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As per the analysis of Market Research Future (MRFR) a stable, volume-driven growth trend has been observed in the global fiber intermediates market which will help the market attain a steady CAGR over the forecast period of 2016-2023. Fi9ber intermediates are extensively used in diverse industry verticals such as textiles, cleaning products, textiles, and petrochemicals which sustains the growth of the global fiber intermediates market. Commonly used fiber intermediates such as par xylene, acrylonitrile, ethylene glycol, purified terephthalic acid, and ethylene oxide are used for a myriad of purposes in multiple industries. They can be processed further to make them suited for a wide range of applications. Fiber intermediates are used in the production of PET bottles and debit & credit cards as well. The market is receiving increased investment from manufacturers due to the easy availability of raw materials required for the production of fiber intermediates. Also driving the growth of the market is rigorous R&D efforts by industry players to address the diverse need of customers. Development of advanced and improved fiber intermediates is stimulating the growth of the global fiber intermediate market. However, fiber intermediates have adverse effects on the environment which subjects them to stringent government regulations that can hinder the growth of the market over the forecast period.
Top Key Players:
The key players in the global fiber intermediates market include
BASF SE (Germany),
Daicel Corporation (Japan),
Chevron Phillips Chemical Company (US),
Aareydrugs & Pharmaceuticals Ltd (India),
Fiber Intermediate Products Company (Iran),
Reliance Industries Limited (India),
Ferromet SA (Argentina)
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The global fiber intermediates market has been segmented based on type and application.
By type, the global fiber intermediates market has been segmented into paraxylene, acrylonitrile, cyclohexanone, ethylene glycol, polyethylene, ethylene oxide, and others.
By application, the global fiber intermediates market has been segmented into fabrics, PET resin, anti-freeze, detergents, upholstery, bactericides, and others.
Current Industry News:
In May 2018, BASF, German chemical company and Huafon Group Co., a manufacturer of polyurethane products, signed an agreement to jointly develop polyurethane, bio-fiber and spandex markets in China.
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Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA) are the key markets for fiber intermediates.
APAC account5ed for the largest share of the market in 2017 and is likely to continue the same growth trend over the forecast period. The rapid expansion of the textile industry in developing economies such as China and India spur the growth of the fiber intermediates market in APAC. APAC is home to a number of major textile companies such as FabIndia Overseas Pvt Ltd and Bombay Dyeing, Shangtex Holding Co. Ltd, and Shandong Demian Group the Indian Brand Equity Foundation, the India textiles market is likely to attain a valuation of USD 226 Bn by the end of 2023.
North America is a significant revenue pocket for fiber intermediates market. Supportive government policies which promote domestic manufacturing in the US create a conducive environment for the growth of the North America market.
Europe market for fiber intermediates is expected to showcase positive growth pattern over the forecast period. Various factors have been instrumental in shaping the growth of the Europe fiber intermediates market. The governments in the region have banned landfills to curb plastic pollution which has, in turn, fuelled the demand for PET-based packaging and resulted in the expansion of the fiber intermediates market in Europe. Expanding packaging industry along with high demand for packaged food and beverages also drive the market in Europe.
The Latin America and MEA market is anticipated to exhibit considerable growth over the forecast period. Flourishing packaging industry in these regions due to heightened demand for packaged food items in the region spur the growth of the fiber intermediates in these regions.
Name: Abhishek Sawant
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Organization: Market Research Future
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