Market Research Report
China Synthetic Fiber Market by Fiber Type (Fiberglass, Mineral Wool, Polymer Non-woven, & Other) & Application (Apparel, Home Decor, Building & Construction, Automotive, Appliances, & Other): Opportunity Analysis & Industry Forecast, 2020-2027
|China Synthetic Fiber Market by Fiber Type (Fiberglass, Mineral Wool, Polymer Non-woven, & Other) & Application (Apparel, Home Decor, Building & Construction, Automotive, Appliances, & Other): Opportunity Analysis & Industry Forecast, 2020-2027|
Published: April 1, 2021
Allied Market Research
Content info: 116 Pages
Delivery time: 2-3 business days
The China synthetic fiber market size was valued at $17.0 billion in 2019, and is projected to reach $26.5 billion by 2027, growing at a CAGR of 6.0% during the forecast period.
Synthetic fibers are man-made fibers that are manufactured through chemical synthesis. Properties such as durability, elasticity, and softness make it suitable for applications such as apparel, automotive, and home decor. Fiberglass, mineral wool, polymer non-woven fiber, and polyester are some types of synthetic fiber. Fiberglass also known as glass reinforced plastic or glass fiber reinforced is a lightweight, strong, and less brittles synthetic fiber. Mineral wool is an inorganic and non-metallic compound that is manufactured using mixtures of materials such as stone or silica at elevated temperature range until it turns into molten form. Polymer non-woven fibers offer beneficial properties such as strength, temperature resistance, absorbency, sustainability, and it can be molded into shapes. Polyester is manufactured using coal and petroleum that offers enhanced durability.
The growth of the China synthetic fiber market is attributed to the factors such as rise in production of petrochemical-based synthetic fibers. Petrochemical-based synthetic fibers dominate the global fiber production while 65% of all fiber is produced in China that is majorly used by textile sector. According to the China National Textile and Apparel Council, the China textile sector accounted for $400 million through export and it is predicted to rise with 7% annual growth rate. It is the major growth factor that is predicted to boost the growth of the Chin synthetic fiber market during the forecast period.
Furthermore, rise in interest among Chinese families regarding designing their home and increase in real estate sector boost the demand of synthetic fiber in China. Non-woven fibers are widely used in home decor applications such as furniture, lamp shades, mattress & bedding, and wall coverings. Non-woven fiber offers advantages such as light weight, high strength, softness, and flexibility, making it suitable for home decor applications. However, natural fibers are gaining importance in polymer composite applications such as automotive, construction, and packaging. It is the major factor that is predicted to hamper the market growth.
Synthetic fibers are used in the automotive sector in various applications such as production of automobile carpets, seating fabrics, safety belts, and airbags. In addition, it can also be used during manufacturing of floor & door panels, air filters, insulation materials, door upholstery, and fuel filters. The automotive sector in China is largest in the world in terms of unit production since 2016. In 2018, the annual automobile production of China was over 30%, owing to the well-established automotive sector. This factor is predicted to offer lucrative opportunity to the China synthetic fiber market.
The China synthetic fiber market is segmented on the basis of fiber type and application. Depending on fiber type, the market is categorized into fiberglass, mineral wool, polymer non-woven, and other. On the basis of application, the China synthetic fiber market is classified into apparel, home decor, building & construction, automotive, appliances, and others. The appliance application is further sub-segmented into water heater, large cooking appliances, dishwashers, dryers, and others.
Some of the major players analyzed in this report are Changzhou Tianma Group Co. Ltd., China Jushi Co. Ltd., Foshan Rayson Non-Woven Co. Ltd., Hebei Yuniu Fiberglass Manufacturing Co. Ltd., Jia He Taizhou Glass Fiber Co. Ltd., Luyang Energy-Saving Materials Co, Ltd., Owens Corning, Rockwool China, Toray Fibers (Nantong) Co. Ltd., and Shuhai Huali Advanced Material Co. Ltd.
The China synthetic fiber market report provides in-depth competitive analysis as well as profiles of these major players.
Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.
By Fiber Type
Building & Construction
Large Cooking Appliances
Key players in the China synthetic fiber market are: