Synthetic Fiber Market Size, Share Global Analysis Report, 2021 – 2028

Industry Insights

[175+ Pages Research Report] According to Facts & Factors, The latest finding surrounding the Global Synthetic Fiber Market published by Facts & Factors offers a neatly packaged and comprehensive read. In the current study, the market surrounding synthetic fiber is expected to reach a projected value of USD 102 Billion by 2028 growing at a CAGR of 6.9% from an initial value of USD 63.2 Billion in the year 2020.

Market Overview

Synthetic fibers are fiber components that are derived from synthesized polymers comprised of small molecules that are used for a wider range of applications based on chemicals and petrochemical measures. These forms of material are often polymerized into bonds that often go on form two adjacent carbon atoms. A variety of chemical compounds are often used for describing chemical compounds that are used for producing an offset number of synthetic fibers.

Industry Growth Factors

The global synthetic fiber market is expected to be occupied by contributing factors that can be credited to rising consumer demands for cost-effective, durable, and easy-to-wash fabrics coupled with the latter fibers being procured with added benefits such as excellent chemical resistance, increased mechanical and physical properties, and rising strength and softness qualities to name a few. Additionally, these fibers are often integrated into clothing, home furnishing, filtration, and automotive and others coupled with changing fashion trends will increase the footprint of the global synthetic fiber market during the advent of the forecast period.

The global synthetic fiber market will be driven by lowered costs of synthetic fibers coupled with decreased supply of natural fibers to name a few. Rising focus on research and development activities coupled with lowering environmental impacts of synthetic fibers will boost the growth of the global synthetic fiber market during the advent of the forecast period. However, volatility in oil prices and rising regulatory measures imposed by various global bodies will decrease the market share of the global synthetic fiber market during the advent of the forecast period.

Segmentation Analysis

The global synthetic fiber market is segmented into product, application, and regions.

The global synthetic fiber market is categorized into polyester, nylon, acrylics, polyolefins, and others on the basis of product. The segment pertaining to polyester is expected to witness the largest market share during the advent of the forecast period owing to rising demand for the latter owing to chemical and abrasive resistance coupled with easy integration into the clothing sector in terms of easy wash measures, shape retention, wrinkle-free, and higher perspiration properties to name a few. Additionally, factors pertaining to rising demand for polyester from home furnishing and industrial applications coupled with higher usage of the latter product in terms of yarns and ropes will cement the dominant market growth of the latter during the advent of the forecast period. Based on application, the global synthetic fiber market is divided into clothing, home furnishing, automotive, filtration, and others.

The segment pertaining to clothing is expected to witness the largest market share during the advent of the forecast period owing to an increasing amount of convenient, protective, and cost-effective measures coupled with increasing population to name a few. Factors pertaining to the rising number of clothing brands coupled with an increasing number of e-commerce platforms will increase the market value for the latter market segment.

Report Scope

Regional Analysis

Asia-Pacific is expected to witness the largest market share during the advent of the forecast period owing to rising production of synthetic fibers such as polyester, nylon, acrylics, and others from the emerging economies such as China and India coupled with increasing population to name a few. Additionally, rising demand for home furnishing products coupled with increased penetration of key market players will increase the footprint of the synthetic fiber market during the advent of the forecast period. North America is expected to occupy a substantial market share during the advent of the forecast owing to a well-established clothing sector coupled with a rising presence for online shopping platforms to name a few.

Competitive Players

The key market participants for the global synthetic fiber market are

• Bombay Dyeing
• E. I. du Pont de Nemours & Company
• Lenzing AG
• Mitsubishi Chemical Holdings Corp
• Reliance Industries Inc.
• China Petroleum Corp
• Telijn Ltd.
• Toray Chemical Korea Inc.
• Toyobo Co. Ltd
• W. Barnet GmbH & Co. KG
• The CHA Textiles Group
• Eastman Chemical Company

By Product Segment Analysis

• Polyester
• Nylon
• Acrylics
• Polyolefins
• Others

By Application Segment Analysis

• Clothing
• Home Furnishing
• Automotive
• Filtration
• Others

By Regional Segment Analysis

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA