The latest market report published by Acute Market Reports “Staple Fibers Market, By Type (Cellulosic, Cotton, Polyester and Others), Application (Automotive, Apparel, Construction, Home Furnishing, Personal Care & Hygiene and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Growth, Future Prospects and Competitive Analysis, 2021 - 2029,” the global staple fibers market is expected to grow at a CAGR of 4.2% over the forecast period from 2021 to 2029
Browse the full Staple Fibers Market - Growth, Future Prospects and Competitive Analysis, 2021 – 2029 report at https://www.acutemarketreports.com/report/staple-fibers-market
Market Insights
The global market for staple fibers is witnessing numerous opportunities owing to increase in demand for light weight fabric materials especially in automotive and home furnishing applications. Moreover, increase in disposable incomes and rise in consumer living standards in emerging economies such as China, India and Korea has led to a significant demand for staple fibers. In addition, rise in the use of carpets for its excellent dust catching property as well as increasing growth of sustainable textiles further drives the market growth. Moreover, several factors such as increasing demand for apparels manufactured using recycled materials and increased adoption of staple fabrics, due to fluctuating cotton prices are some other key elements augmenting the growth of the global market. However, retaliatory tariffs on staple fibers especially in North America may hinder the overall growth. Automotive and construction segments offer extreme potential in the global staple fibers market owing to rapid urbanization and increasing growth of the global automotive and construction industries. Rise in the consumption of sustainable fabrics across the globe is another major factor boosting the market growth. Increasing consciousness about the ill effects of non-sustainable fabrics coupled with low cost of polyester staple fibers has increased the demand for staple fibers across the globe.
However, fluctuating raw material prices and lack of skilled labor might hamper the market growth. Although, increasing investments on research & development activities for the development of cheaper products is expected to pose vivid opportunities in the coming years.
Competitive Insights
Currently, the global staple fibers market is witnessing huge opportunities owing to increasing demand for apparel and home furnishing products across the globe. The key players in the market are focusing on key growth strategies such as mergers & acquisitions to strengthen their goodwill in the global market. Some of the major players operating in the global staple fibers market include Indorama Ventures Public Company Limited, Zhejiang Hengsheng Chemical Fiber Co., Ltd., Toray Industries, Inc., Alpek S.A.B. de C.V., Reliance Industries Limited, China Petroleum & Chemical Corporation, Aditya Birla Group, W. Barnet GmbH & Co. KG, Swan Fiber Company and Zhejiang Fulida among others.
Key Trends
