Fiber Intermediates Market Overview:
Manufacturing of synthetic fibers is creating a demand for fiber intermediates. Manufacturing of components such as polyester & nylon, disinfectants, fabrics, plastic, and others are assisting in the expansion of the market. Its use is not limited to just one particular sector. End-user industries such as textiles, plastics, petrochemicals, and cleaning products (detergents) provide a significant opportunity for the market to inflate and fetch more revenue. The global fiber intermediates market can expect a rise by robust CAGR during the forecast period (2018-2023), reveals Market Research Future (MRFR). Their report on the same market includes segmental analysis in detail, expert inputs, competitive landscape, and drivers that can impact the market in the coming years.
Among the major factors, the constantly evolving textile industry is providing much traction. The trends in the sector are quite rapid. From clothing, furniture, and upholstery, this change is creating demand for polyester. At the same time, the furniture industry is also burgeoning and claiming significant attention from the fiber intermediates market. Multipurpose and luxurious furniture are creating space for new entrants to chip in with their innovative methods and take the fiber intermediates market forward. The production of polyethylene terephthalate (PET) resin and PET film is also providing much traction to the market. Fiber intermediates such as ethylene glycol provides an effective barrier against carbon dioxide and have a high tensile strength which is getting accolades from the packaging industry. Other industries finding a significant use for fiber intermediates are anti-freeze, detergents, paints, and resins.
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Fiber Intermediates Market Segmentation
The global fiber intermediates market has been segmented by type and application.
Type-wise, the fiber intermediates market can be segmented into paraxylene, acrylonitrile, cyclohexanone, ethylene glycol, polyethylene, ethylene oxide, and others.
Application-wise, the fiber intermediates market includes fabrics, PET resin, anti-freeze, detergents, upholstery, bactericides, and others.
Fiber Intermediates Market Regional Analysis:
Region-specific segmentation of the global fiber intermediates market can be segmented into North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
The APAC market, as of 2017, is the largest market with the maximum market revenue. The regional market would continue its dominance over the review period. Textile industries in emerging nations such as China and India are providing the needed traction to the market. Major companies such as Fabindia Overseas Pvt Ltd., Bombay Dyeing, Shangtex Holding Co. Ltd, and Shandong Demian Group are based out of the region and can boost the regional market growth. As per the Indian Brand Equity Foundation, the Indian textiles market can cross a valuation of USD 226 billion by 2023 which can squarely impact the market.
North America’s growth depends mostly on the supportive government policies that provide thrust to the market. As per the National Council of Textile Organizations, the worth of US man-made fiber and filament, textiles, and apparel shipments rose by 11% from 2009 to 2016 and touched a valuation of USD 74.4 billion.
Europe’s market growth would show a rise with healthy CAGR as the packaging industry is witnessing significant growth. The rise is to match the growing demand for food and beverages. In addition, government regulations to curb landfill menace have stimulated the demand for PET-based packaged products which can surely provide a boost to the fiber intermediates market.
Prominent players in the global fiber intermediates market are Aareydrugs & Pharmaceuticals Ltd (India), Daicel Corporation (Japan), Reliance Industries Limited (India), Ferromet SA (Argentina), Chevron Phillips Chemical Company (US), DowDuPont (US), INVISTA (US), BASF SE (Germany), and Fiber Intermediate Products Company (Iran).
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