The global Synthetic Fibers market is forecasted to reach USD 111.85 Billion by 2030, according to a new report by Reports and Data. Over the forecast period, the superior chemical, physical and mechanical characteristics of Synthetic Materials are anticipated to drive the demand. Synthetic Materials are developed from polymers and are regarded as human-made fibers. The evolving lifestyle and growing trend in fashion, increasing demand for increased performance and lightweight content among the populace, and improvements in green Synthetic Materials are reported as significant factors in the market that are expected to fuel growth in the years ahead. The beneficial chemical characteristics such as moisture resistance, chemical resistance, and abrasion are estimated to accelerate market demand over the forecast period. Polyester has been used widely in textile applications for longevity, wrinkle, and stain resistance considerations. When combined with other Synthetic Materials, the polyester enhances the appearance of the surface, as it provides more excellent luster.
Synthetic Materials is used in a variety of applications such as clothing, home furnishing, automotive, and filtration, because it imparts valuable quality attributes, including heat and moisture resistance. Customers' growing purchasing potential to buy stylish clothing is expected to cause an increase in demand for different types of fibers. These variables are supposed to bolster market demand. The rising customer interest in home furnishings is spurring segment growth. These fibers are needed by industry for the production of bed linen, sheets, upholstery, wall coverings, soft home decor, rugs, and similar items.
The population increase, along with growing urbanization, also has a significant impact on the home furnishings industry. However, stringent environmental regulation is associated with the non-biodegradability of Synthetic Materials, which limits overall industry growth in the years to come.
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Increasing demand for essential consumer products including soaps, detergents, perfumes, etc., growing production of environmentally sustainable chemicals and raw materials, and technological advancements in chemical and material manufacturing processes are some of the key factors driving the growth trend of the global materials & chemicals market. Rapidly surging demand for organic chemicals and high-performance specialty chemicals in the oil & gas, pharmaceutical, pulp & paper, personal care & cosmetics, food & beverage, agriculture, and textile industries is another important parameter for market growth.
Leading Market Competitors:
Toray Industries, Inc., E. I. du Pont de Nemours, and Company, Lenzing AG, Bombay Dyeing, Teijin Limited, Toyobo Co., Ltd., Indorama Corporation, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, and China Petroleum Corporation, among others
Global Synthetic Materials Market Segmentation:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Polyester
- Nylon
- Acrylics
- Polyolefin
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
Application Outlook (Revenue, USD Billion; 2017-2027)
- Clothing
- Home Furnishing
- Automotive
- Filtration
- Others
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Major Regions covered in the report:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Reasons to Purchase this report:
- The industry analysis report offers actionable insights into the global Synthetic Materials industry and discusses the major growth propellers, limitations, opportunities, and challenges existing in the market.
- The report closely investigates the present and historical market scenarios to help readers predict the market situation over the next seven years.
- The report systematically profiles the leading companies operating in the Synthetic Materials markets, and, at the same time, highlights their long-term business expansion strategies.
- In-depth scrutiny of the Synthetic Materials business landscape with accurate market projections for the forecast period.
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