Synthetic Fibers Market Expected To Grow At 10.12%
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LAS VEGAS, Nov. 20, 2017 (GLOBE NEWSWIRE) -- The Synthetic Fibers Market was worth USD 47.12 billion in the year of 2012 and is expected to reach approximately USD 123.54 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 10.12% during the forecast period. The superior mechanical, chemical and physical properties of synthetic fibers are anticipated to boost the market development over the gauge period. Synthetic filaments are derived from polymers and are known as man-made fibers. They reflect profitable properties, for example, lightweight, elasticity, strength, cost-effectiveness, softness, wash ability and uncommon properties, and for example, moisture resistance, crease recovery, high luster, and wrinkle resistance. Attributable to these variables, these fibers are favored in different applications including automotive, furniture, clothing, construction, toys, filtration, different types of ropes and net manufacturing. The expanding consumer inclination towards home furniture is impelling the development in the business portion. The business requires these fibers to make upholstery, bed linen, wall coverings, blankets, carpets, soft home furnishings, and comparable products. The development in the real estate division is powering the expansion in home decorations. The higher existence of retail locations giving the home furniture is another imperative reason driving the market development over the estimate period. The rise in populace; combined with expanding rate of urbanization is additionally having positive ramifications on the market.
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The report Synthetic Fibers Market render a wide-ranging analysis of the said market in terms of product, regional, application and end user segmentation. The report comprises of the present market size of this industry. Also, the potential outlooks and current market summary of this segment has been thoroughly analyzed in this report. Moreover, chief market players of the Synthetic Fibers Market are studied on various factors like product portfolio, company profile, sales analysis, revenue generation through the forecast period.
Application Outlook and Trend Analysis
Clothing developed as the real end-use section representing 45.48 percent of the worldwide share of revenue in 2016. Clothing sector incorporates work wear, menswear, children wear and women’s wear. The ascent in the quantity of city occupants who like to purchase convenient to maintain clothing is bringing about expanded requirement. The customers require clothing which is hassle free, provides protection, and convenient to maintain because of a boisterous way of life in urban zones. As clothing made by making use of synthetic fibers has all the fundamental properties, its demand is anticipated to grow, which is thusly anticipated to bring about expanding interest for polyester. There is tremendous advancement potential for clothing sector in rising economies, for example, China and India. The upsurge in infrastructural exercises in these countries has prompted expanding request from building and development area, which will help the demand of home furnishings. The launch of different government plans, for example, Make in India and Smart City designs is additionally expected to raise the market for home outfitting over the estimate time frame.
Major Market Players
- Toray Industries Inc.
- E. I. du Pont de Nemours and Company
- Mitsubishi Chemical Holdings Corporation
- Lenzing AG
- Indorama Corporation
- China Petroleum Corporation
- Reliance Industries Limited
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Table of Contents
- Introduction 1.1. Report Description 1.2. Research Methodology 1.2.1. Secondary Research 1.2.2. Primary Research
- Executive Summary 2.1. Key Highlights
- Market Overview 3.1. Introduction 3.1.1. Market Definition 3.1.2. Market Segmentation 3.2. Market Dynamics 3.2.1. Drivers 3.2.1.1. Increasing Rate of Urbanization Across the Globe 3.2.1.2. Increasing Application in Automotive Industry 3.2.2. Restraints 3.2.2.1. Stringent Environmental Regulations 3.2.2.2. Non-biodegradability of Synthetic Fiber 3.2.3. Opportunities 3.2.3.1. Emerging Markets to Offer Lucrative Growth Opportunities
- Synthetic Fibers Market, By Application
- Synthetic Fibers Market, By Region
- Company Profiles
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Report’s Magnitude:
This report contains Segment wise in-depth analysis in terms several above-mentioned segments along with market size forecasts and approximations to observe significant areas of industry growth in detail. Additionally, an executive summary, summarizing the entire report in such a way that decision-making team can speedily become familiar with background information, summarizing analysis and main conclusions.
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