Textiles Fibre Market - Forecast(2022 - 2027)

Textiles Fiber Market is forecast to reach $51.2 billion by 2027, after growing at a CAGR of 4.5% during 2022-2027. Textile fibers are defined as a unique form of polymeric material combining the chemical and physical properties of polymers and the flexibility and strength of the fibrous structure. Textiles fiber can be spun into a yarn or made into a fabric with electrostatic discharge by various methods including weaving, knitting, braiding, felting, and twisting. Increasing demand for apparel as a basic necessity worldwide is driving the growth of the textiles fiber market. Huge demand from construction and automotive industries for acrylate coating, polyester yarn, and electrospinning systems, also augments the growth of the market.

Covid-19 Impact

COVID-19 proved to be a major challenge for the textiles fiber manufacturers due to disruptive supply chain and declining demand from consumers worldwide. Many industries are shuttered due to lack of manpower. Purchasing capital of people also decreased which directly impacted the automotive, construction, and textile industries, and affected the growth of the textiles fiber market. However, due to this pandemic the growth of the healthcare industry is accelerating. The demand for packaging, wipes and medical apparel is increasing which in turn may fuel the demand for textiles fiber

Report Coverage

The report: "Textiles Fiber Market - Forecast (2022-2027)", by IndustryARC, covers an in-depth analysis of the following segments of the Textiles Fiber Market.

By Type: Natural Fiber {Plants (Cotton, Jute, Linen, and Others), Animals (Silk, Wool,), Mineral (Asbestos, Glass Fiber, Ceramic, and Others)}, Synthetic Fiber {Non-Cellulosic Fiber (Acrylic Fiber, Nylon Fiber, Polyester Fiber, Aramid Fiber, and Others), Cellulosic Fiber (Rayon Fiber, Acetate Fiber).

By Application: Industrial, Filters, Tire Cords, Concrete Reinforcement, Feminine & Baby Care Products, Surgical Gloves, Apparels, Bedding & Blankets and Others.

By End-Use Industry: Automotive, Building & Construction, Healthcare, Aerospace and Defense, Textile, Oil & Gas, Energy and Power, and Others.

By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa).

Key Takeaways

In Asia-Pacific region, China has shown the highest growth in the textiles fiber market, owing to the increasing population combined with construction activities in the region due to various government initiatives such as "One Belt, One Road".

Increasing birth rate and aging the population has contributed to the growing demand for hygiene products, such as baby diapers, sanitary napkins, and adult incontinence products, which, in turn is expected to fuel the demand for textiles fiber.

Suring uses of acrylate coating, polyester yarn, and electrospinning systems across various end-use industries also drive market growth.

The outbreak of Covid-19 has disrupted the economic activities which in turn hampers the growth of the market.

Textiles Fiber Market Segment Analysis - By Type

Synthetic fiber segment held the largest share of more than 30% in the textiles fiber market in 2020. The most common synthetic textile fibers are nylon, lyocell, acrylic, aramid, polyester, acetate, and rayon. Synthetic fibers are more durable than natural fibers. In addition, synthetic fibers can handle heavy loads without breaking and offer consumer-friendly functions such as stretching, waterproofing, and stain resistance.

Owing to these factors, these fibers are preferred in various applications including clothing, home furnishing, automotive, construction, toys, different types of ropes, and net manufacturing. According to the International Trade Centre, revenue generated by the import of synthetic filaments increased from $42.15 in 2017 to $45.55 M in 2019. Hence, the exceptional benefits of synthetic fibers over natural fibers and their growing demand are boosting the demand for synthetic fibers.

Textiles Fiber Market Segment Analysis - By Application

Based on the application, industrial segment held the largest share of more than 25% in the textile fibers market in 2020. Widespread usage of textile fibers in various industrial applications, such as transmission belts, conveyor belts, protective apparel, industrial carpet, and flame resistant apparel is fueling the growth of the textiles fiber market. Rising awareness to control industrial accidents and fatalities at the workplace is expected to propel the demand. Furthermore, stringent labor laws coupled with the presence of governing bodies such as the Occupational Safety and Health Administration (OSHA) is expected to increase the demand of textiles fiber for protective clothing.

Textiles Fiber Market Segment Analysis - By End-Use Industry

Building & Construction segment holds the largest share of more than 35% in the textiles fiber market in 2020. In addition to interior applications like bedding, carpets, and curtains, textiles fibers such as glass fiber, kevlar, nylon, and jute are widely used with concrete for reinforcement purposes. Textiles fiber is used with concrete to enrich its strength, flexibility and for the protection against UV and electromagnetic radiation.

Increase in construction activities across the world further fuels the growth of the market. According to the Institution of civil engineers, the volume of construction output will grow by 85% to $15.5 trillion worldwide by 2030, which in turn augment the demand for textile fibers for concrete reinforcement and interior applications.

Textiles Fiber Market Segment Analysis - By Geography

Asia Pacific has dominated the textiles fiber market with a share of more than 40% in 2020 followed by North America and Europe. Population growth coupled with rapid industrialization & urbanization is driving the growth of the textiles fiber market. Surging demand for apparel and the expansion of textile industries across the country is also aiding the growth of the market.

According to Indian Brand Equity Foundation (IBEF), India's textile and apparel exports accounted for US$ 38.70 billion in 2019 and is expected to increase to US$ 82.00 billion by 2021, subsequently augmenting the demand for textile fibers. Furthermore, the increasing spending capability of customers toward purchasing attractive clothing is also expected to trigger market growth.

Textiles Fiber Market Segment Analysis Drivers

Growing demand from health care industries

Surging demand from healthcare for bandages, medical housing, feminine hygiene products, and diapers is fueling the market growth. Growing consumption of acrylate coating and polyester yarn-based cloths in the medical sector also drives the market growth. According to the American Society for Plastic Surgeons (ASPS), 18.1 million cosmetic procedures were performed in 2019. Therefore, the rise in cosmetic surgeries and the prevalence of chronic diseases, such as diabetes & cardiovascular diseases is anticipated to positively impact the market growth. According to the Centre for Medicare and Medicaid Services, total health care spending of the United States grew by 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person. Hence, rising health concerns and an increase in health care spending also boost the growth of the textiles fiber market.

Growing fashion industry and e-commerce is fueling the market growth

Increase in disposable income and the adoption of western culture in emerging economic nations have boosted the growth of the fashion industry. With the rising penetration of the internet and e-commerce across the globe, the reach of textile companies has increased. The perks of e-commerce have not only benefited the companies but also the consumers in terms of pricing and a vast range of options available to them. Moreover, new customers have also been attracted by the online distribution route. This will drive the market growth of textile fibers in the forecast period.

Textiles Fiber Market Segment Analysis Challenges

Volatility in raw material prices

The raw materials often used for manufacturing textile fibers such as spandex, polyester, nylon, etc. are derived from crude oil. So, the price fluctuation of crude oil hinders the growth of the textile fibers market. According to, BP Statistical Review of World Energy, in the recent year there has been an increase in the price volatility of crude oil, such as the crude oil price decreased from $98.95 in 2014 to $52.39 in 2015 and increased from $43.73 in 2016 to $71.31 in 2018. And because of this uncertainty in crude oil prices, the price of textile fibers also increases. Thus, the volatility in crude oil prices is expected to be a significant challenge for textile fibers manufacturers during the forecast period.

Textiles Fiber Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the textiles fiber market report. Major players in the textiles fiber market are, Tongkun Group, Zhejiang Hengsheng Chemical Fiber Co., Ltd., Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Toray Industries, Inc., China Petroleum & Chemical Corporation, Reliance Industries Limited, Grasim Industries, Lenzing AG, Fulida, Kelheim Fibres among others.

Acquisitions/Technology Launches

In June 2020, Grasim Industries Ltd. launched Antimicrobial fibers that not only kill viruses and bacteria, but also inhibits their growth keeping the fabric fresh and hygienic in the long run.

In February 2019, Indorama Ventures Public Co. Ltd. (IVL), acquired the M&G Fibras Brasil, in Cabo de Santo Agostinho, Brazil. The Cabo plant manufactures and supplies Polyester Staple Fiber, with a total polymerization capacity of 75,000 tons/annum.