China Synthetic Fiber Market: Analysis of Chinese Industry and New Market Opportunities Explored by 2027
The increase in the use of synthetic fibers in the building and construction industry and the increase in the number of key automotive players are fueling the growth of the Chinese market.
OREGON, PORTLAND, USA, Aug 17, 2021 /EINPresswire.com/ – The Chinese synthetic fiber market was valued at $ 17.0 billion in 2019 and is expected to reach $ 26.5 billion by 2027, recording A CAGR of 6.0% from 2020 to 2027 report provides in-depth analysis of top investment pockets, top winning strategies, drivers and opportunities, market size and estimates, competitive landscape and trends changing market.
The increase in the use of man-made fibers in building and construction industry and the increase in the number of key automotive players are fueling the growth of the Chinese man-made fiber market. On the other hand, environmental pollution associated with synthetic fibers hinders growth to some extent. However, the growth of the clothing industry is expected to pave the way for lucrative opportunities in the future.
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â¢ The covid-19 epidemic has given way to a huge gap between supply and demand and declining sales of passenger vehicles, resulting in a decrease in demand for synthetic fibers widely used in the automotive industry. automotive sector in a number of applications such as automotive mats, seat textiles, seat belts and airbags.
â¢ In addition, the considerable drop in the production of passenger vehicles has negatively affected the Chinese synthetic fibers market.
The Chinese synthetic fiber market is analyzed by fiber type and by application. By fiber type, the polymer nonwovens segment accounted for more than two-fifths of the total market share in 2019 and is expected to dominate by the end of 2027. The mineral wool segment, meanwhile, is expected to grow. at the fastest CAGR of 8.0% from 2020 to 2027.
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By application, the building and construction segment contributed more than two-fifths of total market revenue in 2019 and is expected to maintain its dominance through 2027. The same segment would also cite the fastest CAGR of 7.2% during the forecast period.
Leading market players analyzed in the China Synthetic Fibers Market report include China Jushi Co. Ltd., Foshan Rayson Non-Woven Co. Ltd., Hebei Yuniu Fiberglass Manufacturing Co. Ltd., Owens Corning, Rockwool China, Shuhai Huali Advanced Material Co. Ltd., Jia He Taizhou Glass Fiber Co. Ltd., Changzhou Tianma Group Co. Ltd., Luyang Energy-Saving Materials Co, Ltd. and Toray Fibers (Nantong) Co. Ltd. These market players have integrated different strategies including partnership, expansion, collaboration, joint ventures and others to consolidate their position in the industry.
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