Synthetic Fiber Market: Overview
The global synthetic fiber market size was worth USD 62.50 billion in 2021 and is estimated to grow to USD 96.13 billion by 2030, with a CAGR of approximately 4.90 percent over the forecast period.
Humans may create synthetic fibers by chemical synthesis, eliminating the need to harvest fiber from plants or animals. They are known as artificial fibers because they are created or produced using machines. These synthetic fibers are often strong, resilient, washable, light, and simple to color. Numerous industries utilize these synthetic fibers, including home furnishings, textiles, buildings, and net manufacture. The enormous increase in clothing demand, particularly in nations focusing on economic growth, is a key driver driving the expansion of the synthetic fiber industry. Positive market effects result from rapid development and rising disposable income. Furthermore, the use of social media is becoming more widespread, and e-commerce, influencer marketing, and social media businesses are all becoming more widely accepted. The development drives the market in technological innovation in new upholstery items brought on by coated textiles.
Synthetic Fiber Market Drivers:
The synthetic fiber market is expanding as a result of the increasing use of textile fabric in various processes, including knitting, weaving, crocheting, and others. These processes primarily manufacture a wide range of finished and semi-finished goods in bedding, clothing, apparel, medical, and other accessories. Additionally, the market for synthetic fibers benefits from an increase in investments, the growth of the oil and gas sector, and developments in the chemical industry.
Synthetic Fiber Market: Restraints
Environmental issues, including manufacturing synthetic fibers that biodegrade, are anticipated to present substantial difficulties for manufacturers worldwide. In addition, synthetic fiber burns more quickly than natural fiber and has a lower melting point. The pollution of local waters with microplastics is significantly influenced by polyester and other synthetic fibers like nylon. In light of this, moving to biosynthetic fiber could assist in avoiding it. Although synthetic fibers are less expensive and natural fibers have additional environmental costs, such as problems with water and land use, an increasing number of consumers are switching to natural fibers, including wool, cotton, silk, and linen. Thus, concerns about the environment and safety are some of the major reasons that may limit the development of the synthetic fiber market.
Synthetic Fiber Market: Segmentation
The global synthetic fiber market has been segmented into type, distribution channel, and application.
Based on type, the synthetic fiber market is divided into polyester, nylon, acrylic, and polyolefin. Among these, the polyester segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Filters, apparel, household goods, tire cord materials, nonwoven fabrics, and industrial fabrics created from polyester fibers. Due to its lack of moisture absorption, polyester is ideal for water, fire, and dirt-resistant coatings. When polyester clothing is finished, it can be pre-shrunk without the fabric later shrinking or stretching out of shape. Polyester fibers are occasionally spun alongside natural fibers to provide specific mixed qualities. Besides this, the nylon category is expected to develop at the fastest rate throughout the forecast period. Unlike naturally occurring fibers, synthetic nylon fibers have the following benefits: lightweight, toughness, flexibility, water resistance, superior strength, abrasion resistance, and cleaning capabilities. Due to these benefits, nylon synthetic material is a great option for various items that people use regularly.
Based on the distribution channel, the synthetic fiber market is classified as offline and online. In 2021, the offline category dominated the global market because consumers are willing to purchase products at retail or wholesale prices since they are appealing and provide satisfied users. On the other hand, the offline category is anticipated to grow significantly over the forecast period. The market’s revenue growth can be due to the rising trend of online shopping, which provides consumers with convenience and simple access.
Synthetic Fiber Market: Regional Landscape
In 2021, North America dominated the market for synthetic fibers since there are many manufacturers in the region, which is expected to promote the expansion of the synthetic fiber market because of the rise in disposable income; significant growth is anticipated in China, India, and South Korea. Major multinational clothing brands like H&M, Dior, Zara, Louis Vuitton, Gucci, and Hermès are present, raising demand for branded clothes and is expected to improve the country’s market for synthetic fibers.
Synthetic Fiber Market: Competitive Landscape
Some of the main competitors dominating the global synthetic fiber market include- Teijin Frontier Co. Ltd., The Dow Chemical Company, Toyobo Co. Ltd., Lenzing AG, Indorama Corporation, E. I. du Pont de Nemours and Company, Bombay Dyeing & Manufacturing Co. Ltd and Toray Chemical Korea Inc.
Recent Developments
- March 2021: Teijin Modern Yarn Co., Ltd., and Shinwa Limited will merge on April 1 to form Teijin Frontier Knitting Co., Ltd., which will develop, produce, distribute, and process yarns. This was announced by Teijin Frontier Co., Ltd., the Teijin Group’s fibers and products converting company.
- April 2019: The eco-friendly Ecovera fabric line was presented by Raymond Group, a fashion and textile manufacturer and retailer employing R|Elan, the newest technology from Reliance Industries Ltd. (RIL). Reliance Industries’ green fiber will be used to produce this new product line.
COVID-19 Impact no Synthetic Fiber Market
The produced fibers market significantly decreased in volume and quantity during COVID-19. This is a result of the severe restrictions imposed in many regions of the world, which have disrupted the production process and the supply chain. By 2021, decreased production in end-of-life industries, including the automobile industry, and a decrease in passenger car sales also affected the synthetic fiber market. The International Textile Manufacturers Federation (ITMF) has conducted a survey that found that, in comparison to pre-pandemic years, an average of 8% of orders and revenue worldwide have decreased in the year 2020.
Global Synthetic Fiber Market is segmented as follows:
Synthetic Fiber Market by Type
- Polyester
- Nylon
- Acrylic
- Polyolefin
Synthetic Fiber Market by Distribution Channel
- Offline
- Online
Synthetic Fiber Market by Application
- Clothing
- Home Furnishing
- Automotive
- Filtration
Synthetic Fiber Market by Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
| Synthetic Fiber Market Report Scope |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 65.56 billion |
| Revenue Forecast in 2030 | USD 96.13 billion |
| Growth Rate | CAGR of 4.9 % from 2022 to 2030 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 – 2021 |
| Forecast Years | 2022 – 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered | Type, Distribution Channel, Application, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | Teijin Frontier Co. Ltd., The Dow Chemical Company, Toyobo Co. Ltd., Lenzing AG, Indorama Corporation, E. I. du Pont de Nemours and Company, Bombay Dyeing & Manufacturing Co. Ltd, and Toray Chemical Korea Inc. |
Table of Content
Synthetic Fiber Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Type
1.4.2. Distribution Channel
1.4.3. Application
2. Synthetic Fiber Market Overview
2.1. Introduction
2.2. Analysis by Type, 2017-2030 (US$ Billion)
2.3. Analysis by Distribution Channel, 2017-2030 (US$ Billion)
2.4. Analysis by Application, 2017-2030 (US$ Billion)
2.5. Market Analysis by Region, 2017-2030 (US$ Billion)
3. Synthetic Fiber Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Type
3.6.2. Distribution Channel
3.6.3. Application
3.6.4. Region
3.7. Value Chain Analysis
4. Synthetic Fiber Market Competition Analysis
4.1. Synthetic Fiber Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion and Distribution
5. Global Synthetic Fiber Market Analysis by Type, Distribution Channel, and Application, 2017-2030 (US$ Billion)
5.1. Type
5.1.1. Global Synthetic Fiber Market Share, by Type, 2021 and 2030
5.1.2. Global Synthetic Fiber Market Revenue, by Type, 2017-2030 (US$ Billion)
5.1.3. By Polyester Market Analysis 2017-2030 (US$ Billion)
5.1.4. By Nylon Market Analysis 2017-2030 (US$ Billion)
5.1.5. By Acrylic Market Analysis 2017-2030 (US$ Billion)
5.1.6. By Polyolefin Market Analysis 2017-2030 (US$ Billion)
5.2. Distribution Channel
5.2.1. Global Synthetic Fiber Market Share, by Distribution Channel, 2021 and 2030
5.2.2. Global Synthetic Fiber Market Revenue, by Distribution Channel, 2017-2030 (US$ Billion)
5.2.3. By Offline Market Analysis 2017-2030 (US$ Billion)
5.2.4. By Online Market Analysis 2017-2030 (US$ Billion)
5.3. Application
5.3.1. Market Share, by Application, 2021 and 2030
5.3.2. Market Revenue, by Application, 2017-2030 (US$ Billion)
5.3.3. By Clothing Market Analysis 2017-2030 (US$ Billion)
5.3.4. By Home Furnishing Market Analysis 2017-2030 (US$ Billion)
5.3.5. By Automotive Market Analysis 2017-2030 (US$ Billion)
5.3.6. By Filtration Market Analysis 2017-2030 (US$ Billion)
6. Global Synthetic Fiber Market Type Analysis by Region, 2017-2030 (US$ Billion)
6.1. Polyester Market Analysis 2017-2030 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Nylon Market Analysis 2017-2030 (US$ Billion)
6.3. Acrylic Market Analysis 2017-2030 (US$ Billion)
6.4. Polyolefin Market Analysis 2017-2030 (US$ Billion)
7. Global Synthetic Fiber Market Distribution Channel Analysis by Region, 2017-2030 (US$ Billion)
7.1. Offline Market Analysis 2017-2030 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Online Market Analysis 2017-2030 (US$ Billion)
8. Global Synthetic Fiber Market Application Analysis by Region, 2017-2030 (US$ Billion)
8.1. Clothing Market Analysis 2017-2030 (US$ Billion)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Home Furnishing Market Analysis 2017-2030 (US$ Billion)
8.3. Automotive Market Analysis 2017-2030 (US$ Billion)
8.4. Filtration Market Analysis 2017-2030 (US$ Billion)
9. Synthetic Fiber Market Analysis by Geography, 2017-2030 (US$ Billion)
9.1. North America Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.1.1. U.S. Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.1.1.1. Type
9.1.1.2. Distribution Channel
9.1.1.3. Application
9.1.2. Canada Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.1.3. Mexico Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2. Europe Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.1. UK Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.1.1. Type
9.2.1.2. Distribution Channel
9.2.1.3. Application
9.2.2. France Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.3. Germany Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.4. Spain Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.5. Russia Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.6. Italy Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.2.7. Rest of Europe Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3. Asia Pacific Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.1. China Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.1.1. Type
9.3.1.2. Distribution Channel
9.3.1.3. Application
9.3.2. Japan Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.3. South Korea Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.4. India Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.5. Australia Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.6. Southeast Asia Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.7. Taiwan Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.3.8. Rest of Asia Pacific Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.4. Latin America Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.4.1. Brazil Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.4.1.1. Type
9.4.1.2. Distribution Channel
9.4.1.3. Application
9.4.2. Argentina Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.4.3. Rest of Latin America Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.5. Middle East Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.5.1. Israel Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.5.1.1. Type
9.5.1.2. Distribution Channel
9.5.1.3. Application
9.5.2. Turkey Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.5.3. Saudi Arabia Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.5.4. UAE Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.5.5. Rest of Middle East Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.6. Africa Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.6.1. Egypt Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.6.1.1. Type
9.6.1.2. Distribution Channel
9.6.1.3. Application
9.6.2. South Africa Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
9.6.3. Rest of Africa Synthetic Fiber Market Analysis 2017-2030 (US$ Billion)
10. Company Profiles
10.1. Teijin Frontier Co. Ltd
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2. The Dow Chemical Company
10.3. Toyobo Co. Ltd.
10.4. Lenzing AG
10.5. Indorama Corporation
10.6. E. I. du Pont de Nemours and Company
10.7. Bombay Dyeing & Manufacturing Co. Ltd
10.8. Toray Chemical Korea Inc
11. COVID-19 Impact Analysis
11.1. Global Synthetic Fiber Market, 2020 – 2030, Pre-V/S Post COVID 19
11.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Synthetic Fiber Market Size In 2022, By Scenario
11.3. Impact on Supply Chain and Production in Synthetic Fiber Market
11.4. Impact on Import and Export
12. Import-Export Analysis
12.1. North America Synthetic Fiber Import-Export, 2017 – 2021
12.2. Europe Synthetic Fiber Import-Export, 2017 – 2021
12.3. Asia Pacific Synthetic Fiber Import-Export, 2017 – 2021
12.4. Latin America Synthetic Fiber Import-Export, 2017 – 2021
12.5. Middle East America Synthetic Fiber Import-Export, 2017 – 2021
12.6. Africa Synthetic Fiber Import-Export, 2017 – 2021
13. Synthetic Fiber Marketing Channel Analysis
13.1. Marketing Channel
13.1.1. Direct Marketing
13.1.2. Indirect Marketing
13.1.3. Development Trend
13.2. Market Positioning
14. Synthetic Fiber Manufacturing Cost Analysis
14.1. Key Raw Materials
14.2. Key Raw Material Suppliers
14.3. Market Concentration Rate
14.4. Manufacturing Cost Structure
14.5. Process Analysis
15. Conclusion
