Asia-Pacific Synthetic Fibers Market: Report Based on Development, Scope, Share, Trends, Forecast to 2027

Posted September 22, 2021 by saifiyan1212

The Asia-Pacific market for synthetic fibers is projected to grow at a CAGR of 7.4% during the forecast period.

The Asia-Pacific market for synthetic fibers is projected to grow at a CAGR of 7.4% during the forecast period. The market is mainly driven by various pivotal factors including significant investment in the automotive industry and an emerging focus on lightweight and fuel-efficient vehicles in the region. The expansion of auto parts manufacturing has led to the adoption of synthetic fibers in the automotive sector, owing to their lightweight property, mechanical strength, great design versatility, and lower system costs. The rising disposable income and growing urbanization are also boosting the growth of the organized retail which led to the demand for home furnishing.

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The market for synthetic fibers market is classified on the basis of type and application. Based, the Asia-Pacific synthetic rubber market is further segmented into acrylics, polyolefin, polyester, nylon, and others (Acetate). The polyester segment is projected to have considerable growth during the forecast period. The application market is further segregated into automotive, clothing, home furnishing, filtration, and others. The automotive application segment is estimated to have considerable growth in the market owing to the growing demand for lightweight vehicles to reduce fuel consumption. Geographically, the Asia-Pacific synthetic fibers market is further classified into China, India, Japan, and the Rest of Asia-Pacific.

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The companies which are contributing to the growth of the Asia-Pacific synthetic fibers market include Asahi Kasei Corp., BASF SE, DuPont de Nemours, Inc., Mitsubishi Chemical Corp., Toray Industries, Inc., China Petrochemical Corp. (Sinopec), Eastman Chemical Co., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.

Asia-Pacific Synthetic Fibers Market Segmentation
Asia-Pacific Synthetic Fibers Market by Type
• Acrylics
• Polyolefin
• Polyester
• Nylon
• Others (Acetate)

Asia-Pacific Synthetic Fibers Market by Application
• Automotive
• Clothing
• Home Furnishing
• Filtration
• Others (Medical)

Asia-Pacific Synthetic Fibers Market – Segment by Region
• China
• Japan
• India
• Rest of Asia-Pacific

Company Profiles
• Asahi Kasei Corp.
• Bombay Dyeing & Manufacturing Co Ltd.
• China Petrochemical Corp. (Sinopec)
• DuPont de Nemours, Inc.
• Eastman Chemical Co.
• Mitsubishi Chemical Corp.
• Reliance Industries Ltd.
• SGL Carbon
• Teijin Group
• Toray Industries, Inc.
• Toyobo Co., Ltd.

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Issued By saifiyan
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Categories Business , Computers , Electronics
Tags Asia-Pacific Synthetic Fibers Market
Last Updated September 22, 2021