Synthetic Fiber Manufacturing in the US - Industry Market Research Report

Synthetic Fiber Manufacturing in the US - Industry Market Research Report

Synthetic Fiber Manufacturing in the US

The synthetic fiber manufacturing industry supplies fiber made from petrochemicals to producers of discretionary goods like apparel and home textiles, which have struggled because of unfavorable conditions over the past five years. The industry has been negatively affected by declines in demand from downstream markets, including textile and carpet mills. The pandemic resulted in forced business closures, supply chain disruptions and export delays. Also, increased crude oil prices have caused uncertainty for manufacturers over the past five years since it is a critical input. Overall, revenue has been falling at a CAGR of 4.6% to $6.1 billion over the past five years, including an expected 5.4% decline in 2023. Profit is also expected to fall to 6.4% of revenue in 2023 from 7.6% in 2018.

This industry produces cellulosic and noncellulosic fibers and filaments in the form of monofilament, filament yarn, staple or tow. Key cellulosic organic fibers and filaments include rayon and acetate. Noncellulosic fibers and filaments include acrylic, nylon, polyester and spandex. This industry does not include fiber, yarn or thread mills, thread manufacturers of any other fibers or manufacturers of hemp yarn.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market