Global Synthetic Fibres Market Enjoys Growing Demand - Bizvibe
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Synthetic fibres refer to the kinds of textile fabrics that are man-made, such as nylon, acrylic, polyester, and carbon fibre. Apart from their superior characteristics in adaptability, durability, elasticity, and strength, synthetic fibres are also more cost effective to make and easier for maintenance as compared to other natural fibres such as cotton and wool. Today, synthetic fibres are widely used in numerous sectors including fashion and apparel, healthcare, aerospace, packaging, electronics, and automotive.

 

Over the last few decades, the global fibre market has seen a significant growth in the demand for synthetic fibres in apparel, home furnishings, and industrial applications. The total annual consumption of synthetic fibres globally has surpassed 55 million tonnes in 2014, representing an over 62% share in the world fibre market. Rapid industrialization, low production cost, changing consumer preferences for textiles, and increasing disposable income are projected to drive the global synthetic fibre market growth further over the next few years

 

China is currently the largest manufacturer of synthetic fibres, accounting for 66% of the global production of synthetic fibres in 2015. India is the second-largest producer with over 8% of global production. India surpassed Taiwan and the United States as a fibre powerhouse in the mid-2000s, thanks to its huge polyester fibre capacity increase. The demand for synthetic fibres is still high in North America, especially in the US, making it the leading market for synthetic textile fibres produced in Latin America and Europe.

 

Manufacturers around the globe are focused on the R&D of various technologies and processes to impart better technical and safety characteristics in their synthetic fibre products. Increased attention has been given to incorporate functional changes in synthetic fibres with little or no hazardous impact on the environment.

 

Meanwhile, world consumers’ preference for durability, better stain resistance, softness, and elasticity in their fibre uses, and manufacturers’ ability to provide all such properties at lower costs is one of the key driving factors for the growth of the global synthetic fibre market. Moreover, the increasing adoption of cheaper synthetic fibres in fashion is expected to have positive effects on the global synthetic fibre market. Finally, the weak supply of natural fibres such as cotton and wool is another factor driving the global synthetic fibre market.

 

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