Synthetic Fabrics, valued at US$ 17.33 billion in 2023, are expected to reach US$ 20.88 billion by 2030, with a 2.7% CAGR driven by growing downstream demand.
According to Publisher’s latest study, the global Synthetic Fabrics market size was valued at US$ 17330 million in 2023. With the growing demand in the downstream market, Synthetic Fabrics is forecast to a readjusted size of US$ 20880 million by 2030 with a CAGR of 2.7% during the review period.
Market Overview
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The research report highlights the growth potential of the global Synthetic Fabrics market. Synthetic Fabrics are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Synthetic Fabrics. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities the Synthetic Fabrics market presents.
Synthetic fabrics are textiles made from man-made rather than natural fibres. Examples of synthetic fabrics include polyester, acrylic, nylon, rayon, acetate, spandex, latex, Orlon and Kevlar. Synthetic (chemically produced) fabrics are made by joining monomers into polymers, through a process called polymerization.
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Manmayi Raval
Research Consultant
The report on the Synthetic Fabrics market reflects various aspects and provides valuable insights into the industry.
Market Drivers and Challenges: Man-made fibres made using petrochemicals are known as synthetic fibres. It is renowned for having exceptional strength, flexibility, and durability in both chemical and physical aspects. The primary causes of synthetic fibres' increasing demand worldwide are their low cost as well as their resistance to stains and water. The global synthetic fibres market has grown as a result of the expanding uses of synthetic fibres in the textile, industrial, indoor, outdoor, and commercial sectors. Among the many common and unique synthetic fibres are rayon, spandex, acrylic, polyester, nylon, and carbon fibre. The need for long-lasting, reasonably priced, and machine-washable textiles among consumers worldwide is propelling the expansion of the global synthetic fibre market. Throughout the forecast period, the increased demand for synthetic fibres in clothes, automobiles, home furnishings, and filters is anticipated to fuel the synthetic fibres market's expansion.
The primary growth drivers of the synthetic fibre market are anticipated to be the ever-evolving fashion trends, the expansion of e-commerce, and the rising demand for home furnishings in developed regions like North America and Europe. Better mechanical, chemical, and physical properties of synthetic fibre have been developed as a result of growing technological advancements in production techniques. These fibres are widely utilized in the electronics, food packaging, water purification, air filter, aerospace, and healthcare industries in addition to textiles. This is a key factor propelling the global market for synthetic fibres. Global demand for synthetic fibres is expanding due to factors such as fast industrialization, fast urbanization, rising consumer disposable income, and shifting textile-related consumer behaviour.
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However, environmental issues such as synthetic fibres' lack of integrability could impede market expansion shortly. The demand for organic and natural fibre substitutes for synthetic ones is growing as sustainability becomes more and more of a priority, particularly in industrialized economies. Thus, in the upcoming years, there may be a decline in the demand for synthetic fibres due to growing worries about environmental health.
Market Forecasts and Future Outlook: Innovations in Sustainable Fibers: Ongoing research and development initiatives in bio-based polymers, recycling techniques, and sustainable synthetic fibres present chances to lessen the environmental impact of synthetic fabrics and satisfy customer demand for eco-friendly textiles.
Digitalization and Smart Textiles: Wearable electronics, healthcare, and performance monitoring are just a few of the industries that can benefit from the integration of digital technologies, smart sensors, and functional additives into synthetic fabrics. This innovation and differentiation in the market is fueled by the creation of smart textiles.
Closed-loop systems and the circular economy: In the synthetic fabrics business, using closed-loop manufacturing techniques, textile-to-textile recycling programs, and circular economy principles encourages resource efficiency, waste reduction, and sustainable production practices that are in line with global sustainability goals.
Opportunities: Customization and Personalization: Giving synthetic fabric customers choices for colour, pattern, texture, and performance attributes satisfies their desire for distinctive, customized goods and opens up new avenues for value-added differentiation and brand loyalty.
Collaborative Partnerships and Supply Chain Transparency: Encouraging transparency, traceability, and sustainability throughout the synthetic fabrics value chain by working together with supply chain partners, such as manufacturers, retailers, and fibre producers, promotes trust, accountability, and ethical sourcing methods.
Market Expansion in Emerging Economies: Manufacturers of synthetic fabrics can find new markets in untapped areas with rising disposable incomes and urbanization trends by increasing their market presence in emerging economies, tapping into expanding consumer markets, and customizing their product offerings to local preferences and cultural quirks.
Market Segmentation:
The synthetic Fabrics market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of product, Polyester Type is the largest segment, with a share of about 20%. In terms of application, the largest application is Apparel, followed by Home Textile, Industrial Use, etc.
1. Segmentation by type
• Polyester Type
• Nylon Type
• Acrylic Type
• Rayon Type
• Spandex Type
• Others
2. Segmentation by application
• Apparel
• Home Textile
• Industrial Use
• Others Application
Regional Insights: Asia Pacific is the world's largest manufacturer of nylon, polyester, and acrylics, which are produced in large quantities in countries including South Korea, Taiwan, China, Japan, and India. China and India are the two main markets in the Asia Pacific, which is one of the regions that consume the most textile clothing. The Asia Pacific region is anticipated to have the fastest-growing market throughout the forecast period due to the region's rapid industrialization and urbanization, which are projected to increase demand for a variety of products created from synthetic fibres. The demand for a variety of goods, including blankets, bed linens, seat coverings, and seat belts, is predicted to increase due to the region's rising demand for automobiles and home furnishings in Europe. Therefore, during the predicted period, Europe is anticipated to have significant growth. The market for synthetic fibres is anticipated to increase during the forecast period due to factors such as the surge in demand for apparel, the rise in technological advancements in textile production, and growing expenditures in the expansion of fabric manufacturing facilities in Central and South America.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape-The creation of hybrid composites, which blend synthetic and natural fibres, is one of the cutting-edge technologies and methods that are becoming more and more popular in the worldwide synthetic fibre industry. By investing in alliances and agreements with brand owners, e-commerce facilitators, and retailers, market participants are actively attempting to increase their sales, which in turn contributes to the market's total growth. The product manufacturing landscape is characterized by fragmentation, with a large number of enterprises participating in the process. The reason for this fragmentation is the existence of vast production and distribution centres that serve a sizable global consumer base and create substantial room for market expansion. Global Synthetic Fabric's key players include Far Eastern New Century, Deyongjia Textile, Yongtong, Texhong Textile, and Reliance Industries.
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