The synthetic fibre market is projected to see a steady growth in the coming years, according to Transparency Market Research (TMR). It is expected to rise at a 4.10 per cent compounded annual growth rate (CAGR) over the forecast period 2017 to 2026. The market is estimated to reach $90 billion in revenues by 2026. Its business landscape features fragmentation now.
A handful of vendors dominate this market, while the remaining shares are distributed among several vendors. This is expected to lower the entry barriers for new vendors. The market is also witnessing high participation of regional players, who are generating substantial market revenues. Leading vendors in the global synthetic fibres are involved in the research and development of innovative product portfolio.
Customisation is a leading strategy that is being adopted by vendors to gain momentum in the global specialty fibres market. Collaboration and geographical expansion of production facilities is another key strategy being adopted by market players, the Pune-based market intelligence company said in a press release.
