The global synthetic fiber market is
expected to reach USD 88.5 billion by 2025, according to a new report by Grand
View Research, Inc. The superior chemical, physical and mechanical properties
of synthetic fibers are further expected to propel the demand over the forecast
period.
In terms of revenue, polyester was the
largest segment in 2016 and the trend is anticipated to continue at a growth
rate of 6.3% over the forecast period. The useful chemical properties such as
resistance to moisture, chemical and abrasion are expected to boost the demand
among the consumers over the forecast period. Polyester has been extensively
used in clothing applications on account durability, wrinkle and stain
resistance. The polyester when mixed with other synthetic fibers improves the
surface appearance as it imparts high luster.
Synthetic fiber is used in various
applications, such as clothing, home furnishing, automotive, and filtration, as
it imparts useful functional properties including heat and moisture resistance.
The increasing spending capability of customers toward purchasing attractive
clothing is expected to trigger the demand for various types of synthetic
fibers. These factors together are anticipated to boost the demand over the
forecast period.
The demand for synthetic fiber will further
be driven by the growth in clothing in developed economies including the U.S.,
Germany, the UK, and France. E. I. du Pont de Nemours and Company announced the
addition of two new testing facilities in Brazil and Singapore to test and
analyze the performance of fire protective apparels. The addition of these
facilities will bring the company’s total lab count to five. Other companies in
synthetic fiber business are also undergoing expansion on account of increased
demand from developed economies.
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or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/synthetic-fibers-market
http://www.grandviewresearch.com/industry-analysis/synthetic-fibers-market
Further key findings from the report suggest:
· Polyester segment is expected to experience
the fastest growth, in terms of volume, at a CAGR of 5.4% from 2017 to 2025 as
polyester finds application in various end-use industries such as clothing,
home furnishing, automotive and filtration
· Clothing was estimated as the largest
application due to different types of segments across various geographies
· The U.S. synthetic fiber market, in terms
of revenue, was valued at USD 4,301.6 million in 2016 and is estimated to reach
USD 6,776.7 million by 2025. The clothing industry in the U.S. is projected to
witness the fastest growth over the next eight years owing to the increasing
demand from customers
· Key players including Toray Industries,
Inc., E. I. du Pont de Nemours and Company, Lenzing AG, Indorama Corporation,
Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, and
China Petroleum Corporation have a prominent presence in the
global synthetic fiber market
Grand View Research has segmented the
global synthetic fiber market on the basis of type, application, and region.
Synthetic Fiber Type Outlook (Volume, Kilo
Tons; Revenue, USD Million; 2014 - 2025)
·
Polyester
·
Nylon
·
Acrylics
·
Polyolefin
·
Others
Synthetic Fiber Application Outlook
(Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
·
Clothing
·
Home Furnishing
·
Automotive
·
Filtration
·
Others
Synthetic Fiber Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Taiwan
·
Central & South America
o
Brazil
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
