Synthetic Fiber Market Size & Trends Report, 2022-2029

Synthetic Fiber Market was valued at USD 60.1 billion in 2021 and is projected to grow at a CAGR of 4.8% over the forecast period, and is estimated to touch USD 87.5 billion in 2029.

The factors driving the growth of Synthetic Fiber Market includes rise in the production of medical products such as face masks, gowns, and surgical cover drapes, growing participation of consumers in sports related activities, expansion of the e-commerce industry and increasing application of recycled polyester fibers in automobile upholstery. Moreover, increasing adoption of advanced technologies by manufacturers, growing demand for activewear and sportswear outfits, rising influence of social media platforms around the world and rapid urbanization, are some of the additional factors supplementing the Synthetic Fibers Market size. In addition, the increasing investments by major corporations on research and development, strategic alliances between industry players and growing population growth rates, are further contributing towards the market growth.

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However, growth of the Synthetic Fibers Market is hindered due to variations in the prices of raw materials.

The leading players player operating in the market are Akra Polyester, Performance Fibres, DAK Americas, Mitsubishi Rayon, Jushi Group, Owens Corning, Technical Absorbents Limited, Nan Ya Plastics, Toray Industries, and Dow. among others.

Based on Product, the Polyester segment is predicted to grow at a significant CAGR during the forecast period

Increasing application of polyester in the manufacturing of vehicle carpets, seating fabrics, sides along with its recyclability properties, are some of the factors responsible for the segment’s growth.

Based on Application, the Clothing segment is projected to expand at a robust CAGR over the forecast period

Synthetic fibers are increasingly used in the production of clothes owing to its enhanced wear resistance, strong durability, and wrinkle-free properties, is pushing Synthetic Fibers Market share.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

Presence of the leading players such as Nan Ya Plastics, Mitsubishi Rayon and Jushi Group, rapid urbanization, increase in the production of masks and surgical cover drapes, technological advancements in automotive upholstery and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Development

  • In July 2019, DAK Americas partnered with The Recycling Partnership to support organization’s plan to enhance residential recycling rates and cater the demand for more availability of recycled materials to support business models.

Market Segmentation

Segmentation by Product

  • Acrylic

  • Nylon

  • Polyester

  • Rayon

  • Others

Segmentation by Application

  • Clothing

  • Automotive

  • Aerospace & Defense

  • Home Furnishing

  • Others

Segmentation by Region

  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of APAC

  • North America

    • United States of America

    • Canada

  • Europe

    • United Kingdom

    • Germany

    • France

    • Spain

    • Rest of Europe

  • RoW

    • Brazil

    • South Africa

    • Saudi Arabia

    • UAE

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