size Forecast by Application
      10.10.1 Clothing
      10.10.2 Home Furnishing
   10.11 Basis Point Share (BPS) Analysis by Application 
   10.12 Absolute $ Opportunity Assessment by Application 
   10.13 Market Attractiveness Analysis by Application

Chapter 11 Asia Pacific Synthetic Fibers Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Synthetic Fibers Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Synthetic Fibers Market Size Forecast by Product
      11.6.1 Polyester
      11.6.2 Acrylics
      11.6.3 Nylon
   11.7 Basis Point Share (BPS) Analysis by Product 
   11.8 Absolute $ Opportunity Assessment by Product 
   11.9 Market Attractiveness Analysis by Product
   11.10 Asia Pacific Synthetic Fibers Market Size Forecast by Application
      11.10.1 Clothing
      11.10.2 Home Furnishing
   11.11 Basis Point Share (BPS) Analysis by Application 
   11.12 Absolute $ Opportunity Assessment by Application 
   11.13 Market Attractiveness Analysis by Application

Chapter 12 Latin America Synthetic Fibers Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Synthetic Fibers Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Synthetic Fibers Market Size Forecast by Product
      12.6.1 Polyester
      12.6.2 Acrylics
      12.6.3 Nylon
   12.7 Basis Point Share (BPS) Analysis by Product 
   12.8 Absolute $ Opportunity Assessment by Product 
   12.9 Market Attractiveness Analysis by Product
   12.10 Latin America Synthetic Fibers Market Size Forecast by Application
      12.10.1 Clothing
      12.10.2 Home Furnishing
   12.11 Basis Point Share (BPS) Analysis by Application 
   12.12 Absolute $ Opportunity Assessment by Application 
   12.13 Market Attractiveness Analysis by Application

Chapter 13 Middle East & Africa (MEA) Synthetic Fibers Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Synthetic Fibers Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Synthetic Fibers Market Size Forecast by Product
      13.6.1 Polyester
      13.6.2 Acrylics
      13.6.3 Nylon
   13.7 Basis Point Share (BPS) Analysis by Product 
   13.8 Absolute $ Opportunity Assessment by Product 
   13.9 Market Attractiveness Analysis by Product
   13.10 Middle East & Africa (MEA) Synthetic Fibers Market Size Forecast by Application
      13.10.1 Clothing
      13.10.2 Home Furnishing
   13.11 Basis Point Share (BPS) Analysis by Application 
   13.12 Absolute $ Opportunity Assessment by Application 
   13.13 Market Attractiveness Analysis by Application

Chapter 14 Competition Landscape 
   14.1 Synthetic Fibers Market: Competitive Dashboard
   14.2 Global Synthetic Fibers Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 E I du Pont de Nemours and Company
      14.3.2 Indorama Corp
      14.3.3 Toyobo Co Ltd
      14.3.4 China Petroleum Corp (Sinopec Corp)
      14.3.5 Bombay Dyeing
      14.3.6 Teijin Ltd
      14.3.7 Reliance Industries Ltd
      14.3.8 Toray Chemical Korea Inc
      14.3.9 Lenzing AG
      14.3.10 Mitsubishi Chemical Holdings Corp
Segments Covered in the Report
The global Synthetic Fibers market has been segmented based on

By Product
  • Polyester
  • Acrylics
  • Nylon
By Application
  • Clothing
  • Home Furnishing
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • E I du Pont de Nemours and Company
  • Indorama Corp
  • Toyobo Co Ltd
  • China Petroleum Corp (Sinopec Corp)
  • Bombay Dyeing
  • Teijin Ltd
  • Reliance Industries Ltd
  • Toray Chemical Korea Inc
  • Lenzing AG
  • Mitsubishi Chemical Holdings Corp

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