Synthetic Fiber Market is expected to gain a positive CAGR growth in the forthcoming period. A synthetic fiber is a chain of smaller units together and each small unit is a chemical substance blended in a large single unit called a polymer. More commonly, a synthetic fiber is a man-made fiber most identical to natural fibers such as cotton, silk or wool. The common types of synthetic fibers include Rayon, Nylon, Polyester, Acrylic and others. Characteristics of synthetic fibers account for durability, ready availability, low maintenance, and less expensive.
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Commercially, the rising importance of synthetic fiber to textile industry is gaining traction due to higher revenue generation. Features and advantages offered by synthetic fibers are primary driving factors responsible for the growth of synthetic fiber market. Also, the shift in fashion trends and lower cost are some factors contributing to the growth of industry. Additionally, low supply of cotton as a natural fiber is another factor that adds to the growth of synthetic fiber market. However, challenges such as environmental concerns, low-melting point and flammability are some factors that hinder the growth of synthetic fiber industry.
Based on segmentation by product, the synthetic fiber market includes acrylic, nylon, polyolefin, polyester and acetate. Based on segmentation by application, the market includes aerospace, medical and automotive.
Geographically, synthetic fiber market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. APAC market is expected to maintain a positive growth in the forthcoming period with China and India being the prime players in terms of supplier and consumer as well. North America is expected to gain a significant share owing to production of high revenue. Europe market is somehow expected to deliver low CAGR growth owing to low consumption for synthetic fiber
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Top Key Manufacturers of Synthetic Fiber market are :-
- Jushi Group
- Owens Corning
- Toho Tenax
- Akra Polyester
- Asahi Kasei Fiber
Synthetic Fiber Market by Product Type:
- Filament Fiber
- Staple Fibers
Synthetic Fiber Market by Applications:
- Manmade Synthetic Polymer
Geographical Analysis of Synthetic Fiber Market:-
- North America
- Southeast Asia
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