Fiber Intermediates Market to Grow with Robust CAGR During the Forecast Period (2017-2030): MRFR
Description :
Fiber
Intermediates Market: Information by Type (Paraxylene, Acrylonitrile,
Cyclohexanone, Ethylene Glycol, Ethylene Glycol, Polyethylene, and Others),
Application (Fabrics, PET Resin, Anti-freeze, and Others), and Region—Forecast
till 2030
Keywords :
Fiber Intermediates Market,
Global Fiber
Intermediates Market, Fiber Intermediates Industry,
Fiber
Intermediates Business, Fiber
Intermediates Market Share, Fiber Intermediates Market Size, Fiber
Intermediates Market Trends, Fiber Intermediates Market Growth, Fiber
Intermediates Market Price, Fiber Intermediates Market Analysis, Fiber
Intermediates Market Outlook, Fiber Intermediates Market Forecast
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.
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.
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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.
Key Players
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).
In 2018, BASF SE developed MasterFiber that is
proving effective in the construction sector. This fiber can work well
when put together with concrete and can reduce cost significantly.
In 2018, Reliance Petrochemicals enjoyed strong
growth of almost USD 987 million backed by polypropylene, downstream polyester
products, and fiber intermediate
products.
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