Reports And Data

Synthetic Fibers Market Size – USD 61.56 Billion in 2019, Market Growth - CAGR of 6.5%, Market Trends – High demand from the APAC region.

NEW YORK CITY, NY, UNITED STATES, November 8, 2021 /EINPresswire.com/ -- Growth in real estate and a rise in consumer interest in home furnishing will drive the demand for the market.

The global Synthetic Fibers market is forecasted to reach USD 98.88 Billion by 2027, according to a new report by Reports and Data. Over the forecast period, the superior chemical, physical and mechanical characteristics of Synthetic Fibers are anticipated to drive the demand. Synthetic Fibers are developed from polymers and are regarded as human-made fibers. The evolving lifestyle and growing trend in fashion, increasing demand for increased performance and lightweight content among the populace, and improvements in green Synthetic Fibers are reported as significant factors in the market that are expected to fuel growth in the years ahead. The beneficial chemical characteristics such as moisture resistance, chemical resistance, and abrasion are estimated to accelerate market demand over the forecast period. Polyester has been used widely in textile applications for longevity, wrinkle, and stain resistance considerations. When combined with other Synthetic Fibers, the polyester enhances the appearance of the surface, as it provides more excellent luster.

Market Overview:
The materials and the chemical market is rapidly expanding in terms of revenue in recent years and over the forecast period owing to increasing demand for raw materials and chemicals for various industrial applications such as paper and paint, food and beverages, healthcare and pharmaceutical, manufacturing, construction, and agriculture. Revenue growth of the global Synthetic Fibers market is attributed to factors such as rapid industrialization and urbanization, increasing awareness about green energy, rising inclination towards eco-friendly and biodegradable products, and rising presence for packaged food. In addition, increasing investments in research and development activities, rising disposable income, and increasing demand for products such as soaps, detergents, perfumes for daily usage are fueling the market growth.

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Competitive Landscape:
The report offers precise information about each market player along with global position, business expansion plan, license agreement, research and development investments, and product base expansion plans. The global Synthetic Fibers market is extremely competitive and comprise of key operating at global and regional levels

key participants include Toray Industries, Inc., E. I. du Pont de Nemours, and Company, Lenzing AG, Bombay Dyeing, Teijin Limited, Toyobo Co., Ltd., Indorama Corporation, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, and China Petroleum Corporation, among others.

Further key findings from the report suggest
In terms of revenue, the polyester sector is anticipated to rise at a CAGR of 6.5% from 2019 to 2027, as it finds implementation in various end-use industries like clothing, home refurbishing, automotive, and filtration.

The clothing sector represented Synthetic Fibers' largest market share, and it is anticipated that it will lead the overall market in the coming years. The clothing field involves workwear, menswear, children wear, and womens wear. Due to evolving lifestyles and rising urbanization, this segment is easy to sustain, convenient, and offers security and high demand from emerging economies.

The North American market size was anticipated at USD 16.33 billion in 2019 and is expected to hit USD 26.26 billion by 2027. The U.S. apparel industry is expected to see the most significant gains in the following years due to growing consumer demand.

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For the purpose of this report, Reports and Data has segmented into the Global Synthetic Fibers market on the basis of Type, Distribution Channel, application, and region:
Type Outlook
Polyester
Nylon
Acrylics
Polyolefin
Others

Distribution Channel Outlook
Online
Offline

Application Outlook
Clothing
Home Furnishing
Automotive
Filtration
Others

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Regional Outlook
North America
Europe
Asia Pacific
MEA
Latin America

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Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics and industries and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power, and Energy.

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