Global Recycled Synthetics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Recycled Synthetics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Recycled Synthetics market finds that the global Recycled Synthetics market reached a value of USD 232.92 million in 2022. It’s expected that the market will achieve USD 591.36 million by 2028, exhibiting a CAGR of 16.8% during the forecast period.

Enterprise production costs increase

As the epidemic was gradually brought under control, some factories began to resume work. However, recycled synthetics companies need to protect the lives and health of employees in their production and operations, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and conducting temperature checks on employees every day to ensure their health. These measures will increase production costs and affect the development of recycled synthetics companies.

SMEs face challenges

COVID-19 has a great impact on the after-sales operations of the recycled synthetics industry, especially for small and medium-sized enterprises. The suspension of production not only exacerbated the shortage of funds for small and medium-sized enterprises, but also reduced the solvency of enterprises, which may affect production and sales. Some companies have difficulties in operating and even went bankrupt. The epidemic has severely affected logistics and transportation, and the transportation of raw materials is difficult. The SME industrial chain is imperfect and fragile.

Region Overview:

In 2022, the share of the Recycled Synthetics market in Asia Pacific stood at 48.51%.

Company Overview:

Asahi Kasei is one of the major players operating in the Recycled Synthetics market, holding a share of 45.81% in 2022.

Asahi Kasei Corporation manufactures and distributes synthetic fibers and other industrial chemical materials. The Company produces polyurethane fiber, styrene monomer, acrylonitrile, polyethylene, synthetic rubber, engineering resin, and more. Asahi Kasei also engages in real estate and healthcare businesses.

SHEICO Group is a professional manufacturer of water sports apparel and sportswear. The company has developed innovative proprietary technologies for the production of wetsuits, survival suits, personal flotation devices, performance fabrics, and sports apparel. SHEICO Group also focuses on the development and manufacture of neoprene sheets, neoprene products and Spanflex fabrics.

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its innovative products, technical expertise, and unmatched marketing support.

Segmentation Overview:

By type, Recycled Spandex Fibers segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Apparel, with a market share of 76.93% in 2022.

Key Companies in the global Recycled Synthetics market covered in Chapter 3:

The LYCRA Company
Hyosung TNC
Procotex Corporation
Sheico
Jilin Chemical Fiber Group
Aksa Akrilik Kimya Sanayii A.S.
Asahi Kasei

In Chapter 4 and Chapter 14.2, on the basis of types, the Recycled Synthetics market from 2018 to 2029 is primarily split into:

Recycled Polypropylene Fibers
Recycled Acrylics Fibers
Recycled Spandex Fibers

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Recycled Synthetics market from 2018 to 2029 covers:

Apparel
Household
Industrial and Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)