Global Synthetic Fibers Market is Expected to Register a Healthy CAGR in the Forecast Period of 2019 to 2026

According to Data Bridge Market Research new Market report, global synthetic fiber market will account to an estimated USD 57.70 billion in 2018 growing at a CAGR of 6.15% during the forecast period of 2019 to 2026.

Global Synthetic Fibers Market:

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Global Synthetic Fibers Market:

Synthetic fibers are the exact opposite of natural fibers and are a form of man-made materials. These fibers are created with the process of chemical polymerization; this process helps in making the fibers have enhanced attributes and features, in comparison to the natural fibers present.

Segmentation: Global Synthetic Fibers Market:

Global synthetic fibers market is segmented on the basis of product type, applications and geography.

By Product Type (Acrylic, Nylon, Polyester, Polyolefin, Acetate, Rayon, Aramid, Others), Applications (Apparels, Aerospace, Automotive, Medical, Filtration, Home Furnishing, Construction, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN SYNTHETIC FIBERS MARKET

Acquisition and expansion strategies adopted by major manufacturers

  • In March 2018, KURARAY CO. LTD., announced the completion of its acquisition of Calgon Carbon Corporation. This acquisition is expected to complement both companies’ product portfolio and is expected to enhance their service capabilities.
  • In April 2015, Indorama Corporation’s subsidiary Indorama Ventures announced the acquisition of Performance Fibers Asia, which is expected to create a regional leader of fiber and other materials complementing the products and service portfolio of the companies.

Key Market Competitors:

Few of the major competitors currently working in the synthetic fibers market are DowDuPont, Bombay Dyeing, Indorama Corporation, LENZING AG, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, TEIJIN LIMITED, Toray Chemical Korea Inc., TOYOBO CO. LTD., China Petroleum & Chemical Corporation, Asahi Kasei Corporation, Eastman Chemical Company, Tongkun Group Co. Ltd., Kolon Industries Inc., KURARAY CO. LTD., Owens Corning, NAN YA PLASTICS CORPORATION, BASF SE, Akra Polyester and Radici Partecipazioni SpA.

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