The global market for synthetic fibers is expected to grow from 59.98 billion USD to 117.9 billion USD at a CAGR of 7% from 2021 to 2030.
The global market for synthetic fibers was valued at \$59.98 billion in 2020 and is expected to grow in the coming years. During the forecast period from 2021 to 2030, it is projected to grow at a compound annual growth rate (CAGR) of 7%, reaching \$117.9 billion by 2030. Market Trends: Synthetic fibers are produced through the chemical processing of polymers derived from petroleum or coal, or through the chemical modification of natural materials. Synthetic fibers such as nylon, polyester, and acrylic are widely used as alternatives to natural fibers, and their cost-effectiveness and ease of mass production make them valuable across various industries. Technological Innovations: The growth of the synthetic fiber market is further accelerated by technological innovations. New manufacturing techniques and material improvements have enhanced the quality and performance of synthetic fibers, leading to the development of environmentally friendly products. This has increased demand for sustainable products, and market expansion is anticipated. For application methods, please check the [PDF download] button or apply directly through the related links.
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Impact on the Industry: Synthetic fibers play a crucial role in a wide range of fields, including apparel, home goods, and industrial products. These fibers are utilized in various applications due to their durability, lightweight nature, and multifunctionality. Additionally, the expansion of synthetic fiber usage contributes to cost reduction and improved production efficiency. Major Competitors: BASF SE Bombay Dyeing China Petroleum Corp E. I. du Pont de Nemours and Company Indorama Corporation Lenzing AG Mitsubishi Chemicals Holdings Corporation Reliance Industries Ltd. Teijin Ltd The CHA Textiles Group Toray Chemical Korea Inc Toyobo Co., Ltd Types of Synthetic Fiber Market: (Nylon, Polyester, Acrylic, Rayon, Acetate, Others) Applications of the Synthetic Fiber Market: (Apparel, Furnishing, Automotive, Construction, Healthcare, Others)
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