The Asia-Pacific synthetic fibers market is projected to grow at a CAGR of 7.4% during the forecast period (2020-2026). One of the major factors that propel the growth includes the rising demand for synthetics fiber in the automotive sector as the consumer prefer the lightweight vehicle to reduce fuel consumption.
Browse the full report description Asia-Pacific Synthetic Fibers Market Size, Share & Trends Analysis Report by Type (Acrylics, Polyolefin, Polyester, Nylon, and Others), By Application (Automotive, Clothing, Home Furnishing, Filtration, and Other) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/asia-pacific-synthetic-fibers-market
Moreover, the countries that contribute to the growth of the market in the region include China, India, Japan, and others. Among these China is the largest contributor in the synthetic fibers market owing to significant production in the automotive industry. China exports a considerable amount of synthetic fiber and its related products to countries such as the US and UK.
Moreover, India contributes significantly to the growth of the market owing to the significant market for automotive. For instance, around 2,76,412 passenger cars were sold in the Indian market in December 2020. The sales increased by 17.7% in December 2020 as compared to December 2019. The synthetic fibers have various applications in automotive, such as automotive suspension bushings, cushions, electrical potting compounds, chemical tanks, cable insulation, gas cans, doors, pipes, and sheathing of electrical cables, and others.
Market Coverage
Key Questions Addressed by the Report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast.
o Most affected region/segment
o Recommendations
Asia-Pacific synthetic fibers Market – Segmentation
By Type
By Application
Asia-Pacific Synthetic Fibers Market – Segmentation by Region
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