Rise in textile industry is playing significant role in the overall development of synthetic fibers market

 

Synthetic fibers were discovered in 1838 during the Paris salon des Beaux-arts by Louis Delaporte. Synthetic fiber is produced by mixing a certain combination of natural fibers into a matting and heat forming process. Nowadays synthetic fibers are commonly used for making textiles, napkins, bed sheets, draperies, cushions, blankets, mattress covers, furniture coverings, etc. Synthetic fibers come in different textures, styles, and colors. Synthetic wool, Jute, Sisal, Synthetic rayon, Synthetic flax, Jute, and silk are some of the most commonly used synthetic fibers. Stretch, plush, nylon, and polyester fiber are some of the other synthetic fiber.

 

High demand for product from automotive, filtration, home furnishing, toys, and different types of ropes is predominantly fueling the market growth. The rise in the clothing industry is playing a significant role in the expansion of the synthetic fiber market. Growing consumer focus on home furnishing is driving demand for bed linen, upholstery, blankets, wall coverings, carpets, soft home furnishings, and similar other products. Expansion of the automotive industry is increasing demand for synthetic fiber where it is used in the manufacturing of automotive interior materials is also fostering the market growth. Growing production of automobiles will further favor the market growth. According to the European Automobile Manufacturers Association, 92.8 million motor vehicles were produced globally in 2019.

The Asia Pacific is projected to exhibit significant growth over the forecast period and this is attributed to the rapidly expanding textile industry in the region. According to the India Brand Equity Foundation, the domestic textiles and apparel market stood at an estimated US$ 100 billion in FY19. During FY19, production of fiber in India stood at 1.44 million tons (MT) and reached 1.60 MT in FY20 (till January 2020), while that for yarn, the production stood at 4,762 million kgs during the same period.

Key Developments:

1. In May 2017, Toray Industries, the global fiber and textile manufacturer have launched a new product line of recycled fibers and fabrics called Recyclon™.

2. In January 2019, PrimaLoft, a provider of advanced material technology, has announced its partnership with five iconic outdoor brands to introduce PrimaLoft Bio, the first 100% recycled, biodegradable synthetic apparel insulation and performance fabric.

3. In January 2017, Triad Company partners with a manufacturer to expand fiber production in Vietnam

4. In October 2020, SailGP has announced a partnership with high-performance rope manufacturer Marlow Ropes.

5. In September 2018, AMSilk partners with Airbus on the development of synthetic spider silk based composite fibers. It is the first composite material made of the bionic high-performance fiber, Called Biosteel.