In a recent published report, Kenneth Research has updated the market report for Synthetic Fibers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Synthetic Fibers Market products.
Synthetic Fibers Market Research Report by Type (Polyester, Nylon, Polyolefin, and Others), Application (Clothing, Home Furnishing, Automotive, and Others), and Region (North America, APAC, Europe, RoW)-Global Forecast to 2023
The synthetic fiber industry is one of the most worthwhile industry. As the worldwide supply of natural fibers stays constrained, the shortage is satisfied by synthetic fibers. The synthetic fibers and its sale have grabbed steam as of late additionally because of their growing application. While common fiber manufacturing depends on assets acquired from living beings, synthetic fiber is delivered simply by compound amalgamation.
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Clothing is one of the most vital parts of the synthetic fibers industry and huge percentage of such fibers are utilized by the clothing industry which is one of the major reasons for the growth of the global synthetic fibers market. The synthetic fibers are even used in the making of various home furnishing and upholstery products because of which the demand for such fibers is higher in different global regions. The global synthetic fibers market is projected to expand at a growth rate of 7.25% CAGR during the forecast period 2018 to 2023.
The global synthetic fibers market is classified on the basis of its type, application and regional demand. Based on its type, the market is segmented as nylon, acrylic, polyester, polyolefin and others. On the basis of its application, the market is divided into home furnishing, clothing, filtration, automotive and others.
Geographically, the global synthetic fibers market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Toyobo Co. Ltd, Mitsubishi Chemical Holdings Corporation, DowDuPont, Bombay Dyeing Inc., Lenzing AG, Teijin Limited, Toray Chemical Korea, Inc., China Petrochemical Corporation, Reliance Industries Limited, Indorama Corporation, among others are some of the major players in the global synthetic fibers market
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Table of Contents:
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
3 Market Insights
3.1 Key Takeaways
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
5.2.1 Drivers Impact Analysis
5.2.2 Increasing Consumer Interest in Home Furnishings
5.2.3 Rising Demand for Automotive Interior Materials
5.3.1 Restraints Impact Analysis
5.3.2 Volatility in the Prices and Availability of Raw Materials
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