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

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

Synthetic fabrics are textiles made from man-made rather than natural fibers.

Market Overview:

The latest research study on the global Synthetic Fibers market finds that the global Synthetic Fibers market reached a value of USD 97731.7 million in 2022. It’s expected that the market will achieve USD 140126.8 million by 2028, exhibiting a CAGR of 6.19% during the forecast period.

Limitations

The barriers to entry in the synthetic fiber market are not particularly high, but for many producers already in the industry, most of them have raw material cost advantages or labor cost advantages, and they have a large share in the market. For new entrants, fierce market competition cannot be ignored.
Fluctuations in crude oil prices have a greater impact on the development of the synthetic fiber market. Large price fluctuations are not conducive to manufacturers to adjust production capacity and control costs.
The production process of synthetic fibers has an impact on the environment. The government requires enterprises to use environmentally friendly facilities to properly handle pollutants. This will, to a certain extent, eliminate some small manufacturers that have not solved the pollution problem. For larger manufacturers, it will also have certain impact. And international political fluctuations also have a certain impact on the import and export of goods.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

Toray Industries Inc. is one of the major players operating in the Synthetic Fibers market, holding a share of 11.62% in 2018.

Segmentation Overview:

Among different product types, PET segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Apparel segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Synthetic Fibers market covered in Chapter 3:

Jiangsu Eastern Shenghong
Hengli Petrochemical Co
Indorama Ventures
Toray Industries Inc.
Hengyi Petrochemical Co. Ltd
Sinopec
Teijin
Zhejiang Hailide New Material Co. Ltd
Jiangsu Huaxicun Co., Ltd.
Rongsheng Petro Chemical
Xinfengming Group Co
Reliance Industries Limited
TongKun Group Co Ltd
Alpek

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

PET
Nylon
PP

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

Apparel
Home Textile
Industrial Use

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)