Global Statistics Representing Staple Fibers Market Scenario
Increasing Per capita consumption of cloths and growing fashion industry are likely to escalate the global demand for Staple Fibers. As staple fibre plays vital role in production of cloths and garments. For instance, according to the United Nations Economic Commission for Europe (UNECE), the global turnover of fashion industry was around US$ 179.74 billion and it produced 60 million tonnes of garments in 2018 and it is anticipated to reach at 100 million by 2030.
Rising per capita income and changing cloths preference positively impact on the textile industry which in turn propel the growth of staple fibre market during forecast period 2019 - 2016. For instance, according to the Indian Brand Equity Foundation, the domestic textile industry was valued at US$ 223 billion in 2017 and it is forecasted to reach at US$ 150 billion by 2021.
Apparel segment is surmised to be one of the major consumer of staple fibers. According to the study conducted by the Chemicals & Petrochemicals Manufacturers' Association, Apparel segment is said to have consumed 3,365 kilo tons in 2016 and it is estimated to raising at a CAGR of 4.2% from 2017 to 2025 and it is also expected to be the dominant driver of demand.
Global staple fibers market was valued at USD 24.11 billion in 2017 and is expected to reach a value of USD 36.44 billion at a CAGR of 3.8% during the forecast period, 2019–2026.
Global staple fibers market is segmented by type, application and structure.
By type, the market staple fibers is segmented into cotton, cellulosic, polyester and others. Cotton segment is expected to grow at the fastest CAGR as it find major applications in the textile industry. Growing textile industry is expected to propel the growth of the staple fibers market. For instance, according to the Indian Brand Equity Foundation, textile industry is critically based on the cotton. Besides, according to the same sources, Indian textile industry is expected to reach US$ 223 billion by 2021.
By application, the staple fibers market is segmented into home furnishing, personal care & hygiene, automotive, construction, apparel, and filtration. Automotive is gaining major traction in the global staple fibers market. Staple fibers finds its major application in the production of automobile carpets, roof, floor, seating fabrics, insulation material, safety belts etc. Growing automotive components market is anticipated to boost the staple fibers market during the forecast period 2019- 2026. For instance according to the news published by consultancy.uk (UK's advisory and consulting industry) in 2017, the global automotive industry is expected to grow 114 million units in worldwide sales annually by 2024 and growing at rate of 2.8 per annum during forecast period 2019-2026.
Addition to that, personal care and hygiene segment is likely to gain significant market share in the global staple fibers market owing to increasing use in the production of personal care wipes, baby care wipe, adult incontinence products such as adult diaper, large shaped pads, washable Under pads, mattress protectors etc. Adult incontinence is the emerging and widely getting accepted by the society which is forecasted to boost demand for staple fibre.
By Structure, the staple fibers market is segmented into Solid and hollow. Hollow polyester fibers are majorly used in the production of artificial lather materials owing to high resilience properties so as it is also used in high performance market such as ballistic protection, high pressure water jet suits etc.
Geographically, the global staple fibers market is segmented into four regions: North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America is projected to lead global staple fibers market during forecast period 2019- 2026 owing to the growing automotive industry in North America. Staple fibers are frequently used in production of automotive component such as seat, seat belts, airbag etc... For instance according to the American Automotive Policy Council, the contribution of automakers and their suppliers in America's GDP was 3% in 2018. Besides America exported more than US$ 692 billion valued vehicles and parts in 2018.
Asia Pacific is estimated to be growing and becoming lucrative market for staple fibers market in global perspective. It is due to the growing construction industry where staple fibers are extensively used for various purpose such as it is used in concrete to improve the cracking resistance, also used for roofing materials. for instance, according to Invest India (regulated by Government of India), construction market in India is anticipated to be third largest ,market in the world and construction output in India is projected to grow at average annual rate of 7.1 %.
Europe is likely to witness significant growth in staple fibers market, in account of increasing apparel market. For instance, according to the Global Apparel & Textile Trade and Sourcing, Germany Apparel Market was valued at US$ 52,000 million in 2016 and it is anticipated to grow at US$ 72,320 million by 2020.
LAMEA is expected to witness steady growth in staple fibers market owing to increasing investment on textile and apparel sector. For instance, according to Texbrasil (The Brazilian Textile and Fashion Industry Internationalization Program), Brazils total investment on textile and apparel sector was 0.28 million in 2016 and increased up to 0.3 million in 2017. This investment intensifies the balanced growth in the region.
Barnet GmbH & Co. KG(Germany), Aditya Birla Group (India), Sateri International Co. Ltd.(China), Zhejiang Hengsheng Chemical Fiber Co., Ltd. (China), China Petroleum & Chemical Corporation (China), Reliance Industries Limited (India), Celanese (United States), Hubei Botao Synthetic Fiber Co. (China), ltd. TEIJIN FRONTEIR Co. Ltd., Indorama Ventures Public Company Limited (Thailand), Toray Industries, Inc. (Japan), Zedtex Australia Pty Ltd. (Australia) and XINDA Corp (Germany).
Staple Fibers Market Segmentation