Fiber Intermediates Market 2020 business opportunities investments growth analysis company profiles and forecast to 2027
Research Reports
Mar 28, 2022
Fiber Intermediates Market-Overview
The high requirement for synthetic fibers in conventional and novel applications is estimated to stimulate the fiber intermediates market’s growth. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The market is estimated to witness a robust CAGR development in the forecast period.
The surging demand from the textile and home furnishing sectors is predicted to enhance the development of the Fiber Intermediates Market companies. The surging demand from the packaging industry for food and beverage products due to the rise in takeout over 2020 is estimated to boost the fiber intermediates market in the forthcoming period.
Segmental Analysis
The segmental assessment of the fiber intermediates market is conducted based on type, application, and region. The type segment of the fiber intermediates market comprises of acrylonitrile, cyclohexanone, paraxylene, ethylene glycol, polyethylene, and ethylene oxide. The region segment of the fiber intermediates market comprises of Europe, Africa, Asia Pacific, Latin America, North America, and the Middle East. The fiber intermediates market’s application segment comprises anti-freeze, detergents, PET resin, upholstery, bactericides, and fabrics.
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Regional Overview
The fiber intermediates market’s regional scrutiny comprises Europe, Africa, Asia Pacific, Latin America, North America, and the Middle East. The fiber intermediates market in the Asia Pacific region reported for the chief portion of the global market in 2020 and is anticipated to stay in dominance throughout the forecast period. The Asia Pacific region’s growth can be accredited to the emerging economies’ speedily growing textiles industry. The North American regional market is another crucial market for fiber intermediates due to encouraging government guidelines helping domestic production in the US. The fiber intermediates market in the European region is anticipated to grow at a robust CAGR throughout the forecast period due to the intensifying packaging industry and the ascending demand for packaged food and beverages. Additionally, the regional government’s protocols, such as the prohibition on landfills to decrease plastic pollution, have inspired the call for PET-based packaged products, which is expected to propel the advance of the fiber intermediates market.
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Competitive Analysis
The role of government bodies is estimated to be essential to the development of the market. The formation of solid trade relations among several regions is forecasted to have a beneficial effect on growth. The presence of online channels is predicted to enhance the market’s advancement in the upcoming years. The role of innovation is estimated to become even more critical for progress as the market grows. The upgrades in delivery strategies are anticipated to boost the market progress further shortly. The foray of digitization-based methods into operation management and forecasting is predicted to transform the global market in the forecast duration. The overall support to rebuilding economic growth momentum is estimated to be increased than the past few years. The trends in the market are estimated to bolster the progress in the worldwide market. The tendency to invest and expand capacities is estimated to create a good scope for the market in the upcoming years. The market is predicted to be driven by the effects of the COVID-19 pandemic by ensuring that businesses can counteract situations like these in the future.
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The important players in the fiber intermediates market are Daicel Corporation (Japan), DowDuPont (US), Aarey Drugs & Pharmaceuticals Ltd (India), INVISTA (US), Ferromet SA (Argentina), Reliance Industries Limited (India), Chevron Phillips Chemical Company (US), BASF SE (Germany), and Fiber Intermediate Products Company (Iran).
Industry Updates:
Mar 2021 Sasa Polyester Sanayi AS, Turkey’s chemicals and specialty polymers manufacturer, has recently stated that it has chosen to devote a projected USD 330 million to build a new fiber production plant. The investing is arranged to be made to order in the fourth quarter of 2023, and its yearly input to the company’s income is forecast to be about USD 550 million. The plant is anticipated to yield 367,500 tonnes of fiber per year. The company manufactures specialty polymers and intermediates (DMT), filament yarns, and polyester staple fibers.
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Feb 2021 Stepan Co., an Illinois-based company, has gained parts of ?Invista’s business, counting the Invista production plant. The transaction comprises of sites in North Carolina, Wilmington, and Vlissingen in the Netherlands, and the Terate brand. However, the Invista keeps the nylon productions and related brands, counting its “nylon 6,6 intermediates, nylon fiber, and polymer businesses.
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