Global Synthetic Fibers Market – Industry Trends and Forecast to 2030

Global Synthetic Fibres Market, By Type (Polyester, Nylon, Acrylics, Polyolefin and Others), Application (Clothing, Home Furnishing, Filtration, Automotive, Others) - Industry Trends and Forecast to 2030.

Synthetic Fibers Market Analysis and Size

Synthetic fibers are being utilized in weaving fabrics, narrow fabrics and felts, and finish and fabricate fabric products, over the last few years. These fabrics are widely being deployed for manufacturing home furnishings products and apparels. As the synthetic fibres have instance strength, elasticity, lightweight, washability, softness, cost efficient, and due to these qualities they are getting preference over other type of fibers across the globe. Therefore, the global market is estimated to witness a significant growth over forecasted period of 2023 to 2030.

Data Bridge Market Research analyses that the global synthetic fibres market which was USD 65.53 billion in 2022, is expected to reach USD 93.91 billion by 2030, growing at a CAGR of 4.60% during the forecast period of 2023 to 2030. “Polyester” dominates the type segment of the global synthetic fibers market owing to increased demand for polyester, which is driven by its properties. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Synthetic Fibers Market Scope and Segmentation

Market Definition.

Synthetic fibers are secured from polymers and are also called as man-made fibers. They exhibit essential features for instance strength, elasticity, lightweight, wash ability, softness, cost efficient and specific features as wrinkle resistance, crease recovery, moisture resistance and high lustre. Due to these factors, the fibers are approved in many implementations for instance clothing, home furnishing, automotive, filtration, construction, toys, different types of ropes and net manufacturing as it conveys essential and important features including heat and moisture resistance.

Global Synthetic Fibers Market dynamics

Drivers

• High Use in Apparel

The enormous increase in the necessity for apparel, particularly in the growth-centric nations acts as one of the major factors driving the growth of global synthetic fibers market. Quick development and increase in the disposable income has a positive impact on the market.

• Penetration of Social Media

The increase in experience to social media and the growing acceptance of e-commerce, influencers, and the social media business accelerate the market growth. The increase in technological advancement in new upholstery products resulting from coated fabrics drives the global market.

• Use of Various Industrial Textile Applications

The increase in the use of synthetic fabric in several processes, such as knitting, crocheting, weaving, and others, are largely used to manufacture a wide range of finished and semi-finished goods in bedding, clothing, apparel, medical, and other accessories assist in the expansion of the market.

Opportunity

• Rising Demand in Emerging Markets

The global synthetic fibers market presents significant opportunities in emerging economies. As disposable incomes increase and urbanization continues, there is a surge in demand for affordable textiles, which synthetic fibers can provide. Emerging markets offer a vast consumer base and a growing middle-class population, creating a substantial opportunity for market expansion.

Restraints/Challenges

• Environmental Concerns and Regulations

Environmental concerns surrounding the production and disposal of synthetic fibers pose a significant challenge. Governments and regulatory bodies are implementing stricter environmental regulations and sustainability standards, increasing production costs and compliance burdens for synthetic fiber manufacturers. Addressing these concerns while maintaining cost competitiveness is a key challenge.

• Competition from Natural Fibers

Natural fibers such as cotton, hemp, and bamboo are gaining popularity due to their biodegradability and eco-friendliness. This poses a restraint to the global synthetic fibers market as it faces competition from these sustainable alternatives. To remain competitive, synthetic fiber producers must continue to innovate and develop environmentally friendly solutions.

This  global synthetic fibers  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global synthetic fibers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In JULY 2022, Norda, a leading innovator in outdoor and performance gear, has formed a strategic partnership with DSM, a global science-based company, to introduce their highly anticipated flagship product. This groundbreaking offering harnesses the cutting-edge capabilities of bio-based Dyneema fiber, marking a significant milestone in sustainable materials and high-performance gear design.

Global Synthetic Fibers Market Scope

The global synthetic fibers market is segmented on the basis of type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Polyester
• Nylon
• Acrylics
• Polyolefin
• Others

Application

• Clothing
• Home Furnishing
• Filtration
• Automotive
• Others

Global Synthetic Fibers Market Regional Analysis/Insights

The global synthetic fibers market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the global synthetic fibers market report are U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Asia-Pacific (APAC) dominates the global synthetic fibers market due to the presence of a large number of manufacturers in the region which is estimated to boost the growth of global synthetic fibers market.

Europe is expected to witness significant growth in the global synthetic fibers market during the forecast period of 2023 to 2030 due to the rise in product manufacturing from countries such as Italy, Germany, and Turkey.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Synthetic Fibers Market Share Analysis

The global synthetic fibers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies focus related to global synthetic fibers market.

Some of the major players operating in the global synthetic fibers market are:

• BASF SE (Germany)
• Huntsman International LLC. (U.S.)
• AdvanSix. (U.S.)
• INVISTA (U.S.)
• Toray Industries, Inc. (Japan)
• Ascend Performance Materials LLC (U.S.)
• Goodfellow (India)
• LANXESS (Germany)
• Ube Industries Ltd. (Japan)
• Domo Chemicals (Belgium)
• Ashley Polymers Inc. (U.S.)
• Toyobo Co. Ltd. (Japan)
• Honeywell International Inc. (U.S.)
• Evonik (Germany)
• Mitsubishi Chemical Corporation. (Japan)
• Solvay (Belgium)
• Arkema (France)
• Asahi Kasei Corporation (Japan)
• DuPont (U.S.)
• Formosa Plastics Corporation (Taiwan)
• DSM (Netherlands)