Fiber Market is projected to grow at a CAGR of 6.1%

Fiber Market

The global fiber market is expected to grow at a CAGR of 6.1% during the forecast period (2024-2029).

A fiber is a type of thin thread, use is generally made using a natural or artificial substance. The term fiber is usually applied to material, that has a long, thin shape, and is generally used to manufacture fabrics. There are two basic categories of fibers, synthetics and natural. The natural fibers, like the cottons, silk, jute, animal fur, and hemp, are obtained through cultivating, whereas the synthetic fibers, like the rayon, polyesters, and acrylic, are manufactured completely, or partially with synthetic materials, like chemicals. Rayon has various properties similar to natural silk, but this material is a cheaper alternative to silk. Rayon is generally obtained from wood pulps and is infused with cotton, or wool, to prepare various types of fabrics. Nylon is a complete synthetic fiber, that has various properties like elasticity, lightweight, and easy maintenance.

One of the major drivers for the increase in the market demand for fibers in the global market is the increase in synthetic fiber utilization in the world. The global increase in the adoption of the fast fashion industry gave rise to the demand for cheaper fabric items and increased the market size of synthetic fiber. Similarly, the increase in governmental initiatives to boost the demand for synthetic fibers, all across the globe also boosted the demand for fiber in the global market. For instance, the textile and fiber industry in India has a great contribution to the nation’s GDP. The India Brand Equity Foundation’s data reveals that the nation’s man-made fiber or synthetic fiber industry contributes about 17% of the total textile industry in the nation. The nation’s synthetic or man-made fiber export reached about US$ 5.78 billion, in the year 2022-23, giving a boost to the global synthetic fiber industry.

The increasing demand for fibers around the globe increased the investments by various companies in the research and development of new materials, that can offer cost-effective and comfortable experiences to the consumer. In May 2024, the Indian textile manufacturer, Shahi Export, and Little King Global Taiwan’s sportswear fabric manufacturer partnered together to establish a synthetic fiber processing facility in India. The companies through this partnership aim to produce synthetic performance fabrics in this facility. Similarly, in June 2023, Advansa came into a joint venture with Asia Pacific Fibes, to launch their new premium sports and activewear fiber Remotion. The companies stated that their new fiber is produced completely from ocean-bound waste materials, like plastic bottles.

The global fiber market by type is segmented into natural fibers, synthetic fibers, regenerated fibers, specialty fibers, and others. Under the global fiber market, the synthetic fiber category of the type segment is estimated to attain the maximum share. Natural fiber is obtained from sources like plants and animal products, whereas synthetic fiber is manufactured using various chemicals. One of the major factors driving the growth of synthetic fiber in the fiber market is the increasing global trend toward animal-free products, which is going to reduce the use of natural fiber in the global market. Synthetic fiber can be manufactured at a lower cost than natural and regenerated fiber and can be produced in a larger quantity. The synthetic fiber is generally stronger and durable than the natural fibers. These fibers absorb less water and are quick to dry.

Based on geography, the global fiber market is expanding significantly in the Asia-Pacific region, as the region is one of the biggest fabric and fiber exporters of the globe. Countries like India, China, Pakistan, and Bangladesh, are among the largest producers and exporters of natural fibers, like silk, cotton, and wool. These nations have also invested heavily, to increase the production and export capability of these natural synthetics in the regions. Similarly, countries like India, China, Bangladesh, and Vietnam, are among the global fabric manufacturing hubs, producing fabrics materials, and finished products, which are further shipped all around the globe. The governments of nations like India and Bangladesh have also increased their domestic subsidies for textile exports, which further boosted the textile production in the region, increasing the demand for the fibers in the regions.

The global fiber market is supported by key players such as The Fibre Co., Natural Fiber Company, Blu Fiber Company, Camellia Fiber Company, LYCRA, Infinited Fiber, AFRY, Stein Fibers Ltd., Secant Group, and Atlantis Fiber.

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This analytics report segments the global fiber market as follows:

  • By Type
    • Natural Fibers
    • Synthetic Fibers
    • Regenerated Fibers
    • Specialty Fibers
    • Others
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Middle East and Africa
      • Saudi Arabia
      • United Arab Emirates
      • Rest of Middle East and Africa
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Rest of Asia-Pacific