LONDON--(BUSINESS WIRE)--The market for synthetic, man-made textiles and materials is experiencing healthy growth due to changing consumer demands and productivity needs. Synthetic textile materials are typically more durable and adaptable than textiles made from things found in nature. Details on how the boom in the market for man-made materials will play out are some of this week’s featured stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high quality leads, contact prospects, and source quotes. Register today to connect with over seven million companies around the globe.
Growing global demand for synthetic fibres
Over the last few decades, there has been significant growth in the global fibre market in the demand for synthetic fibres in apparel, home furnishings, and industrial applications. The total global annual consumption of synthetic fibres surpassed 55 million tonnes in 2014, accounting for a share of over 62% in the world fibre market.
China is currently the largest manufacturer of synthetic fibres, accounting for more than half of all global synthetic fibre production. Global consumers’ fast-growing preference for durability, better stain resistance, softness, and elasticity in fibres will encourage the substantial growth of this market for the foreseeable future.
Man-made cellulosic fibre market has fully recovered
Though it experienced a consecutive decline in market share and volume throughout the 1990s, the market for man-made cellulosic fibre is back and better than ever with consumption doubling in the last decade. The new growth of this market, which reached 5.2 million tonnes in 2015, is largely due to increasing usage of viscose rayon staple fibre as both spinning fibre for apparel and in nonwoven end uses.
The cellulosic fibre market has become highly capital intensive and technology-driven, with market players constantly engaging in initiatives towards innovation. China, India, Japan, South Korea, Pakistan, Taiwan, and Indonesia are some of the biggest markets in the world for synthetic cellulosic fibre.
Global polyester market remains steady on the path for success
The global polyester market was valued at USD 73.5 billion in 2014 and is expected to surpass USD 115 billion by 2020. Polyester is one of the most commonly used materials in the global textile and apparel industry with almost 50 million tonnes produced last year.
Though the growth rate for the global polyester market has slowed to 4.8%, overall growth and production rates remain strong, stable, and promising for the future. China, the leader of the global polyester market, accounts for more than 65% of global polyester consumption, and demand for polyester is still growing.
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