Expert Market Research Explores the Top 5 Companies in the Global Synthetic Fibres Market

The global synthetic fibres market reached a volume of 73.5 million tons in 2020. The market is further expected to grow at a CAGR of 5.2% in the forecast period of 2022-2027.

Synthetic fibres are secured from polymers and are also called artificial fibres. They exhibit essential features such as strength, elasticity, lightweight, washability, softness, cost efficiency, and specific features, such as wrinkle resistance, crease recovery, moisture resistance, and high lustre. Due to these factors, the fibres are approved in many implementations, for instance, clothing, home furnishing, automotive, filtration, construction, toys, different types of ropes and net manufacturing as it conveys essential features, including heat and moisture resistance. Due to technological support in the production techniques and superior physical, chemical and mechanical properties, synthetic fibres are not only well approved for their use in the general textile but also play an essential role in vital end-user industries like healthcare, aerospace, food packaging, water purification, electronics, automotive, and air filters, among others.

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Endurance, cost efficiency, and low maintenance are the factors expected to positively influence the growth of the synthetic fibres market over the forecast period. Increasing industrialization, changing customer designs for textiles, and growing disposable income are some of the factors proposed to drive the growth of the synthetic fibres market. The increasing expenditure capability of customers against collecting attractive clothes is also anticipated to escalate the need for various types of synthetic fibres. All these factors are estimated to heighten the demand of the synthetic fibres market over the forecast period.

The increasing customer interest in home furnishings is promoting the growth in the business sector. The production need of these fibres to manufacture bed linen, wall coverings, blankets, upholstery, carpets, soft home furnishings, and similar other products are propelling the market growth. The rise in the real estate segment is adding to the increase of home furnishings, along with the advanced existence of retail stores promoting home furnishings is another critical reason accelerating the growth of the synthetic fibres market over the forecast period.

Top 5 Global Synthetic Fibres Companies:

Schott Textiles, Inc.

Establishment:1932 
Headquarters: Akron, Ohio
Website: https://schotttextiles.com/

Schott Textiles is a leading supplier to manufacturers and retailers in both the United States and global marketplace. Their extensive worldwide supply base allows Schott Textiles to design and source fabrics and related products to meet the demanding needs of a diverse customer base, many of whom are leaders in their industry. Schott Textiles distributes a wide variety of greige and converted fabric on a wholesale level, primarily cotton and synthetic fibre. Companies have come to rely on Schott Textiles for quality products, competitive pricing and highly reliable customer service.

Mitsubishi Chemical Corporation

Establishment: 1933
Headquarters: Tokyo, Japan
Website: https://www.m-chemical.co.jp/en/index.html

As a core operating company of the Mitsubishi Chemical Holdings Corporation (MCHC) Group, Mitsubishi Chemical seeks to provide solutions to issues faced by the society and the environment and achieve KAITEKI. This condition contributes to sustainable development that is optimal for people, society, and the earth.

Reliance Industries Limited

Establishment: 1973
Headquarters: Mumbai, India
Website: http://www.ril.com/

Reliance Industries Limited (RIL) is an Indian multinational conglomerate headquartered in Mumbai. RIL's diverse businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is one of the most profitable companies in India, the largest publicly traded company in India by market capitalization, and the largest company in India as measured by revenue after recently surpassing the government-controlled Indian Oil Corporation.

Lenzing AG

Establishment: 1938
Headquarters: Lenzing, Austria
Website: https://www.lenzing.com/

The Lenzing Group is an international group with its headquarters in Lenzing, Austria, and production sites in all major markets. Lenzing produces wood-based viscose fibres, modal fibers, lyocell fibres and filament yarn, which are used in the textile industry - in clothing, home textiles and technical textiles - as well as in the nonwovens industry. In addition, the company is active in mechanical and plant engineering.

Toray Industries, Inc.

Establishment: 1926
Headquarters: Tokyo, Japan
Website: https://www.toray.com/global/

Toray Industries, Inc. is a multinational corporation headquartered in Japan, specializing in industrial products centered on organic synthetic chemistry, polymer chemistry, and biochemistry. Its founding business areas were fibres and textiles, as well as plastics and chemicals. The company has also diversified into pharmaceuticals, biotechnology, and R&D, medical products, reverse osmosis, big membranes, electronics, IT products, housing and engineering, and advanced composite materials.