China Synthetic Fiber Market Overview
According to SPER Market Research, the China Synthetic Fiber Market is estimated to reach USD 39.8 billion by 2033 with a CAGR 6.27%.
Synthetic fibers are man-made fibers created by extruding fiber-forming ingredients during a polymerization process. Because of its qualities like as durability, elasticity, softness, and ease of dyeing, it is frequently used in industries such as home décor, fashion, automobile, and building and construction. Furthermore, their high strength, resistance to wrinkling, and ability to dry quickly make them a popular material for furniture upholstery. Mineral wool is an inorganic and non-metallic compound that is created by heating mixes of elements such as stone or silica until they become molten. Fiberglass is a lightweight, robust, and less brittle synthetic fiber that is also known as glass reinforced plastic or glass fiber reinforced. Mineral wool and fiberglass are the most common insulating materials used in most applications, including building and construction, for wall, ceiling, roof, and floor insulation.
Exploring the Growth Drivers of the China Synthetic Fiber Industry
Over the last few decades, China's synthetic fiber industry has expanded rapidly. Several key factors have contributed to this expansion, including strong domestic demand. China has the world's largest population, and its rapidly expanding middle class has been a significant driver of demand for synthetic fibers. Demand for synthetic fibers used in clothes and textiles has surged as e-commerce platforms have grown in popularity. Also, the Chinese government has developed policies to encourage the expansion of the synthetic fiber industry, including as tax breaks and research and development subsidies. Because of its low labor costs, China has become a competitive manufacturer of synthetic fibers. As a result, Chinese producers can offer lower pricing than competitors in other nations.
What challenges does the China Synthetic Fiber Market face?
Overcapacity is one of numerous difficulties confronting the China Synthetic Fiber Market. Because of China's huge overcapacity in synthetic fiber production, producers face increasing competition, lower prices, and lower profitability. The synthetic fiber business is notorious for having a severe influence on the environment, including pollution and greenhouse gas emissions. The Chinese government has been taking steps to regulate and decrease pollution, which has increased manufacturing costs. Raw material prices, such as oil and chemicals, can fluctuate dramatically, affecting the profitability of synthetic fiber makers. Also, manufacturers have to keep up with the latest technological breakthroughs to remain competitive as technology evolves. It might be necessary to make sizable research and development investments as a result. Overall, the China Synthetic Fiber Market faces various problems that will necessitate careful management and strategic planning in order to maintain long-term growth and profitability.
In what ways has the COVID-19 pandemic affected China Synthetic Fiber Market?
In a variety of ways, the COVID-19 epidemic has had a profound impact on the China Synthetic Fiber Market. The epidemic disrupted the worldwide supply chain, reducing the availability of raw resources needed to manufacture synthetic fibers. Many factories were temporarily shut down, resulting in a scarcity of raw materials, which hampered the production of synthetic fibers. With the pandemic causing factory closures, demand for synthetic fibers fell as many textile and garment manufacturers ceased production. The decline in demand for synthetic fibers impacted the total market even more. Consumer tastes have shifted as a result of the epidemic, with many consumers preferring comfortable and breathable textiles such as cotton over synthetic fibers. This shift in preference has also had an impact on the demand for synthetic fibers.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Fiber Type, By Application
|
| Regions covered | Central China, East China, North China, Northeast China, Northwest China, Southwest China
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| Companies Covered | Changzhou Tianma Group Co. Ltd., China Jushi Co. Ltd., Foshan Rayson Non-Woven Co. Ltd., Hebei Yuniu Fiberglass Manufacturing Co., Ltd., Jia He Taizhou Fiber Co. Ltd., Luyang Energy Saving Materials Co. Ltd., Owens Corning, Rockwool China, Shuhai Huali Advanced Material Co. Ltd., Toray Fibers Co. Ltd.
|
Key Target Audience:
- Academics and Researchers
- Investors and Financial Analysts
- Manufacturers and Suppliers
- Policy-makers and Government Officials
- Traders and Distributors
China Synthetic Fiber Market Segmentation:
1. By Fiber Type:
- China Synthetic Fiber Market Value Share and Forecast, By Fiber Type, 2023-2033
- Fiberglass
- Mineral Wool
- Polymer non-woven
- Others
2. By Application:
- China Synthetic Fiber Market Value Share and Forecast, By Application, 2023-2033
- Apparel
- Appliances
- Automotive
- Building & Construction
- Home Décor
3. By Region:
- Central China
- East China
- North China
- Northeast China
- Northwest China
- Southwest China
Key Topics Covered in the Report:
- China Synthetic Fiber Market Size (FY’2023-FY’2033)
- Overview of China Synthetic Fiber Market
- Segmentation of China Synthetic Fiber Market By Fiber Type (Fiberglass, Mineral Wool, Polymer non-woven, Others)
- Segmentation of China Synthetic Fiber Market By Application (Apparel, Appliances, Automotive, Building & Construction, Home Decor, Others)
- Statistical Snap of China Synthetic Fiber Market
- Growth Analysis of China Synthetic Fiber Market
- Problems and Challenges in China Synthetic Fiber Market
- Competitive Landscape in the China Synthetic Fiber Market
- Impact of COVID-19 and Demonetization on China Synthetic Fiber Market
- Details on Recent Investment in China Synthetic Fiber Market
- Competitive Analysis of China Synthetic Fiber Market
- Key Players in the China Synthetic Fiber Market
- SWOT Analysis of China Synthetic Fiber Market
- China Synthetic Fiber Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the China Synthetic Fiber Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. China Synthetic Fiber Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in China Synthetic Fiber Market
7. China Synthetic Fiber Market, By Fiber Type (USD Million)
7.1. China Synthetic Fiber Market Value Share and Forecast, By Fiber Type, 2023-2033
7.2. Fiberglass
7.3. Mineral Wool
7.4. Polymer non-woven
7.5. Others
8. China Synthetic Fiber Market, By Application (USD Million)
8.1. China Synthetic Fiber Market Value Share and Forecast, By Application, 2023-2033
8.2. Apparel
8.3. Appliances
8.3.1. Dishwashers
8.3.2. Dryers
8.3.3. Large Cooking Appliances
8.3.4. Water Heater
8.3.5. Others
8.4. Automotive
8.5. Building & Construction
8.6. Home Décor
8.7. Others
9. China Synthetic Fiber Market Forecast, 2019-2033 (USD Million)
9.1. China Synthetic Fiber Market Size and Market Share
10. China Synthetic Fiber Market, By Fiber Type, 2019-2033 (USD Million)
10.1. China Synthetic Fiber Market Size and Market Share by Fiber Type (2019-2026)
10.2. China Synthetic Fiber Market Size and Market Share by Fiber Type (2027-2033)
11. China Synthetic Fiber Market, By Application, 2019-2033 (USD Million)
11.1. China Synthetic Fiber Market Size and Market Share by Application (2019-2026)
11.2. China Synthetic Fiber Market Size and Market Share by Application (2027-2033)
12. China Synthetic Fiber Market, By Region, 2019-2033 (USD Million)
12.1. China Synthetic Fiber Market Size and Market Share by Region (2019-2026)
12.2. China Synthetic Fiber Market Size and Market Share by Region (2027-2033)
12.3. Central China
12.4. East China
12.5. North China
12.6. Northeast China
12.7. Northwest China
12.8. Southwest China
13. Company Profile
13.1. Changzhou Tianma Group Co. Ltd.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. China Jushi Co. Ltd.
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Foshan Rayson Non-Woven Co. Ltd.
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Hebei Yuniu Fiberglass Manufacturing Co., Ltd.
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Jia He Taizhou Fiber Co. Ltd.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Luyang Energy Saving Materials Co. Ltd.
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Owens Corning
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Rockwool China
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Shuhai Huali Advanced Material Co. Ltd.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Toray Fibers Co. Ltd.
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
