Synthetic Fibers Market – Industry Insights, Trends and Growth Opportunity Analysis to 2030
The global synthetic fibers market was valued at USD 66.11 billion in 2022 and is projected to attain a value of USD 117.76 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. One of the primary factors contributing to this growth is the rising consumer demand for fabrics that are not only cost-effective but also durable, easy to maintain, and simple to wash. These fabrics, which are produced through chemical synthesis, exhibit a wide range of beneficial properties such as high tensile strength, softness, elasticity, resistance to creasing, and a glossy appearance. Due to these advantageous mechanical, chemical, and physical characteristics, synthetic fibers are increasingly being adopted across various end-use industries including apparel and clothing, home furnishing, automotive interiors, industrial filtration, and several other segments that demand durable and high-performance materials. In North America, ...