Synthetic Fibres Market Size – Global Opportunities & Forecast, 2021-2028
The Synthetic Fibres Market analysis foresees a remarkable surge of 3% over the forecast period of seven years. This is because of the user-friendly features su
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Synthetic Fibres Market
The Synthetic Fibres Market analysis foresees a remarkable surge of 3% over the forecast period of seven years. This is because of the user-friendly features such as strain-resilience, wrinkle-free, economical, and durable.
Synthetic Fibres Market Dynamics
The increasing production of synthetic fibres has strengthened the growth of the global synthetic fibres market. For example, according to the research report by textile exchange organisation, the production of synthetic fibre was projected to be 111 metric million tonnes in 2019 in contrast to the 66.6 metric million tonnes in 2018. Synthetic fibres offer a better substitute to customers because of their wrinkle and strain free features. This is another factor that will stimulate the market growth. The increase in the production of automotive will stimulate the market growth as it is largely used in seating fibres, airbag, safety belts, and tyres. Individuals these days have become more inclined towards synthetic fibres over cotton clothes because they get wrinkles on them.
However, the rising agitation towards environment such as the indestructibility of synthetic fibres is anticipated to restrain the market growth. Apart from this, synthetic fibres have a low melting point and catch fire faster as compared to natural fibres. Thus, all this together will restrain the market growth.
Product Segment Drivers
Based on the product, the polyester segment is projected to experience a exponential growth over the coming years. This is attributed to the accelerating production of polyester globally. According to the textile exchange organisation, the polyester production was approximated to be nearly 57.7 metric million tonnes in 2019 as compared to 55.1 metric million tonnes in 2018. Further, Rayon will seize a prominent share in the market because of its increasing usage in cords, apparel, hoses, and yarns.
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