Fiber intermediates companies play a pivotal role in the textile and apparel industries. Major players like Invista, Lenzing AG, Formosa Chemicals & Fibre Corp., and Indorama Ventures specialize in manufacturing fiber intermediates such as polyester, nylon, viscose, and acrylics. These companies ensure a steady supply of high-quality raw materials for textile production, meeting the demands of fashion, home textiles, and industrial applications.
The fiber intermediates market, a crucial cog in the production of synthetic fibers, textiles, and plastics, has become a battleground for global giants and niche players alike. Understanding the competitive landscape of this dynamic market is vital for anyone navigating its complexities.
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Fiber Intermediates Market Size was valued at USD 7.23 Million in 2022. The Fiber Intermediates industry is projected to grow from USD 7.8 Million in 2023 to USD 15.8 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 9.20 % during the forecast period (2023 - 2032).
The demand for fiber intermediates is driven by its increasing use in the manufacturing of synthetic fiber such as polyester and nylon, disinfectants, fabrics, and plastic, among others. Some of the commonly used fiber intermediates include paraxylene, acrylonitrile, ethylene glycol, purified terephthalic acid, and ethylene oxide. Fiber intermediates find application in numerous end-use industries such as textiles, plastics, petrochemicals, and cleaning products (detergents).
The fiber intermediates market is likely to grow on account of the increasing demand for polyester in various applications such as clothing, furniture, and upholstery. The expanding textiles industry, as a result of increased spending on clothing coupled with changing fashion trends, is likely to propel the growth of the fiber intermediates market. Additionally, the growing furnishing industry with the rising demand for multifunctional and luxurious furniture is expected to offer lucrative opportunities to players in the fiber intermediates market.
The consumption of fiber intermediates such as ethylene glycol is increasing in the production of polyethylene terephthalate (PET) resin and PET film on account of the increasing demand for PET bottles and beverage containers as they are effective barriers to carbon dioxide and have a high tensile strength. The expanding packaging industry, as a result of increased consumption of packaged food products and beverages owing to convenience and improved product shelf life, is likely to fuel the demand for fiber intermediates. Anti-freeze, detergents, paints, and resins are some of the other applications of fiber intermediates.
Key Players
Some of the key players in the global fiber intermediates market are Reliance Industries Limited (India), Aareydrugs & Pharmaceuticals Ltd (India), Ferromet SA (Argentina), BASF SE (Germany), DowDuPont (US), INVISTA (US), Chevron Phillips Chemical Company (US), Daicel Corporation (Japan), and Fiber Intermediate Products Company (Iran).
Fiber Intermediates Market Share, by Application, 2017 (%)
Regional Analysis
The market in Asia-Pacific accounted for the largest share of the fiber intermediates market in 2017 and is expected to continue its dominance during the forecast period. This growth can be attributed to the rapidly expanding textiles industry in developing economies such as India and China, which are home to a number of major textiles companies such as Fabindia Overseas Pvt Ltd and Bombay Dyeing, Shangtex Holding Co. Ltd, and Shandong Demian Group. According to the Indian Brand Equity Foundation, the Indian textiles market is expected to reach USD 226 billion by 2023 from USD 137 billion in 2016.
North America is another prominent market for fiber intermediates owing to supportive government policies promoting domestic manufacturing in the US. According to the National Council of Textile Organizations, the value of US man-made fiber and filament, textiles, and apparel shipments has increased by 3.70% from 2022-2030 to reach USD 74.4 billion.
The market in Europe is expected to grow at a healthy CAGR during the review period on account of the expanding packaging industry with the rising demand for packaged food and beverages. Furthermore, government regulations, such as the ban on landfills to reduce plastic pollution, have stimulated the demand for PET-based packaged products, which is likely to drive the growth of the fiber intermediates market.
The markets in Latin American and the Middle East & Africa are expected to witness significant growth during the review period on account of the growing packaging industry with increasing consumption of packaged food and beverages.
Segmentation
The global fiber intermediates market has been segmented by type, application, and region.
Based on type, the market has been segmented into paraxylene, acrylonitrile, cyclohexanone, ethylene glycol, polyethylene, ethylene oxide, and others.
Based on application, the market has been divided into fabrics, PET resin, anti-freeze, detergents, upholstery, bactericides, and others.
Based on region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.Recent DevelopmentJune 2021 - Teijin Ltd. reported that their Tenax carbon fiber prepreg had been used in a nacelle (a streamlined housing or tank) for Airbus' next-generation aviation engine demonstration, the UltraFan. Airbus will receive a prototype of the nacelle part developed by Nikkiso Co., Ltd. for the Propulsion of Tomorrow project before the end of 2021. Teijin plans to strengthen its carbon fiber and intermediate material operations to contribute to greater global sustainability, to become a firm that supports the future society.May 2021 - CCM Hockey, a global designer, manufacturer, and marketer of hockey equipment, has renewed its relationship with Sigmatex, a developer of carbon fiber fabrics. For many years, Sigmatex and CCM have been exclusive partners. The alliance, which is focused on performance and innovation, has helped CCM maintain its leadership position in the hockey stick category while also positioning Sigmatex as a vital supplier in top sports performance.
Intended Audience
Fiber Intermediates Market Highlights:
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