About Synthetic Fibers
Synthetic fibers are man-made fibers which are produced by chemical synthesis process. It has superior chemical and physical properties such as high strength, durability, elasticity, and others. Moreover, it is cost-effective compared to natural fibers. Increasing demand for synthetic fibers for clothing, home furnishing, automotive, and filtration application propelling the market growth. Further, the growing textile industry in the developing economies, increasing demand form the automotive industry, and changing fashion trends expected to drive the demand for synthetic fibers over the forecasted period.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the synthetic fibers market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings Analyst at AMA Research estimates that Japan Vendors will contribute the maximum growth to Asia-Pacific Synthetic Fibers market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Dow Chemical Company (United States), BASF SE (Germany), W. Barnet GmbH & Co. KG (Germany), Toray Industries, Inc. (Japan), The CHA Textiles Group (Hong Kong), Eastman Chemical Company (United States), Mitsubishi Chemical Holdings (Japan), Asahi KASEI (Japan) and Aono Pile Co., Ltd. (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Radici Group (Italy) and Indorama Corporation (Indonesia).
Segmentation Overview
AMA Research has segmented the market of Asia-Pacific Synthetic Fibers market by Type (Acrylic, Nylon, Polyester, Rayon, Aramid, Acetate, Polyolefin and Others), Application (Regenerated and Manmade Synthetic Polymer) and Region.
On the basis of geography, the market of Synthetic Fibers has been segmented into Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific). If we see Market by Technology, the sub-segment i.e. Melt Spinning will boost the Synthetic Fibers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Clothing will boost the Synthetic Fibers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fibers, the sub-segment i.e. Filament Fiber will boost the Synthetic Fibers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand of Synthetic Fibers for Home Furnishing and Rising Demand of Durable and Wrinkle Free Fabric Material owing to Busy Lifestyle
Market Growth Drivers:
Low Cost of Synthetic Fibers Compared to Natural Fibers and Increasing Demand for Polyester for Clothing Application
Challenges:
Synthetic Fibers are Prone to Heat Damage and Low Melting Point of Synthetic Fibers
Restraints:
Non-Biodegradable Nature of Synthetic Fibers and Stringent Government Regulations Regarding Synthetic Fiber Owing to Environmental and Safety Concerns
Opportunities:
Increasing Demand of Synthetic Fibers from Automotive Industry and Growing Textile Industry in Developing Economies Such As India, China, and Others
“According to government regulation in India regarding import and export, the IEC number (Import Export Code Number) is mandatory to become an importer or exporter in India. It is issued by the Director-General of Foreign Trade office. For exporting or importing STAPLE FIBERS (Man-Made), INC. YARNS ETC. from/to India, the customs department and other government and non-government agencies of India identify the product on the basis of this eight digits Indian trade classification code. Moreover, for importing STAPLE FIBERS (Man-Made), INC. YARNS ETC. to India or exporting STAPLE FIBERS (Man-Made), INC. YARNS ETC. from India, the 8 digits Indian Tariff Code (ITC) is used to classify the product.”
Analyst View
Asia continues to be in surplus, led by continued capacity growth in China. Latest technology and integration with upstream helped Asian producers remain cost competitive in global surplus market. Tariff and non-tariff trade barriers most actively used against PET trade may alter trade flows but may not affect it in long term.
Key Target Audience
Synthetic Fiber Manufacturers, Suppliers and Distributors, Potential Investors, Raw Material Suppliers, Government Organization, Business Research Firms, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.