Synthetic fibers are man-made or artificial
fibers produced from petrochemicals, which possess superior physical &
chemical properties for instance durability, strength, and elasticity. The
fibers are water & stain resistant and also cost-effective. The fibers have
a wide variety of uses in industrial, commercial, outdoor, and indoor
applications along with apparels.
The key advantages are included easy to
drying, wrinkle free & require less or no ironing, more durable, light in
weight and don’t shrink & lose the color. Apart from advantages, few of the
disadvantages are don’t absorb sweat or moisture, not biodegradable, not good
for human skin and can catch fiber easily.
According to study, “Synthetic
Fibers Market Research Report by Type (Polyester, Nylon, Polyolefin,
and Others), Application (Clothing, Home Furnishing, Automotive, and Others),
and Region (North America, APAC, Europe, RoW)-Global Forecast to 2023” the key
companies operating in the synthetic fibers market are DowDuPont, Bombay Dyeing
Inc., Teijin Limited, China Petrochemical Corporation, Toray Chemical Korea,
Inc., BP Amono, Reliance Industries Limited, Toyobo Co. Ltd., Lenzing AG,
Mitsubishi Chemical Holdings Corporation, Indorama Corporation, Jushi Group,
Toho Tenax, Owens Corning, ALFA, Toray, DAK America, Eastman, Akra Polyester,
Bayer, Cydsa, Asahi Kasei Fiber, Nan Ya Plastics, Fiber Visions, BASF, Huvis,
Guilford Mills, Far Eastern New Century, Hyosung.
Based on product type, synthetic fibers market
is segmented into acrylic, polyester, nylon, acetate, polyolefin, aramid, rayon
and others. Polyester segment holds major share in market owing to rise in
middle-class population in emerging economies. In addition, based on
application, market is segmented into home furnishing, automotive, clothing
(men-wear, children wear, women-wear, and work wear) and others. Home
furnishing segment dominates the market due to upsurge in infrastructural
activities. Clothing segment is estimated to witness higher growth rate as a
result of growth in e-commerce business during the forecast period.
The synthetic fibers market is driven by
growth in demand for lightweight, safe, and high strength materials in
automobile, aerospace, and textile industries, followed by increase in low fuel
consuming & low carbon emitting vehicles, lack of government restrictions,
change in lifestyle & improvement in fashion trend, rise in demand for
automotive interior materials, increase in consumer interest in home
furnishings and rise in advancements in research & development (R&D) of
green bio fibers & green synthetic fiber. However, volatility in the prices
& availability of raw materials and strict ecological regulation associated
with non-biodegradability of synthetic fiber may impact the market. Moreover,
high demand for quality clothing in developed economies and emergence of
greener synthetic fibers are key opportunities for market.
Based on geography, the Asian-Pacific region
holds major share in synthetic fibers market owing to rapid industrialization
& increase in disposable income, presence of a number of applications
including home furnishing, clothing, automotive, and filtration in the region.
The North-American and European regions are projected to witness higher growth
rate due to rapid growth of automotive, & home furnishing industries
coupled with growth in clothing sector over the forecast period. It is expected
that the market will be reached at quick pace on account of high demand in
fashion & apparel industry during the forecast period.
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