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Global synthetic fibers market forecast

July 30th, 2021 / By: / Industry News, News

According to a report by ResearchandMarkets.com, the global synthetic fibers market is expected to reach $85.07 billion in 2025, progressing at a CAGR of 7.39 percent between 2021–2025.  

The fastest-growing regional market is Asia Pacific due to a rising demand for clothing and an increasing demand for synthetic fibers in the automotive sector as consumers prefer lightweight vehicles to reduce fuel consumption.

The COVID-19 pandemic has caused an adverse disruption on the overall economy through halted business operations and manufacturing activities, affecting the demand and supply of synthetic fibers around the world.