The Asia-Pacific market for synthetic fibers is projected to grow at a CAGR of 7.4% during the forecast period. The market is mainly driven by various pivotal factors including significant investment in the automotive industry and an emerging focus on lightweight and fuel-efficient vehicles in the region. The expansion of auto parts manufacturing has led to the adoption of synthetic fibers in the automotive sector, owing to their lightweight property, mechanical strength, great design versatility, and lower system costs. The rising disposable income and growing urbanization are also boosting the growth of the organized retail which led to the demand for home furnishing. 

The market for synthetic fibers market is classified on the basis of type and application. Based, the Asia-Pacific synthetic rubber market is further segmented into acrylics, polyolefin, polyester, nylon, and others (Acetate). The polyester segment is projected to have considerable growth during the forecast period. The application market is further segregated into automotive, clothing, home furnishing, filtration, and others. The automotive application segment is estimated to have considerable growth in the market owing to the growing demand for lightweight vehicles to reduce fuel consumption.  Geographically, the Asia-Pacific synthetic fibers market is further classified into China, India, Japan, and the Rest of Asia-Pacific.

The companies which are contributing to the growth of the Asia-Pacific synthetic fibers market include Asahi Kasei Corp., BASF SE, DuPont de Nemours, Inc., Mitsubishi Chemical Corp., Toray Industries, Inc., China Petrochemical Corp. (Sinopec), Eastman Chemical Co., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market. 

Research Methodology

The market study of the Asia-Pacific synthetic fibers market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for synthetic fibers manufacturers, raw material suppliers, third-party distributors, traders, importers, exporters, end-user industry, government organizations, regulatory bodies, and other market participants for overall market analysis, and competitive analysis. The report provides an in-depth analysis of market size, market determinants, and products offered by the companies. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. Asia-Pacific Synthetic fibers Market Research and Analysis by Type
2. Asia-Pacific Synthetic fibers Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Asia-Pacific synthetic fibers market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific synthetic fibers market.
• Insights about market determinants that are stimulating the Asia-Pacific synthetic fibers market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.