The Global Market for Textile Fibers is Projected to Reach 124.6 Million Tons by 2022

Launch of Innovative Fibers & Expanding Applications Drive the Global Textile Materials Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Textile Materials market. The global market for Textile Fibers is projected to reach 124.6 million tons by 2022, driven by the development and launch of innovative blends of textile fibers and yarns, expanding applications and rising demand in emerging countries.

The textile industry is vertically-integrated across the value chain comprising both intermediate as well as finished products encompassing fibers, spun yarn products, broadwoven & knit fabrics, garments and floor coverings. The industry is heterogeneous in nature, and relies on other sectors, particularly clothing and home furnishing for its demand. Expanding population, improving lifestyles, rapid urbanization, especially in emerging countries of Asia-Pacific and Latin America and the resultant demand for sophisticated apparel continue to drive growth in the market. Other factors include continued innovations resulting in newer textile varieties and rise in demand for fabrics of high value and a growing preference towards comfortable, yet affordable clothing among consumers.

The global textile fibers market continues to remain under pressure from high cotton inventories, dwindling costs of synthetic fibers, slowing Chinese demand and receding share of China in global textile fiber production. Despite the volatile market climate, demand for high-quality, high value fibers is expected to remain strong. With the trend shifting towards lightweight fabrics based on finer yarns, R&D activity on development of fiber blends are underway that offer greater comfort and strength. An emerging area of interest is technical textiles that are made mostly using man-made fibers and feature higher performance, versatility, and strength. Man-made fibers consumed by technical fibers include both inorganic fibers and yarns. These fibers exhibit high tenacity, strength, improved flame retardance, and high performance among other desirable properties.

Manufactured/Manmade/Synthetic Fibers constitutes the largest and fastest growing product segment. The growth in the synthetic fibers market is driven by the development of new blends that are gaining acceptance in mass products and high end fabrics, and production of lighter and longer-lasting nonwovens used in various applications including automobiles and packaging. Natural fiber composites are led by strong demand owing to increasing focus on sustainable, eco-friendly and recyclable materials. Apart from increasing adoption in the automotive industry to make lightweight parts, natural fiber composites are receiving immense support from various governments for marketing bio-composite products to protect the environment and human health.

As stated by the new market research report on Textile Materials, Asia-Pacific represents the largest market worldwide for textile fibers with its dominance supported by the strong manufacturing, industrial, automotive, construction and healthcare sectors. The region also ranks as the fastest growing market with a CAGR of 6.0% over the analysis period. Emerging economies in Asia present huge growth opportunities for growth, largely due to growing consumerism in the apparel industry and rise in infrastructure development projects. Growth prospects also emerge from government support for textile industry and regulations mandating the use of technical textiles such as geosynthetics in all infrastructure development projects in most of these economies. 

Major players in the market include Aditya Birla Group, Aksa Akrilik Kimya Sanayii A.S., Asahi Kasei Corporation, Barnhardt Manufacturing Company, Celanese Corporation, Crescent Textile Mills Ltd., Daicel Corporation, DAK Americas LLC, DowDuPont Inc., Eastman Chemical Company, ES FiberVisions Inc., Far Eastern New Century Corporation, Formosa Plastics Group, Freudenberg Performance Materials, Grasim Industries Limited, Honeywell International Inc., Hyosung Corp., Indorama Ventures Public Company Limited, INVISTA, Jaya Shree Textiles, Kuraray Co. Ltd., Marzotto SpA, Mitsubishi Chemical Corporation, Montefibre SpA, Nan Ya Plastics Corporation, NatureWorks LLC, PT Polychem Indonesia Tbk, PT Tifico Fiber Indonesia, Recron Malaysia Sdn Bhd, Reliance Industries Ltd., SASA Polyester Sanayi A.Ş., Sinopec Yizheng Chemical Fiber Co. Ltd., Sinterama SpA, Solvay S.A., Tangshan Sanyou Xingda Chemical Fiber Co. Ltd., Thai Polyester Company Limited, Thai Rayon Public Co. Ltd., The Lenzing Group , Toray Industries Inc., Unifi Inc., and Weiqiao Textile Co. Ltd. among others.

The research report titled “Textile Materials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Textile Materials in terms of Tons for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe) Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East and Africa, and Latin America (Brazil, Mexico and Rest of Latin America). The report analyses the global and regional markets for Textile Fibers by the following Product Group/Segment - Manufactured/Manmade/Synthetic Fibers (Polyester Fiber, Nylon Fibers, Olefin Fibers, Acrylic/Modacrylic Fibers, Cellulosic Fibers and Other Synthetic Fibers); Natural Fibers (Cotton Fiber, Wool Fiber and Silk Fiber); and Specialty Fibers. The report also analyzes the Spun Yarn market by Product Group/Segment - Manufactured/Manmade/Synthetic Yarns (Polyester Spun Yarn, Acrylic/Modacrylic Spun Yarn and Cellulosic Spun Yarn); and Natural Yarns (Cotton Spun Yarn and Wool Spun Yarn).

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