Global Synthetic Fibers Market Size By Type (Polyester, Nylon, Acrylic), By Application (Construction, Automotive, Healthcare), By Geographic Scope And Forecast

Synthetic Fibers Market Size And Forecast

Synthetic Fibers Market size was valued at USD 62.90 Billion in 2021 and is projected to reach USD 98.84 Billion by 2030, growing at a CAGR of 5.15% from 2023 to 2030.

Rapid industrialization, reduced manufacturing costs, changing textile consumer tastes, and rising disposable income are expected to boost the worldwide Synthetic Fibers Market in the coming years. The Global Synthetic Fibers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Synthetic Fibers Market Definition

Synthetic fibers are man-made fibers created from chemical substances and polymers. They are also referred to as artificial fibers, as they are not found in nature. Synthetic fibers are made from a combination of various chemical compounds, such as polyethylene, polyester, polypropylene, nylon, and rayon. The production process of synthetic fibers involves heating, spinning, and extruding the polymers into the desired fiber form. Synthetic fibers have become an essential part of the modern fashion and textile industry, and they are widely used in various applications such as clothing, furniture, and technical textiles.

The popularity of synthetic fibers is primarily due to their low cost, durability, and versatility. These fibers are also lightweight and offer easy maintenance, making them a popular choice among consumers. Synthetic fibers have excellent strength, little or no shrinking, rapid drying qualities, low moisture absorption, and other attributes. Sodium hydroxide and carbon disulfide are two chemicals used in the production of synthetic textiles that are often produced from coal, oil, or natural gas. Synthetic textiles are used in a variety of industries, including fashion, construction, and automotive.

Global Synthetic Fibers Market Overview

The increasing demand for lightweight and comfortable clothing has driven the growth of the Synthetic Fibers Market. Synthetic fibers such as polyester and nylon are lightweight, soft, and durable, making them ideal for use in clothing. The growing popularity of athleisure, a trend that combines athletic and leisure wear, has also driven the growth of the Synthetic Fibers Market. Synthetic fibers are often used in athletic wear, as they provide the necessary stretch, durability, and moisture-wicking properties needed for activewear.

Other factors boosting the global Synthetic Fibers Market include a lack of supply and the high cost of natural fibers such as cotton and wool. The non-biodegradability of synthetic fiber limits industry expansion. Furthermore, synthetic fibers are not skin-friendly, making them difficult to wear for extended periods of time. Some people are sensitive to synthetic fibers. As a result, the aforementioned reasons may pose a threat to the worldwide Synthetic Fibers Market growth.

Global Synthetic Fibers MarketSegmentation Analysis

The Global Synthetic Fibers Market is segmented on the basis of Type, Application, and Geography.

Synthetic Fibers Market, By Type

• Polyester
• Nylon
• Acrylic
• Polyolefin
• Others

So, when it comes to synthetic fibers, you've got your playersPolyester, Nylon, Acrylic, Polyolefin, and a bunch of Others. But in 2021, polyester was king, grabbing the biggest slice of the market pie. Why? Well, polyester is a bit of a superhero. It's got awesome strength, doesn't cost a fortune, is super flexible, and you can even recycle it! That's why it's the go-to for tough jobs in industry, like making conveyor belts stronger and reinforcing those car tires. Basically, polyester's popularity is a huge reason the Synthetic Fibers Market is growing. Plus, it's a budget-friendly swap for natural fibers, which boosts demand. Nylon, polypropylene, and acrylic are also popular, but polyester's still on top because it's so useful and easy on the wallet.

You know, these special fibers show up in all sorts of places in your car, like the carpets, upholstery, even the side, roof, floor, and door panels! They're even in important safety features like airbags, fuel filters, and safety belts, not to mention the tires, engine air filters, and insulating materials. Acrylic is really taking off, too, predicted to be the fastest-growing stuff for this kind of thing. People love acrylic fibers because they're soft, strong, and don't shrink or wrinkle easily. Plus, they're made from acrylonitrile and you'll often find them in your sweaters, hats, gloves, and all kinds of home furnishings. And don't forget about nylon; that's expected to grow a lot as well! Nylon is super tough and lightweight. It was originally created for tires and heavy-duty jobs, but now it's a popular choice for clothes and other fabrics because it lasts long and resists stains and wrinkles.

Synthetic Fibers Market, By Application

• Construction
• Automotive
• Healthcare
• Apparel
• Industrial
• Others

Based on Application, the market is segmented into Construction, Automotive, Healthcare, Apparel, Industrial, and Others. In 2021, the apperal category has the largest market share in the Synthetic Fibers Market. Synthetic fibers have a wide range of uses in the garment business, from outerwear to underwear, sporting to casual wear. Synthetic fibers are employed in both men’s and women’s clothing. Synthetic fibers offer various benefits over natural fibers, which is why they have grown so popular in the apparel business.

They are sturdy and long-lasting, easy to care for, wrinkle-resistant, colorfast, and reasonably priced. Over the projected period, the automotive market is predicted to be the fastest-growing application category. Over the next eight years, the increased need for fuel-efficient automobiles and lightweight components is expected to drive demand for Synthetic Fibers in this application. Because of their usage in reinforcing applications, synthetic fibers are also popular in the construction industry.

Synthetic Fibers Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Looking at how different regions are doing, the global synthetic fibers market is divided into North America, Europe, Asia Pacific, and the rest of the world. Back in 2021, Asia Pacific was the biggest player, dominating the global scene. And it looks like they'll stay on top for a while! Why? Because everyone wants more synthetic fibers for things like cars, buildings, and packaging. Plus, with more people and more money to spend in Asia Pacific, the demand is only going to go up. Over in North America, especially in the United States, the market is being pushed forward by a growing desire for these products.

Folks in the United States are expected to keep spending, which should really help things grow, especially for cars and home furnishings. And because everyone's so into outdoor activities, demand for activewear and sportswear is high, meaning we'll probably see a lot more nylon and polyester being used. Plus, these synthetic fibers are popping up more and more in cars, which opens up even more chances for growth. Now, Germany's a big deal when it comes to cars. With giants like Volkswagen, Ford Motor Company, BMW, Porsche, Opel, Audi, and Mercedes-Benz all there, you can bet synthetic fiber use will keep climbing.

Key Players

The “Global Synthetic Fibers Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Bombay Dyeing, China Petroleum Corporation, DuPont, Indorama Corporation, Lenzing AG, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, Teijin Limited, Toray Industries Inc., and TOYOBO CO. LTD.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2021, Teijin Frontier Co., Ltd., the Teijin Group’s fibers and products converting firm, stated on April 1 that it will unite its subsidiary companies Teijin Modern Yarn Co., Ltd. and Shinwa Limited to develop, produce, distribute, and particularly process yarns as Teijin Frontier Knitting Co., Ltd. Teijin Frontier Knitting’s formation is intended to integrate the differences of its two predecessors’ knitting machines with new development and quality-control capabilities for tough items. It is also intended to help Teijin Frontier Group’s circular knitting business expand globally.
• In March 2021, Consolidated Fibers has been bought by Stein Fibers. The Charlotte, NC-based company has been a synthetic fiber industry pioneer, focusing on diverse products for the nonwoven market. Consolidated Fibers adds specialty and specialized goods to Stein’s portfolio in addition to polyester and viscose fibers.
• In April 2019, Raymond Group, a textile maker and retailer, introduced Ecovera, an eco-friendly line of textiles made using R|Elan, a Reliance Industries Ltd. technology (RIL). The Ecovera line will soon be available in 1,500 retailers across 700 locations, according to the business.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Synthetic Fibers Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the Global Synthetic Fibers Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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