Sellbyville, DE -- (SBWire) -- 10/17/2018 --Global blended fibres market to cross USD 57 billion by 2024. Increasing demand for apparels with design and quality along with shifting fashion trends due to changing consumers lifestyle will drive Blended Fibres Market growth. Economic & social development in countries including, India, China and South Korea is expected to propel Blended Fibres Market growth. Improved profitability and low-cost production owing to favorable FDI policies will drive industry growth.
Improved fabric appearance & durability and ease in handling along with expansion in textile industry are the major properties propelling blended fibers market demand. As per industry experts, the U.S. man-made fiber and filament, apparel and textile shipments were valued at around USD 75 billion in 2016.
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Rising income levels, shifting customers focus towards eco-friendly products and environmental awareness is expected to drive product demand. Increasing investment in product innovation and supportive government rules & regulation is projected to provide lucrative opportunities for industry growth.Home furnishing accounted for over 20% of the overall market share in 2016. Development and expansion in real estate industry, increased globalization and easier & wider availability of home decor products & designs for consumers will propel demand. Furthermore, growing consumer preference towards the adoption & usage of eco-friendly products has also boosted blended fibers demand.
Blended Fibres Market By Product
- Cotton/polyester
- Cotton/polyester/cellulose
- Nylon/wool
- Elastane/nylon/cotton
Blended Fibres Market By Application
- Apparel
- Home furnishing
- Technical
Cotton/polyester generated revenue nearly USD 7 billion in 2016. High strength & elasticity, tear-resistant and less prone to pilling & static are key properties supporting growth in this segment. Further, improved shelf-life, wrinkle free and ease in sewing are the other factors enhancing product scope. Nylon/wool will witness over 3% CAGR by 2024. Benefits including reduced cost, absence of skin irritation and less wear-tear are factors supporting product demand.
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Apparel is projected to dominate the overall application segment. Increasing tech-savvy millennial population, disposable income and brand awareness are major factors driving product demand in this segment. Changing consumer preferences and entry of international brands in developing countries is anticipated to propel industry growth.
North America Blended Fibres Market accounted for over 20% of the demand in 2016. Increasing penetration of the corporatized retail has paved way for introducing more formal & systematic processes & procedures in procurement, operation and distribution in the region. Improved product offering, efficient supply chain techniques and better customer management are positive factors promoting regional industry growth.
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APAC blended fibers is projected to surpass 9 million tons demand by 2024. Expansion of production capacities and availability of cheap labor in India and China are the major factors supporting industry growth. Favorable trade policies & increased penetration of organized retail sector are key drivers attracting foreign players in the region.
Global industry market share is consolidated in nature owing to few players control over a major market share. Major industry players include Reliance Industries, Wellspun Industries, Sutlej Textiles & Industries, Hebei Diamond Cashmere Products, Pennine Textiles and Recycling and James Robinson, National Spinning and Natural Fiber Company.
Global Blended Fibers Market to Exceed 18 Million Tons by 2024. : Ellspun Industries, Sutlej Textiles and Industries, Pennine Textiles, Recycling, National Spinning, And
Asia Pacific blended fibers market is anticipated to register over 9 million tons by 2024, owing to growing demand for attractive and corrosion resistant home furnishing products.