The US market for synthetic fibers is projected to grow at a CAGR of 6.3% during the forecast period. The market is driven by the significant adoption of synthetic fibers in the automotive and home furnishing sector. The modest growth in the building & construction industry in the region also creates considerable scope for market growth. The US has one of the wealthiest and diversified economies around the globe. The country supports the development of innovative solutions and the adoption of advanced technologies owing to high disposable income and cohesive government policies.  Increased spending in the building & construction industry is among the key factors that fuel the construction industry in the US, which in turn, expedites the demand for synthetic fiber market during the forecast period. The US is home to several globally recognized comprising Ford, Hyundai, Nissan, Toyota, General Motors, and others which are expected to create a considerable demand for synthetic fibers. 

The market for synthetic fibers market is classified on the basis of type and application. Based on type, the 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 US synthetic fibers market for application is further segregated into automotive, textiles, 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.  

The companies which are contributing to the growth of the US 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 US 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. US Synthetic fibers Market Research and Analysis by Type
2. US Synthetic fibers Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the US 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 US synthetic fibers market.
• Insights about market determinants that are stimulating the US synthetic fibers market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.