Topic: Synthetic Fibres Market Report and Forecast 2020-2025
The global Synthetic Fibres Market size was valued at USD 51,213.0 million in 2016. The superior chemical, physical and mechanical properties of synthetic fibers are expected to support the market growth over the forecast period. Synthetic fibers are derived from polymers and are considered as man-made fibers. They exhibit advantageous properties such as strength, elasticity, lightweight, washability, softness, cost-effectiveness, and special properties such as wrinkle resistance, crease recovery, moisture resistance, and high luster. Owing to these factors, these fibers are preferred in various applications including clothing, home furnishing, automotive, filtration, construction, toys, different types of ropes, and net manufacturing.
The Industrial oils market is estimated to account for a value of USD 60.2 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019, to reach a value of USD 80.7 billion by 2025.