Properties such as stretch, waterproofing and stain, sunlight and oil resistance to boost demand
DUBLIN, October 13, 2021 / PRNewswire / – The “Global Synthetic Fibers Market Size, Share and Trend Analysis Report By Product (Polyester, Nylon, Acrylic), By Application (Apparel, Home Furnishings), By Region (APAC, North America) and the Segment Forecast, 2021-2028 report “has been added to ResearchAndMarkets.com offer.
The global synthetic fibers market size is expected to reach $ 99.78 billion by 2028 registering a CAGR of 6.6%.
Rising demand for clothing and apparel due to changing fashion trends across the globe is likely to drive the market growth during the forecast period.
The properties offered by these products, such as stretch, waterproofing and resistance to stains, sunlight and oil, are expected to increase their demand during the forecast period. In addition, the application of products in various industries, such as clothing, home furnishings, automotive, filtration and others, is expected to add significant growth to the market.
The market is highly dependent on demand and changing consumer preferences, especially for clothing and home furnishings. The increasing adoption of strong and durable fabrics for various land and air adventure sports applications involving parachutes and ropes is expected to positively impact the market growth during the forecast period.
Majority of market players adopt advanced recycling and technology methods. This involves the use of secondary raw materials (MPS) recycled from waste synthetic textile fibers and composites that exhibit antimicrobial properties. This trend is expected to increase over the forecast period as a result of growing environmental and health concerns around the world.
Highlights of the Synthetic Fibers Market Report
Polyester is expected to account for the maximum revenue share by 2028 due to the product’s high penetration in various application industries as it is durable and long-lasting, replacing many natural fibers, such as cotton
Nylon Products Segment Expected To Register Fastest CAGR During Forecast Period
This is due to the extensive use of products for clothing, reinforcement materials in automobiles, and injection molded parts for vehicles and mechanical equipment.
Apparel application segment dominated the market in terms of revenue and volume in 2020 owing to changing consumer fashion trends and demand for economical and easy to care for clothing in various geographic areas.
Asia Pacific is expected to be the largest and most dynamic regional market with a CAGR of over 7% during the forecast period
This growth is attributed to strong demand for products from the region’s clothing, furniture and automotive applications industries.
North America became the second largest regional market in 2020 due to product demand from the apparel segments and automotive applications
EI du Pont de Nemours et Compagnie
Mitsubishi Chemical Holdings Corporation
Reliance Industries Limited
China Petroleum Corporation (Sinopec Corp.)
Toray Chemical Korea, Inc.
Toyobo Co., Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/sy113u
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SOURCE Research and Markets