Global Synthetic Fibers Market Share 2024, Forecast To 2033
19 Jan, 2024
The synthetic fibers market has exhibited robust growth, climbing from $175.06 billion in 2023 to $190.35 billion in 2024, marking an 8.7% CAGR. Historical drivers include demand for cost-effective fibers, textile industry growth, advancements in material science, and performance characteristics. Forecasts suggest continued strength, projecting a size of $258.43 billion in 2028, with a 7.9% CAGR. Growth is attributed to sustainability and recycling, technical textiles growth, innovations in fiber types, and consumer demand for performance apparel. Key trends involve bio-based synthetic fibers, smart and functional fibers, nanotechnology integration, and microfiber textiles.
Global Synthetic Fibers Market Key Driver
Synthetic fibers find extensive use in textiles and home furnishings due to their durability and stain resistance. Polyester is a major tire, belt, and hose material, while nylon is employed in carpet production. By 2030, polyester consumption is expected to triple that of cotton fiber. The increased application of synthetic fibers across end-user industries is anticipated to drive the synthetic fiber market's growth.
Get A Free Sample Of The Global Synthetic Fibers Market ReportGlobal Synthetic Fibers Market Segments
The synthetic fibers market covered in this report is segmented –
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
By Geography: The regions covered in the synthetic fibers market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the synthetic fibers market in 2023. Western Europe was the second-largest region in the global synthetic fibers market share. The regions covered in the synthetic fibers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Synthetic Fibers Industry Players
Bombay Dyeing & Manufacturing Company Limited, DuPont de Nemours Inc., Indorama Corporation, Lenzing AG, Mitsubishi Chemical Group Corporation, Reliance Industries Limited, Sinopec Corp, Teijin Limited, Toray Chemical Korea Inc., Toyobo Co. Ltd., Dow Chemical Company, Toho Tenax Co. Ltd., Koch Industries Inc., Formosa Plastics Corporation, TUNTEX Group Co. Ltd., Asahi Kasei Corporation, Kolon Industries Inc., Hyosung Corporation, Radici Group, Far Eastern New Century Corporation, Indorama Ventures PCL, Nan Ya Plastics Corporation, Formosa Chemicals & Fibre Corporation, China National Chemical Fiber Corp., Huvis Corporation, Unifi Inc., FiberVisions Corporation, Trevira GmbH, Advansa BV, Wellman International Ltd., Kuraray Co. Ltd., Grasim Industries Ltd., Thai Polyester Co. Ltd., JBF Industries Ltd., Polygenta Technologies Limited, Shinkong Synthetic Fibers Corporation
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Synthetic Fibers Market Overview
Synthetic fibers are man-made textiles that are usually made from chemical synthesis materials, such as rayon and acetate from cellulose, or regenerated protein synthetic fibers from zein or casein, as well as fully synthetic fibers.
Synthetic Fibers Global Market Report 2023 provides data on the global synthetic fibers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The synthetic fibers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.