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2021
China Synthetic Fiber Market

China Synthetic Fiber Market

by Fiber Type (Fiberglass, Mineral Wool, Polymer Non-woven, and Other) and Application (Apparel, Home Décor, Building & Construction, Automotive, Appliances, and Other): Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A11008
Pages: 116
Apr 2021 | 4689 Views
Author(s) : Chidanand B, Nikhil M , Eswara P
Tables: 41
Charts: 33
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COVID-19

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China Synthetic Fiber Market Outlook - 2020–2027

The China synthetic fiber market size was valued at $17.0 billion in 2019, and is projected to reach $26.5 billion by 2027, growing at a CAGR of 6.0% from 2020 to 2027.

China synthetic fiber market witnessed a negative effect during the COVID-19 pandemic, owing to the downfall in production of passenger cars and other vehicles.

Synthetic fibers are man-made fibers that are manufactured by extruding fiber-forming materials through process known as polymerization. Its properties such as durability, elasticity, softness, and can be dyed easily make them widely adopted in applications such as home décor, apparel, automotive, and building & construction. In addition, high strength, resistance to wrinkling, and ability to dry faster make them widely adopted material in furniture upholstery application. Fiberglass, polymer non-woven, including spunbond, and spunlace are different types of synthetic fiber that are widely adopted in the market. Mineral wool is an inorganic and non-metallic compound that is manufactured using mixtures of materials such as stone or silica at elevated temperature range until it turns into molten form. Fiberglass also known as glass reinforced plastic or glass fiber reinforced is a lightweight, strong, and less brittles synthetic fiber. Mineral wool and fiberglass are the major insulating material used in most of the applications, including building and construction for the insulation of wall, ceiling, roof, and floor.

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China synthetic fiber market growth factor is attributed to rise in use of synthetic fiber in applications such as clothing, pillows, and high-performance outdoor apparel. In addition, polymer nonwoven fibers can be used in sportswear and production of cold weather garments, which is expected to propel the growth of the market. Synthetic fibers are added in concrete to reduce plastic shrinkage cracking of reinforced and structural plain concrete. It can also be blended together with concrete that helps reduce shrinkage and temperature cracking in structural plain concrete slabs. The construction sector in China is predicted to grow with annual growth rate of 4.7% in 2021-2024. These are the major factors that are augmenting the growth of the China synthetic fiber market. However, environmental pollution attributed due to synthetic fiber is expected to hamper the market growth. Synthetic fibers are generally made up of chemical composition, which in turn poses threat to environmental pollution. Some synthetic fibers are made up of petroleum products and pose major threat to workers during the manufacturing process.

Growing apparel sector is predicted to offer new opportunity in the China synthetic fiber market. Synthetic fibers are widely used fiber material in the textile industry. Synthetic fiber is widely used during manufacturing of all types of clothing and it is also used in pillows and high-performance outdoor apparel. Petrochemical-based synthetic fibers dominate the global fiber production, while 65% of all fiber is produced in China that is majorly used by the textile sector. The textile sector in China is the largest in the world in both production and export and this sector contributes around 7% in country’s GDP.

The China synthetic fiber market analysis is done based on fiber type and application. Depending on fiber type, the market is segmented into fiberglass, mineral wool, polymer non-woven, and others. By application, it is fragmented into apparel, home décor, building & construction, automotive, appliances, and others. The appliance application is further sub-segmented into water heater, large cooking appliances, dishwashers, dryers, and others. The major companies profiled in this report include Changzhou Tianma Group Co. Ltd., China Jushi Co. Ltd., Foshan Rayson Non-Woven Co. Ltd., Hebei Yuniu Fiberglass Manufacturing Co. Ltd., Jia He Taizhou Glass Fiber Co. Ltd., Luyang Energy-Saving Materials Co, Ltd., Owens Corning, Rockwool China, Toray Fibers (Nantong) Co. Ltd., and Shuhai Huali Advanced Material Co. Ltd.

China Synthetic Fiber Market
By Fiber Type

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Mineral wool type is projected as the most lucrative segment.

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In 2019, the polymer non-woven was the largest revenue contributor, and is anticipated to grow at CAGR 4.2% during the forecast period, where as the mineral wool segment is estimated to register highest CAGR growth of 10.8%, accounting for 36% of the China synthetic fiber market.

China Synthetic Fiber Market
By Application

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Building & Construction application is projected as the most lucrative segment

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In 2019, the building and construction application garnered the highest revenue, and is anticipated to grow at a CAGR of 7.2% during the forecast period. On the other hand, the automotive application is anticipated to grow with 5.6% CAGR in the near future. 

Key Benefits For Stakeholders

  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current China synthetic fiber market trends and future estimations from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
  • The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The China Synthetic Fiber Market

  • The COVID-19 pandemic has negatively affected the global economy and is subsequently shrinking the GDP in global economies; thereby, changing consumer spending patterns globally.
  • The China synthetic fiber market has witnessed a negative effect due to COVID-19 pandemic. The automotive sector in China is negatively impacted due to the COVID-19 outbreak. However, according to researchers including S&P Global Ratings, this sector is predicted to gain its growth face by end of 2022.
  • Synthetic fibers are used in the automotive sector in various applications such as production of automobile carpets, seating fabrics, safety belts, and airbags. Downfall in production of passenger cars and other vehicles in China has negatively impacted the growth of the China synthetic fiber market.
  • The automotive sector in China is grappling with the immediate impacts of COVID-19.This is attributed to supply & demand gap, decrease in sales of passenger vehicles, and disruption in consumption pattern. According to a report by the China Automotive Committee, there was 80% decrease in the production of passenger vehicles in February 2020. Other major consumer of synthetic fiber is the textile sector and this sector is also affected due to the coronavirus outbreak. These factors have negatively affected the growth of the China synthetic fiber market.

 

China Synthetic Fiber Market Report Highlights

Aspects Details
By Application
  • Apparel
  • Home Décor
  • Building & Construction
  • Automotive
  • Appliances
    • Water Heater
    • Large Cooking Appliances
    • Dishwashers
    • Dryers
    • Others
  • Others
By Fiber Type
  • Fiberglass
  • Mineral Wool
  • Polymer non-woven
  • Others
Key Market Players CHANGZHOU TIANMA GROUP CO. LTD., CHINA JUSHI CO. LTD., FOSHAN RAYSON NON-WOVEN CO. LTD., HEBEI YUNIU FIBERGLASS MANUFACTURING CO. LTD., JIAHE TAIZHOU GLASS FIBER CO. LTD., LUYANG ENERGY-SAVING MATERIALS CO. LTD, OWENS CORNING, ROCKWOOL CHINA, TORAY FIBERS (NANTONG) CO. LTD., ZHUHAI HUALI ADVANCED MATERIAL CO. LTD.
 

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The China synthetic fiber market witnessed significant growth in the recent years. This is attributed to rise in use of synthetic fiber in applications such as clothing, pillows, and high-performance outdoor apparel. In addition, polymer nonwoven fibers can be used in sportswear and production of cold weather garments, which is expected to propel the growth of the market. Fiberglass has resembling properties of wool and it also offers resistance toward water absorption, making it suitable in insulation. Furnishing applications include bath mats, dust covers, map shades, scatter rugs, window shades, and wall coverings that use synthetic fiber, owing to its printability and ease in dying. These factors further drive the growth of the synthetic fiber market in China.

Shandong Province located in China is predicted to offer new opportunity in the China synthetic fiber market, owing to massive increase in non-woven fabric sales across this province coupled with increased production capacity and surge in investments in earthwork and waterproof base fabric of roll goods. Shandong Province alone produced 947,000 tons of non-woven fiber in 2018. Non-woven textile industry widely adopts non-woven fiber, owing to its low-cost, enhances production, and can be used during value-added process. It is the key market trend in the China synthetic fiber market.
 

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FREQUENTLY ASKED QUESTIONS?

A. Rise in use of synthetic fiber in applications such as clothing, pillows, and high-performance outdoor apparel. In addition, polymer nonwoven fibers can be used in sportswear and production of cold weather garments, are the other major growth factors in the China synthetic fiber market

A. The China synthetic fiber market size is projected to reach $26.5 million by 2027.

A. Changzhou Tianma Group Co. Ltd., China Jushi Co. Ltd., Foshan Rayson Non-Woven Co. Ltd., Hebei Yuniu Fiberglass Manufacturing Co. Ltd., Jia He Taizhou Glass Fiber Co. Ltd., Luyang Energy-Saving Materials Co, Ltd., Owens Corning, Rockwool China, Toray Fibers (Nantong) Co. Ltd., and Shuhai Huali Advanced Material Co. Ltd. are the most established players in the China synthetic fiber market

A. Building & construction industry is projected to increase the demand of China synthetic fiber market

A. China synthetic fiber market is segmented based on fiber type and application. Based on fiber type, the market is segmented into fibreglass, mineral wool, polymer non-woven, and others. Based on application, the China synthetic fiber market is segmented into apparel, home décor, building & construction, automotive, appliances, and others.

A. Synthetic fibers are added in concrete to reduce plastic shrinkage cracking of reinforced and structural plain concrete. It can also be blended together with concrete that helps reduce shrinkage and temperature cracking in structural plain concrete slabs. It is the major growth factor in the China synthetic fiber market.

A. Automotive, home décor, and building & construction applications are expected to drive the demand of China synthetic fiber market

A. The COVID-19 pandemic has negatively affected the global economy and is subsequently shrinking the GDP in global economies; thereby, changing consumer spending patterns globally. • The China synthetic fiber market has witnessed a negative effect due to COVID-19 pandemic. The automotive sector in China is negatively impacted due to the COVID-19 outbreak. However, according to researchers including S&P Global Ratings, this sector is predicted to gain its growth face by end of 2022. • Synthetic fibers are used in the automotive sector in various applications such as production of automobile carpets, seating fabrics, safety belts, and airbags. Downfall in production of passenger cars and other vehicles in China has negatively impacted the growth of the China synthetic fiber market. • The automotive sector in China is grappling with the immediate impacts of COVID-19.This is attributed to supply & demand gap, decrease in sales of passenger vehicles, and disruption in consumption pattern. According to a report by the China Automotive Committee, there was 80% decrease in the production of passenger vehicles in February 2020. Other major consumer of synthetic fiber is the textile sector and this sector is also affected due to the coronavirus outbreak. These factors have negatively affected the growth of the China synthetic fiber market.

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