How Global Synthetic Fibers Market Players Should Strategize For 2022-2031

The global synthetic fibers market size 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 global synthetic fibers market size is expected to grow to $217.18 billion in 2026 at a CAGR of 7.8%.

What is the Global Synthetic Fibers Market?

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.

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What drives the Global Synthetic Fibers Market?

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.

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Global Synthetic Fibers Market Segments
The global synthetic fibers market 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.

Synthetic Fibers Global Market Report 2022provides market size and growth forecasts for the global synthetic fibers market, global synthetic fibers market share, synthetic fibers market segments and geographies, synthetic fibers market competitive landscape including leading competitors’ revenues, profiles and market shares. The synthetic fibers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Synthetic Fibers Industry Playersinclude 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. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.