Synthetic Fibers Global Market Report 2022

Synthetic Fibers Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global synthetic fibers market as it emerges from the COVID-19 shut down.

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Where is the largest and fastest growing market for the synthetic fibers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Synthetic Fibers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider synthetic fibers market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The synthetic fibers market section of the report gives context. It compares the synthetic fibers market with other segments of the synthetic fibers market by size and growth, historic and forecast.

Scope

Markets Covered: 1) By Type: Polyester; Nylon; Acrylics; Polyolefin; Other Types

2) By Application: Clothing; Home Furnishing; Automotive; Filtration; Other Applications

3) By Distribution Channel: Online; Offline

Companies Mentioned: Bombay Dyeing; E. I. du Pont de Nemours and Company; Indorama Corporation; Lenzing AG; Mitsubishi Chemical Holdings Corporation

Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Executive Summary

Major players in the synthetic fibers market are Bombay Dyeing, E. I. du Pont de Nemours and Company, Indorama Corporation, Lenzing AG, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, China Petroleum Corporation (Sinopec Corp.), Teijin Limited, Toray Chemical Korea Inc, and Toyobo Co, Ltd.

The global synthetic fibers market is expected to grow from $148.1 billion in 2021 to $160.65 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The market is expected to grow to $217.18 billion in 2026 at a CAGR of 7.8%.

The synthetic fibers market consists of sales of synthetic fibers. Fibers are man-made textile synthetic fibers that are usually made from natural materials, such as rayon and acetate from cellulose, or regenerated protein synthetic fibers from zein or casein, as well as fully synthetic fibers such as nylon or acrylic synthetic fibers.

The types of synthetic fibers are polyester, nylon, acrylics, polyolefin, and other types. Polyester is a group of polymers that consist basically of repeated units of an ester and are used mainly in making fibers or plastics. The applications involved are clothing, home furnishing, automotive, filtration, and other applications. The distribution channels are online and offline.

Asia Pacific was the largest region in the synthetic fibers market in 2021. Western Europe was the second-largest region in the synthetic fibers market. The regions covered in the synthetic fibers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Synthetic fiber is used in a broad range of applications including the textile industry and home furnishings owing to its physical and chemical properties such as high durability, and stain-resistant characteristics. Polyester is one major fiber used in tires, belts, hoses whereas nylon is used for the preparation of carpets. According to a report, by 2030 it is expected that the consumption of polyester will be approximately three times that of cotton fiber. Thus, the increased usage of synthetic fibers in end-user industries is expected to drive the synthetic fibers market.

Synthetic fibers are non-biodegradable and affect the environment negatively. Fragmentation and withering of large synthetic fibers generate microplastics, which affect the ecosystem. Any plastic that is less than 5mm in length is microplastic. Microplastics act as a medium through which harmful chemicals and micro-organisms enter the human body easily. According to a recent study that is started by the World Wildlife Fund and conducted by researchers at the University of Newcastle in Australia, it is estimated that people consume around 5 grams of plastic in a week which is similar to a credit card. As a result, governments impose stringent regulations to curb the use of synthetic fibers restraining the growth of the market.

Increased demand for lightweight and fuel-efficient materials or advanced composite materials is increasing the need for synthetic synthetic fibers. Synthetic fibers made from polymer aromatic polyamide are mainly of two types, para-aramid, and Meta aramid. Aramids, UHME polyethylene, and POA are the major types of specialty synthetic synthetic fibers. Marine, medical, sporting goods, pressure vessel, and reinforcement materials industries are the significant applications for the specialty synthetic fiber market, and growth in these markets is driving the synthetic fibers market. For instance, some of the new products using synthetic synthetic fibers include bioplastics, plastic composites/nanocomposites, self-healing polymers, plastic electronics, and smart and reactive polymers.

In February 2022, Bast Fibre Technologies, a Canada-based textile engineer company acquired Lumberton Cellulose for an undisclosed amount. This acquisition of the Lumberton facility diversifies BFT's natural fiber offerings allowing entry into complementary product categories for cosmetic cotton, filtration, hygiene, and other nonwoven applications. Lumberton Cellulose is a US-based manufacturer of premium natural fibers.

The countries covered in the synthetic fibers market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.