Global Synthetic Fibers Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Synthetic Fibers Market Overview

"The Synthetic Fibers Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Synthetic fiber is a man-made textile fiber manufactured from chemical substances, unlike other fibers derived from natural substances such as cellulose or protein. Synthetic fiber has an attractive appearance and has similar natural substances as silk. Synthetic fibers are lightweight, smooth, and wrinkle-resistant. They are derived from petroleum or coal. Depending on the type of fiber, these chemicals are combined with alcohols or acids, heated, and then extruded.

Increasing consumer interest in home furnishing is expected to boost the market growth over the forecast period. In-home furnishing and synthetic fibers manufacture blankets, upholstery, bed linen, wall coverings, carpets, and other products. The growth of the real estate sector is expected to boost the home furniture sector. The high presence of retail stores providing home furnishing materials is expected to propel the market growth over the forecast period.

Clothing is expected to account for the major share of the market in terms of revenue and is anticipated to maintain its dominance over the forecast period. Growing demand for clothing that is convenient, easy to maintain, and offers protection due to the busy lifestyles in urban areas is expected to drive the market growth.

Polyester is expected to be the fastest growing type segment owing to the increasing demand for synthetic fiber in clothing applications. The Asia Pacific is expected to be the leading manufacturer and consumer of polyester.

The Asia Pacific is expected to account for the major share of the market and is estimated to maintain its dominance over the forecast period. The presence of a large number of manufacturers in the region is expected to fuel the market growth. Changing consumer preferences in China, India, and South Korea.

Increasing disposable income, changing the lifestyle of the people, and increasing consumer preferences toward the use of synthetic fiber for various applications are expected to boost the market growth over the forecast period in the region. The region's growing automotive, home furniture, and clothing industry is expected to be the major factor driving the growth of synthetic fiber over the forecast period.

Market segmentation and key players operating in the global synthetic fibers market:

By type:

• Polyester
• Acrylic
• Nylon
• Others (Polyolefin, rayon, modacrylic, and olefin)

By application:

• Home furnishing
• Clothing
• Automotive
• Others (Industrial use, filtration)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa