Introduction of the Synthetic Fibres Market Report

Synthetic fibres are man-made or chemically processed fibres, unlike natural fibres directly obtained from animals. They are obtained by polymerization which involves combining monomers to make a long chain or polymer. They are strain resistant, durable, cost-effective, and have good elasticity, making them fit for use in various industries.

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Market Dynamic

Key Drivers and Emerging Trends

Some of the key drivers boosting the global synthetic fibres market include the growing production of synthetic fibres globally which was estimated to be 111 metric million tonnes in the year 2019 as compared to 66.6 metric million tonnes in the year 2018, according to the textile exchange organisation. This factor will play a major role in the growth of the global synthetic fibres market across the globe. Rising automotive production globally will supplement the demand for synthetic fibres at it is widely used in tyres, airbags, safety belts, seating fabrics among others. Furthermore, due to less preference of cotton clothes owing to wrinkles on them they are sometimes not preferred by all consumers. Synthetic clothes provide a good option to consumers as they are strain and wrinkle-free. This driver will play a vital role in accelerating the growth of the global synthetics market.

Restraint in the Synthetic Fibres Market

However, environmental concerns such as the non-biodegradability of synthetic fibres are expected to pose significant challenges to manufacturers across the globe. Apart from this, synthetic fibres possess a low melting point and burn faster compared to natural fibres. Hence, these factors will act as a barrier to the growth of the global synthetic fibres market.

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Product – Segment Analysis

Based on the product, polyester is expected to grow at a higher CAGR in the global synthetic fibres market during the forecast period. This is due to the growing production of polyester globally, which was estimated to be 57.7 metric million tonnes in the year 2019 compared to 55.1 metric million tonnes in the year 2018, according to the textile exchange organisation. Rayon is also expected to have a lucrative growth over the forecast period in the global synthetic fibres market because of its use in apparel, cords, hoses, and yarns.

Application – Segment Analysis

Based on the application, clothing is projected to capture significant market growth over the forecast period in the global synthetic fibres market. This is due to a range of synthetic fibres from acrylic to polyester to rayon is being used by cloth manufacturers and fashion designers to make attractive and comfortable clothing for their customers. The automotive sector is also expected to hold a good growth over the forecast period due to synthetic fibres in door panels, door handles, dashboards, and others.

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Regional – Segment Analysis:

Based on the region, Asia Pacific is expected to have the higher CAGR in the global synthetic fibres market over the forecast period due to growing demand from countries like India and China. This is owing to large textile trade revenues in countries like India. According to the Ministry of Commerce and Industry, India, the total textile trade was USD 44.89 billion in FY 2018-19 compared to USD 37.44 billion.

Top Market Players

Various notable players operating in the market, include Mitsubishi Rayon, Jushi Group, Owens Corning, Nan Ya Plastics, Toray Industries, Akra Polyester, Performance Fibres, DAK Americas, Technical Absorbents Limited, and Dow. among others. 

Key Developments:

• • In July 2019, DAK Americas subsidiary Alpek Polyester partnered with The Recycling Partnership to support the organization’s aim to increase residential recycling rates and the demand for more availability of recycled materials to support business models. Specifically, Alpek Polyester supports the efforts to enhance the availability of recycled Polyethylene Terephthalate (rPET) to meet growing customer demand for higher rPET content in end-use products.

Segments covered in the Report:

The global synthetic fibres market has been segmented on the basis of product, application, and regions. Based on product, the market is segmented into acrylic, nylon, polyester, rayon, and others. Based on application, the market is segmented into clothing, automotive, aerospace & defense, home furnishing and others. 

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Key questions answered in this research report:

• • At what pace is global synthetic fibres market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in synthetic fibres market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global synthetic fibres market?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What are the various application areas of global synthetic fibres market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Mitsubishi Rayon, Jushi Group, Owens Corning, Nan Ya Plastics, Toray Industries, Akra Polyester, Performance Fibres, DAK Americas, Technical Absorbents Limited, and Dow, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Synthetic Fibres Market by Product

• • Acrylic
  • Nylon
  • Polyester
  • Rayon
  • Others

Global Synthetic Fibres Market by Application

• • Clothing
  • Automotive
  • Aerospace & Defense
  • Home Furnishing
  • Others

Global Synthetic Fibres Market by Region

• • North America Synthetic Fibres Market (Option 1: As a part of the free 25% customization)
    • North America Synthetic Fibres Market by Product
    • North America Synthetic Fibres Market by Application
    • US Synthetic Fibres Market All-Up
    • Canada Synthetic Fibres Market All-Up
  • Europe Synthetic Fibres Market (Option 2: As a part of the free 25% customization)
    • Europe Synthetic Fibres Market by Product
    • Europe Synthetic Fibres Market by Application
    • UK Synthetic Fibres Market All-Up
    • Germany Synthetic Fibres Market All-Up
    • France Synthetic Fibres Market All-Up
    • Spain Synthetic Fibres Market All-Up
    • Rest of Europe Synthetic Fibres Market All-Up
  • Asia-Pacific Synthetic Fibres Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Synthetic Fibres Market by Product
    • Asia-Pacific Synthetic Fibres Market by Application
    • China Synthetic Fibres Market All-Up
    • India Synthetic Fibres Market All-Up
    • Japan Synthetic Fibres Market All-Up
    • Rest of APAC Synthetic Fibres Market All-Up
  • RoW Synthetic Fibres Market (Option 4: As a part of the free 25% customization)
    • RoW Synthetic Fibres Market by Product
    • RoW Synthetic Fibres Market by Application
    • Brazil Synthetic Fibres Market All-Up
    • South Africa Synthetic Fibres Market All-Up
    • Saudi Arabia Synthetic Fibres Market All-Up
    • UAE Synthetic Fibres Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Synthetic Fibres Market All-Up

Major Players Operating in the Synthetic Fibres (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Mitsubishi Rayon
  • Jushi Group
  • Owens Corning
  • Nan Ya Plastics
  • Toray Industries
  • Akra Polyester
  • Performance Fibres
  • DAK Americas
  • Technical Absorbents Limited
  • Dow