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The Fiber Intermediates Market is subject to a variety of dynamic factors that collectively influence its growth, trends, and competitive landscape. Here's an exploration of the key market dynamics shaping the Fiber Intermediates Market, presented in a paragraph with a pointer format:
Textile Industry Dominance:
The Fiber Intermediates Market is significantly influenced by the textile industry, as fiber intermediates serve as essential precursors for the production of synthetic fibers. The demand for textiles, apparel, and home furnishings, especially in emerging economies, propels the growth of fiber intermediates.
Polyester and Nylon Production Surge:
Polyester and nylon, derived from fiber intermediates, witness a surge in production. The versatility of polyester in textiles and the robust properties of nylon in various applications, including automotive and industrial sectors, contribute to the high demand for fiber intermediates.
Asia-Pacific as a Key Market Driver:
The Asia-Pacific region emerges as a key driver for the Fiber Intermediates Market. The growth of manufacturing activities and the textile industry in countries like China and India fuels the demand for fiber intermediates, positioning the region as a dominant player in the market.
Fluctuations in Crude Oil Prices:
The market is susceptible to fluctuations in crude oil prices as many fiber intermediates, such as PTA (purified terephthalic acid) and MEG (monoethylene glycol), are derived from petrochemical feedstocks. Variations in oil prices impact production costs and, consequently, the pricing and competitiveness of fiber intermediates.
Emergence of Sustainable Alternatives:
The Fiber Intermediates Market experiences the emergence of sustainable alternatives and eco-friendly processes. Bio-based and recycled fiber intermediates gain traction as the industry responds to the growing demand for environmentally responsible practices and materials.
Technological Innovations in Production Processes:
Continuous technological innovations drive advancements in fiber intermediate production processes. Manufacturers focus on improving efficiency, reducing energy consumption, and adopting cleaner technologies to enhance the sustainability of fiber intermediate manufacturing.
Shift Towards Non-Woven Fabrics:
The market sees a shift towards the use of fiber intermediates in the production of non-woven fabrics. Non-woven materials find applications in hygiene products, medical textiles, and filtration, driving the demand for fiber intermediates beyond traditional textile uses.
Focus on Specialty Fiber Intermediates:
There is a growing focus on specialty fiber intermediates with unique properties. High-performance intermediates, flame-retardant variants, and those tailored for specific applications in industries like automotive and healthcare gain prominence, contributing to market diversification.
Globalization and Market Expansion:
The globalization of industries and increased market expansion contribute to the growth of the Fiber Intermediates Market. Companies explore opportunities in new regions, driving demand for fiber intermediates in areas experiencing industrial growth and infrastructure development.
Regulatory Compliance and Environmental Standards:
Stringent regulatory compliance and adherence to environmental standards influence the Fiber Intermediates Market. Manufacturers strive to meet regulatory requirements and align with environmental standards to ensure the sustainable and responsible production of fiber intermediates.
Capacity Expansions and Investments:
Capacity expansions and investments in production facilities are common dynamics in the Fiber Intermediates Market. Manufacturers invest in expanding their production capacities to meet growing demand, enhance operational efficiency, and capture market share.
Impact of the COVID-19 Pandemic:
The Fiber Intermediates Market, like many industries, faced disruptions due to the COVID-19 pandemic. Supply chain challenges, reduced industrial activities, and shifts in consumer behavior influenced market dynamics, necessitating adaptability and resilience from industry players.
Collaborations in the Value Chain:
Collaborations within the value chain are prevalent in the Fiber Intermediates Market. Manufacturers, suppliers, and end-users collaborate to optimize production processes, enhance product quality, and address challenges related to raw material sourcing and logistics.
Growing Demand for Recycled and Circular Textiles:
The growing demand for recycled and circular textiles influences the Fiber Intermediates Market. As the textile industry embraces sustainability, there is an increased focus on using recycled fiber intermediates to produce eco-friendly fabrics, contributing to a circular economy approach.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type and Application |
Fiber Intermediates Market Highlights:
Fiber Intermediates Market Overview
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.
At JEC World 2024, Thermolysis introduces completely recyclable goods made from recycled carbon fiber. launched the RCF brand, a sustainable project dedicated to full recycling, with the aim of achieving zero waste. Thermolysis is committed to creating a line of goods that can be fully recycled, using recycled materials as a basis, in order to refute the myth that composite materials cannot be recycled. They are happy to announce the launch of "RCF," a green brand that is socially conscious. This company uses thermolysis to recycle carbon fiber to create a variety of everyday essentials and bicycle accessories.
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.
Hexcel Corp. introduced IM9 24K, a new HexTow continuous carbon fiber, in 2024 to give consumers another alternative for lightweight, robust, and long-lasting composite materials. The HexTow carbon fiber is an intermediate modulus (IM) 24K-filament fiber with a strain of 1.9%, a modulus of 298 gigapascals (GPa), and an average tow tensile strength of over 6,300 megapascals (MPa). Compared to the Hexcel baseline IM7 fiber, a crucial part of commercial airplane engine fan blades and other aerospace applications, this product offers a 12% increase in tensile strength.
CMC Electronics is happy to present the Commercial-Off-The-Shelf (COTS) line of fiber pigtailed analog InGaAs Avalanche Photodiode (APD) receivers in 2024, marking its most recent accomplishment in microelectronics. This cutting-edge receiver is revolutionizing the field of sensing applications with its unmatched performance and versatility. It redefines industry standards with its engineering for applications such as distributed temperature sensing, scanning LiDAR, free space optical data communication, and eye-safe laser range finding
Recent Development
June 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 manufacturers
- Traders and distributors of fiber intermediates
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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