The European synthetic fibers market is projected to grow at a CAGR of 6.7% during the forecast period (2020-2026). The significant growth in the textile industry contributes to the growth of the synthetic fiber market. Textile consumption and production are highly globalized, which involves millions of producers and billions of consumers globally. In Europe, the textile industry employs 1.7 million people and Europeans consume on average 26 kg of textiles per person per year, according to the European Commission in November 2019.
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In Europe, there are around 171,000 companies in the textile industry. In 2017, the EU produced 7.4 kg of textiles per person while consuming nearly 26 kg. Exports from the EU mainly comprise intermediate textile products, such as technical fibers and high-quality fabrics.
Synthetic fibers are increasingly being used in the textile industry. synthetic fibers including polyester, polyamide, acrylic, and polyolefin dominate the textile industry. Polyester is the most widely used synthetic fiber and is popular for all types of clothing and reinforcement of items such as tires, belts, and hoses. Carpets are commonly made of polyamide, which can be blended with elastomeric fibers for the production of sportswear.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type and by Application
- Regions Covered- UK, Germany, France, Italy, Spain, and the Rest of Europe
- Key Companies Profiled- Asahi Kasei Corp., BASF SE, DuPont de Nemours, Inc., Mitsubishi Chemical Corp., Toray Industries, Inc., China Petrochemical Corp. (Sinopec), Eastman Chemical Co., and others
Key Questions Addressed by the Report
- What is the market growth rate during the forecast period?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and the coming years?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast.
- Most affected segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Synthetic Fibers Market – Segmentation
By Type
- Acrylics
- Polyolefin
- Polyester
- Nylon
- Others
By Application
- Automotive
- Clothing
- Home Furnishing
- Filtration
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
