What is Synthetic Fibers Market Scope?
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.
The Synthetic Fibers market study is being classified by Type (Acrylic, Nylon, Polyester, Rayon, Aramid, Acetate, Polyolefin and Others), by Application (Regenerated and Manmade Synthetic Polymer) and major geographies with country level break-up.
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 Analysts at AMA predicts that Vendors from Japan will contribute to the maximum growth of Asia-Pacific Synthetic Fibers market throughout the predicted period.
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 profiled in the study. Additionally, the Vendors which are also part of the research are Radici Group (Italy) and Indorama Corporation (Indonesia).
Segmentation Analysis
Analyst at AMA have segmented the market study of Asia-Pacific Synthetic Fibers market by Type, Application 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).
“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.”
Influencing Market Trend
- Growing Demand of Synthetic Fibers for Home Furnishing
- Rising Demand of Durable and Wrinkle Free Fabric Material owing to Busy Lifestyle
Market Drivers
- Low Cost of Synthetic Fibers Compared to Natural Fibers
- Increasing Demand for Polyester for Clothing Application
Opportunities
- Increasing Demand of Synthetic Fibers from Automotive Industry
- Growing Textile Industry in Developing Economies Such As India, China, and Others
Restraints
- Non-Biodegradable Nature of Synthetic Fibers
- Stringent Government Regulations Regarding Synthetic Fiber Owing to Environmental and Safety Concerns
Challenges
- Synthetic Fibers are Prone to Heat Damage
- Low Melting Point of Synthetic Fibers
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
Customization available in this Study:
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