Market Research Future published a new 161 pages industry research “Synthetic Fibers Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019–2023” is exhaustively researched and analyzed in the report to help market players to improve their business tactics and ensure long-term success.

Synthetic Fibers Market Research Report by Type (Polyester, Nylon, Polyolefin, and Others), Application (Clothing, Home Furnishing, Automotive, and Others), and Region (North America, APAC, Europe, RoW)-Global Forecast to 2023

Overview

The advancements attainted in the polymerization processes have created a solid base for the expansion of the synthetic fibers market. Reports that assess the chemicals and material industry have been presented by Market Research Future, which creates reports on numerous industry verticals that examine the market progress and forecasts. By 2023, the Synthetic Fibers Market Size is expected to generate revenues worth USD 144,279.9 Mn while progressing at a CAGR of 7.25 % in the forecast period.

The demand for characteristics such as lightweight nature, durability, and wrinkle resistance is expected to bolster the advancement of the synthetic fibers market. Moreover, the collective demand being observed from industries such as automotive, clothing, and home furnishing, to name a few is encouraging the market. The presence of factors such as increased spending potential and the emergence of developing economies is expected to set a positive tone for the growth of the synthetic fiber market. The development of green synthetic fibers is expected to reinforce the growth of the market in the coming years.

Key Players of Synthetic Fibers 

The noteworthy competitors in the synthetic fiber market are Lenzing AG, Toyobo Co. Ltd, Mitsubishi Chemical Holdings Corporation, Indorama Corporation, China Petrochemical Corporation, Bombay Dyeing Inc., Toray Chemical Korea, Inc., DowDuPont, Teijin Limited, and Reliance Industries Limited.

Competitive Analysis

The surge in the market is credited to the presence of favorable market forces are expected to complement the development of the market. The positive reinforcement of the forces of demand and supply is expected to lift the market growth in the coming years. The synergies achieved in the manufacturing of the goods in the market are enhanced, leading to better growth prospects. The availability of productive resources is expected to further the progress of the market in the forecast period.

The increased transaction level in the market is expected to spur an accelerated level of growth in the market. The conception of prodigious competitive advantages is likely to support the progress of the market. A considerable ascension in the number of promoters in the market is estimated to form a beneficial outlook for market growth in the projected period. The relaxation of the barriers to the entry of new players in the market is expected to encourage the expansion of the market in the impending years.

Segmental Analysis

The segmentation of the synthetic fibers market has been conducted on the basis of application, type, and region. On the basis of types, the synthetic fibers market has been segmented into nylon, polyester, acrylic, polyolefin, and others. The applications basis of segmentation of the synthetic fibers market comprises of home furnishing, automotive, clothing, filtration, and others. On the basis of region, the synthetic fiber market is segmented into the Middle East & Africa, Europe, Asia Pacific, Europe, Latin America, and North America.

Detailed Regional Analysis     

The regional assessment of the synthetic fibers market includes regions such as the Middle East & Africa, Europe, Asia Pacific, Europe, Latin America, and North America. The Asia Pacific region’s massive population base and rapid urbanization have led to the acquisition of more than a 50% share of the synthetic fiber market. The substantial consumer population in this region also have an increasing level of disposable income, which has resulted in the elevated demand for clothing and automotive industries.

Besides, the real estate sector in the region is also demonstrating rapid growth due to the continuing urbanization and increases spending on high-quality home furnishings. The market is likely to be directed by China, and the Asia Pacific region market is anticipated to be valued at USD 87,805.5 Mn by the end of 2023. The North American region is second largest in the market in terms of market size and is motivated primarily by the mounting demand for electric vehicles that has strengthened the demand for automotive interior materials. The Middle East and African region are also foreseen to display great potential owing to the incidence of developing economies such as the U.A.E where there are a significant real estate and automotive holdings.

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Table Of Figures

FIGURE 1 GLOBAL SYNTHETIC FIBER MARKET: MARKET STRUCTURE 

FIGURE 2 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 

FIGURE 3 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 

FIGURE 4 ASIA PACIFIC & MARKET SHARE BY COUNTRY (2017 VS 2023) 

FIGURE 5 LATIN AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 

FIGURE 6 MIDDLE EAST & AFRICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 

FIGURE 7 RESEARCH PROCESS OF MRFR 

FIGURE 8 TOP-DOWN AND BOTTOM-UP APPROACH 

FIGURE 9 MARKET DYNAMICS OVERVIEW 

FIGURE 10 DRIVERS IMPACT ANALYSIS: GLOBAL SYNTHETIC FIBER MARKET 

FIGURE 11 RESTRAINTS IMPACT ANALYSIS: GLOBAL SYNTHETIC FIBER MARKET 

FIGURE 12 SUPPLY CHAIN ANALYSIS OF THE GLOBAL SYNTHETIC FIBER MARKET 

FIGURE 13 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL SYNTHETIC FIBER MARKET 

FIGURE 14 GLOBAL SYNTHETIC FIBERS MARKET, BY TYPE, 2015-2023 (USD MILLION) 

FIGURE 15 GLOBAL SYNTHETIC FIBERS MARKET, BY TYPE, 2015-2023 (KILO TONS)

FIGURE 16 GLOBAL SYNTHETIC FIBERS MARKET, BY APPLICATION, 2015-2023 (USD MILLION) 

FIGURE 17 GLOBAL SYNTHETIC FIBERS MARKET, BY APPLICATION, 2015-2023 (KILO TONS) 

FIGURE 18 GLOBAL SYNTHETIC FIBERS MARKET BY REGION, 2015-2023 (USD MILLION) 

FIGURE 19 GLOBAL SYNTHETIC FIBERS MARKET BY REGION, 2015-2023 (KILO TONS) 

FIGURE 20 MARKET STRATEGY ANALYSIS 

FIGURE 21 GLOBAL SYNTHETIC FIBER MARKET: REGIONAL SHARE, 2017, AND CAGR, 2018–2023 (%)