The Global Synthetic Textile Fiber Market Continues To Grow Owing To the Increased Demand from Fashion Industries Worldwide Despite the Non-Biodegradability of the Material

 

Synthetic Textile Fiber Market

Synthetic textile fibers most commonly used in industrial applications are nylon and polyester fibers. Polyester fibers are more commonly known and used in clothing and other apparel. The nylon fibers are less well known and used in home textiles such as bedspreads and throws. Both of these synthetic fibers are usually spun and woven into textiles for industrial, commercial, and household applications. The uses for synthetics are nearly limitless, as they can be processed into almost any shape, size and texture.

The disadvantages to synthetic textile fibers are that they are prone to damage from abrasion, heat, moisture, and chemicals. However, most uses are not affected and the outcome is typically better than natural fibers. Natural fibers are more expensive and cannot be processed as easily, but are superior in performance and appearance. Synthetic textiles are good for certain applications such as heavy-duty gloves and other apparel, while natural fibers are more suited to hand and body applications.

Market Dynamics                                               

The main driving factor influencing the synthetic textile fibers market is the increased demand from various industries. Synthetic textile fibers have major applications in the textile and fiber technology sector such as the fashion industry. These fibers are appropriate for creating various wearable and dress materials. The rapid demand for synthetic textile fibers from the fashion industry is expected to boost market growth. According to the European Union, clothing and textile are one of the most diversified sectors in the European economy that generates a turnover of approximately US$ 200 billion, with France being the fashion capital of the world. Moreover, the availability of synthetic textile fiber is abundant since it does not on agricultural crops, and is this is expected to influence the market positively. Recently, scientists have been trying to develop bio fibers which are an alternative to the non-biodegradable non-synthetic fiber.

However, the non-biodegradability of synthetic textile fibers and volatile prices are the main restraining factors hindering the market growth.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin America. Among these, Asia Pacific is estimated to hold a bigger share of the synthetic textile fiber market owing to the lack of regulations and growing demand from developing nations such as India and China. For instance, according to the Confederation of Indian Industry (CII), the textile industry of India contributes 7% of industry outputs, 2% of GDP, and 12% of the nation's export earnings, with the state of Maharashtra being the leading textile producer. The lack of regulations is enticing major key players to shift their production to the Asia Pacific. The market in North America is estimated to witness significant growth owing to the growing production and demand for synthetic textile fiber in the region.

Competitive Analysis

Key players operating in the global synthetic textile fiber market are BASF SE, Univex SA, BP Amoco Plc., Bayer AG, DuPont (EI) de Nemours, and Bridgestone Corporation.

In November 2019, Songwon Industrial Co. Ltd. has partnered with Jiangsu Uniwel Chemistry Co. Ltd. for global expansion and to update the company's product portfolio.


Location: India

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