Worldwide adoption of synthetic fiber is estimated to reap over US$ 90,000 Mn revenues by 2026-end.
Albany, NY -- (SBWIRE) -- 01/18/2018 -- Due to the favorable properties of synthetic fibers such as light-weight, stain-resistant, easy & convenient to dye, and durability, they are widely employed for various applications in the fashion industry. A recent study has revealed that demand for synthetic fibers will witness a tremendous flow in Asia-Pacific excluding Japan (APEJ) on the back of adoption in various industrial applications such as automotive, filtration, clothing, and home furnishing. To explore the global market scenario, Market Research Hub (MRH) has publicized a new study titled "Synthetic Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026" in its massive portfolio. In this 170-page report, the market is explored in detail, and the current market dynamics have been enclosed comprehensively, explaining to the report readers the drivers, restraints and trends effective in this highly competitive market.
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Synthetic fibers are referred to man-made materials, which are produced with the help of chemicals having superior properties compared to natural fibers. Presently, consumers across the globe demand for clothing which is convenient and offers protection in the hectic urban lifestyle. As apparel produced using synthetic fibers comprises all these qualities, their demand will witness a substantial rise among consumers globally. As per the study key findings, the global market for synthetic fiber will ride on a remarkable CAGR during the forecast period (2017-2026). Also, worldwide adoption of synthetic fiber is estimated to gain over US$ 90,000 Mn revenues by 2026-end.
This detailed study covers market analysis which accurately predicts market expansion on the basis of major segments, such as synthetic product type, end-use and region. Apart from the sales growth rate and revenues from sales of synthetic fiber worldwide, intelligence regarding financially worthwhile regions for expansion of the synthetic fiber market is incorporated in this report.
Major product type includes polyester, nylon, acrylic and other synthetic fibers. Among these, polyester is widely used in the interior fabric of these vehicles owing to their lightweight, and abrasion resistance properties.
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On the basis of end-use, use of synthetic fibers is growing in the home furnishing sector, as a booming and rapidly evolving middle class in Asia pushes up demand. The gradual shift towards electric vehicles represents lucrative opportunities for synthetic fiber manufacturers, as the focus is on manufacturing vehicles that are light-weight.
It has been also analyzed that the global synthetic fibers market remains highly fragmented, and a number of players are based in the APEJ. This has led to high production output of synthetic fibers in the region.
At last, the report throws some light on competition involved in the global synthetic fiber market by listing major companies operating in the market some of which are Mitsubishi Chemical Holdings Corporation, Asahi Kasei Fibers Corporation, Lenzing AG, Indorama Corporation, Toray Industries, Inc., Toho Tenax, E. I. du Pont de Nemours and Company, Teijin Limited, Reliance Industries Limited, China Petroleum Corporation, , and Eastman.
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