The global synthetic fabric market size is expected to increase USD 1.43 billion by 2033 from USD 1.03 billion in 2023 with a CAGR of 3.35% between 2024 and 2033.
Key Points
- Asia Pacific dominated the synthetic fabric market with the largest market share in 2023.
- North America is expected to witness a significant growth rate in the market during the forecast period.
- By type, the acrylic fabric segment held a significant share of the market in 2023.
- By application, the apparel application segment held the largest share of the market in 2023.
The synthetic fabric market has witnessed significant growth over the past few decades, driven by advancements in textile technology and the increasing demand for durable and versatile materials in various industries. Synthetic fabrics are manufactured using chemical processes from synthetic fibers such as polyester, nylon, acrylic, and spandex. These fabrics offer unique properties such as strength, moisture-wicking capabilities, and resistance to wrinkles and shrinkage, making them popular choices for clothing, home furnishings, automotive interiors, and industrial applications.
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Growth Factors
Several factors contribute to the growth of the synthetic fabric market. One key driver is the rising demand for affordable and functional textiles in developing economies. Synthetic fabrics often offer a cost-effective alternative to natural fibers like cotton or wool. Additionally, technological innovations in fabric production have enabled manufacturers to create synthetic textiles with enhanced performance characteristics, appealing to diverse consumer needs. Moreover, the growing awareness of sustainability and the development of eco-friendly synthetic fibers have expanded the market’s appeal to environmentally conscious consumers.
Region Insights
The synthetic fabric market shows varying trends across different regions. Developed economies such as North America and Europe continue to dominate in terms of consumption, driven by the strong presence of textile industries and consumer demand for performance-oriented fabrics. In contrast, Asia Pacific is emerging as a key growth region, propelled by rapid industrialization, urbanization, and increasing disposable incomes. Countries like China, India, and Vietnam are becoming major manufacturing hubs for synthetic fabrics due to lower production costs and abundant raw material availability.
Synthetic Fabric Market Scope
| Report Coverage | Details |
| Synthetic Fabric Market Size in 2023 | USD 1.03 Billion |
| Synthetic Fabric Market Size in 2024 | USD 1.06 Billion |
| Synthetic Fabric Market Size by 2033 | USD 1.43 Billion |
| Growth Rate from 2024 to 2033 | CAGR of 3.35% |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Type and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Synthetic Fabric Market Dynamics
Drivers
Several drivers underpin the expansion of the synthetic fabric market. One significant driver is the versatility of synthetic fabrics, which can be engineered to exhibit specific properties like stretchability, UV resistance, or flame retardancy, catering to diverse application needs. Additionally, the growing adoption of synthetic fabrics in sportswear, outdoor gear, and technical textiles owing to their performance attributes drives market growth. Moreover, the shift towards synthetic fibers in home textiles and furnishings due to their durability and easy maintenance further fuels market expansion.
Opportunities
The synthetic fabric market presents several opportunities for manufacturers and stakeholders. The increasing demand for activewear and athleisure clothing offers a promising growth avenue, with synthetic fabrics being the material of choice for sportswear due to their moisture-wicking and breathable properties. Furthermore, the expanding automotive sector presents opportunities for synthetic fabrics in vehicle interiors, as they offer superior durability and design flexibility compared to natural materials. Moreover, the ongoing research and development of bio-based synthetic fibers hold potential for sustainable growth in the market.
Challenges
Despite its growth prospects, the synthetic fabric market faces certain challenges. One key challenge is the environmental impact associated with conventional synthetic fibers, particularly in terms of microplastic pollution and carbon emissions during production. Addressing these sustainability concerns requires investments in eco-friendly manufacturing processes and the development of recyclable or biodegradable synthetic fibers. Additionally, competition from natural fibers and fluctuations in raw material prices pose challenges to market players, necessitating strategic pricing and supply chain management to remain competitive.
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Synthetic Fabric Market Recent Developments
- In April 2024, Kawhi Leonard‘s fourth signature footwear released its New Balance Signature Footwear. The new style of sneaker incorporates an Energy Arc carbon fiber plate with FuelCell foam midsole cushioning sitting and strategic gaps beneath an engineered mesh top with synthetic overlays.
- In April 2024, Sika launched a state-of-the-art facility in Lima, Peru, for the manufacturing of synthetic fibers and increasing the product range with the enormous response in Latin America.
- In April 2024, JOGANI Reinforcement introduced JOGANI Super Mesh—a high–quality fiberglass mesh with a hole size of 10 mm by 10 mm for better mortar penetration, workability, and ease of fixing. It was launched for the first time in India and aims to increase durability and control cranks in construction.
- In May 2024, Hyosung, a leading player and the globally renowned manufacturer of spandex and the major supplier of other performance synthetic fibers, integrates the new facilities to increase the supply chain flexibility of the bio-based spandex.
Synthetic Fabric Market Companies
- Bombay Dyeing
- E. I. du Pont de Nemours and Company
- Indorama Corporation
- Lenzing AG
- Mitsubishi Chemical Holdings Corporation
- Reliance Industries Limited
- China Petroleum Corporation (Sinopec Corp.)
- Teijin Limited
- Toray Chemical Korea, Inc.
- Toyobo Co., Ltd.
Segments Covered in the Report
By Type
- Acetate Fabric
- Acrylic Fabric
- Chiffon Fabric
- Denim Fabric
By Application
- Construction
- Automotive
- Healthcare
- Apparel
- Household
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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