Global Synthetic Textile Fiber Market: Overview
Synthetic textile fibers are referred to the textile fabric that is not a naturally occurring fiber but a man-made one. The most common synthetic textile fibers are polylactide, olefin, spandex, nylon, lyocell, lurex, luminex, ingeo, acrylic, aramid, polyester, tencel, acetate, and rayon. Several scientists discovered synthetic fibers with extensive and incessant research over the past few years. Synthetic textile fibers were developed chiefly from extrusion, fiber-forming raw materials through spinnerets into the air and thus creating a thread. Before the introduction of synthetic fibers, textile fibers were mainly produced artificially from a material known as cellulose, which is extracted from plants. It is, however, obligatory for textile companies to provide details on the textile contents on the label of their product. This information is then processed for testing textiles under several conditions and to meet the required safety standards.
The report is an in-depth investigation into the growth trajectory in terms of the past, present, and future opportunities of the global synthetic textile fiber market. It provides an evaluation of the dynamics that might probably impact the growth of the market and the dominant trends have also been mentioned in the research publication. The study further presents a diverse outlook of the competitive scenario of the market by utilizing the value chain and Porter’s five forces analysis. The market shares, strategies, and product description of the leading companies have also been mentioned in the study.
Global Synthetic Textile Fiber Market: Trends and Opportunities
Synthetic textile fibers are commonly used than the naturally occurring fibers and comprise of almost the half of the total fiber usage across the globe. The synthetic textile fibers are employed in almost every fiber and textile technology field, especially in the fashion industry. These fibers have unique characteristics that make them suitable for being used as a dress material. These synthetic textile fibers are abundant in nature as they are not dependent on any agricultural crops. Some of the qualities of synthetic textile fibers are stain and rot resistance, easy to wash and dry, are resistant to pests and insects, and they pick up dyes very easily. The other factors that are expected to drive the demand for synthetic textile fiber market are its durability and low cost.
However, the synthetic fibers also have some disadvantages such as they burn comparatively faster than natural fibers, they melt easily, and can’t be worn for a longer period of time as they are not skin friendly. To combat these issues, scientists and researchers are focusing on developing biofibers to reduce the dependence on synthetic textile fibers and reduce the pressure on oil sources.
Global Synthetic Textile Fiber Market: Regional Outlook
The demand and production of synthetic fibers is considerably high in North America thus making it the leading market for synthetic textile fibers trailed by Latin America and Europe in the exact order. The market is likely to mature over the coming years owing to environmental regulations in the region and the rising use of green fibers. Manufacturers are likely to focus on the Asia Pacific market owing to fewer regulations and rising demand.
Companies Mentioned in the Report
A few of the leading companies operating in the global synthetic textile fiber market are Bridgestone Corporation, BP Amono Plc., Univex SA, Bayer AG, BASF SE, and DuPont (EI) de Nemours.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.