Global Synthetic Fibers Market, By Product Type (Acrylic, Nylon, Polyester, Polyolefin, Acetate, Rayon, Aramid, Others), Applications (Apparels, Aerospace, Automotive, Medical, Filtration, Home Furnishing, Construction, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Synthetic Fibers Market
Global synthetic fibers market is expected to rise from its initial estimated value of USD 57.70 billion in 2018 to an estimated value of USD 93.02 billion by 2026, registering a CAGR of 6.15% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising growth of the applicable industries and the subsequent rise in demand of applications of synthetic fibers.
Market Definition: Global Synthetic Fibers Market
Synthetic fibers can be described as the man-made fibers that are produced with the help of chemical polymerization and the resulting fibers have superior physical and chemical properties and are generally light in weight as compared to the natural fibers. Due to the high number of characteristics and cost effective nature of these fibers, their demand from the various end-users is on the rise.
- Rise in demand from various end-use industries is expected to drive the market growth
- Lower cost and increased amount of features and characteristics as compared to the natural fibers is expected to drive the market growth
- Presence of strict regulations regarding the non-biodegradable factor of synthetic fibers is expected to restrain the market growth
- Low melting and burning points in comparison to the natural fibers is also expected to restrain the market growth
Segmentation: Global Synthetic Fibers Market
- By Product Type
- By Applications
- Home Furnishing
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- 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.
Competitive Analysis: Global Synthetic Fibers Market
Global synthetic fibers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of synthetic fibers market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Synthetic Fibers Market
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.
Research Methodology: Global Synthetic Fibers Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved