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The global synthetic fiber market is expected to reach
USD 88.5 billion by 2025
The superior chemical, physical and mechanical properties of
synthetic fibers are further expected to propel the demand over the
forecast period.
In terms of revenue, polyester was the largest segment in 2016 and
the trend is anticipated to continue at a growth rate of 6.3% over
the forecast period. The useful chemical properties such as
resistance to moisture, chemical and abrasion are expected to boost
the demand among the consumers over the forecast period.
Polyester has been extensively used in clothing applications on
account durability, wrinkle and stain resistance. The polyester
when mixed with other synthetic fibers improves the surface
appearance as it imparts high luster.
Synthetic fiber is used in various applications, such as clothing,
home furnishing, automotive, and filtration, as it imparts useful
functional properties including heat and moisture resistance. The
increasing spending capability of customers toward purchasing
attractive clothing is expected to trigger the demand for various
types of synthetic fibers. These factors together are anticipated
to boost the demand over the forecast period.
The demand for synthetic fiber will further be driven by the growth
in clothing in developed economies including the U.S., Germany, the UK, and France. E.
I. du Pont de Nemours and Company announced the addition of two new
testing facilities in Brazil and
Singapore to test and analyze the
performance of fire protective apparels. The addition of these
facilities will bring the company's total lab count to five. Other
companies in synthetic fiber business are also undergoing expansion
on account of increased demand from developed economies.
Further key findings from the report suggest:
• Polyester segment is expected to experience the fastest growth,
in terms of volume, at a CAGR of 5.4% from 2017 to 2025 as
polyester finds application in various end-use industries such as
clothing, home furnishing, automotive and filtration
• Clothing was estimated as the largest application due to
different types of segments across various geographies
• The U.S. synthetic fiber market, in terms of revenue, was valued
at USD 4,301.6 million in 2016 and is
estimated to reach USD 6,776.7
million by 2025. The clothing industry in the U.S. is
projected to witness the fastest growth over the next eight years
owing to the increasing demand from customers
• Key players including Toray Industries, Inc., E. I. du Pont de
Nemours and Company, Lenzing AG, Indorama Corporation, Mitsubishi
Chemical Holdings Corporation, Reliance Industries Limited, and
China Petroleum Corporation have a prominent presence in the global
masterbatch market
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https://www.reportbuyer.com/product/5291749
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