Growth of Fiber Intermediate Market Attributed to Thriving Textile and Petrochemical Industries

Global Fiber Intermediate Market: Demand Analysis and Growth Forecast

Fiber intermediates find applications across diverse industries such as plastic, textile, petrochemical, automobile, and others. Commonly used fiber intermediates include paraxylene, acrylonitrile, ethylene glycol, purified terephthalic acid, and ethylene oxide. Moreover, polyethylene and polyvinylchloride (PVC) are widely used in the production of plastic bottles and other non-edible packaging products. Furthermore, government regulations, such as the ban on landfills to reduce plastic pollution, have stimulated the demand for PET-based packaged products, which is likely to drive the growth of the fiber intermediates market in the near future.Also, end users of fiber intermediates are polyester, nylon, spandex fibers, anti-freezers, polyurethane resins, bactericides are expected to generate substantial demand going forward.

According to a recent market research report from IndustryARC, APAC is the biggest buyer of polyester across all regions and is causing the fiber intermediate market to surge at a CAGR of nearly 10% in the near future. On the other hand, the report foresees the demand from the US and Europe remain relatively stable.

Fiber Intermediate Market: Disruptive Trends

Fiber intermediate market is estimated to witness robust growth due to increasing demand of stimulant and continuous growth of the automotive sector across the globe. The expanding textiles industry, as a result of increased spending on clothing coupled with changing fashion trends across urban population with increased disposable income, is likely to propel the growth of the fiber intermediates market. Iran based company named FIPCO is a sole producer and exporter of dimethyl terephthalate (DMT) and their upcoming project is based on implementation of a DMT derivatives plant, utilizing high quality DMT product as raw material.

Fiber Intermediate Market: Leading Segments

Based on product type, the fiber intermediate market can besegmented into paraxylene, orthoxylene, TPA, caprolactam, toluene, polyethylene, and others. Production of PET Resin, polyester, nylon, bactericides, spandex fibers, and antifreeze are some common applications served by the product. The report also explores demand potential of the region of Americas, Europe, APAC, and rest of the world.

Global Fiber Intermediate Market: Competitive Landscape

Mitsubishi Rayon Corp., aJapan based organization,is among the prominent names in the fiber intermediate market, recent announced the acquisition of SGL carbon fiber LLC, a U.S. based company. This strategy helped the organization to meet the increased demand for large heave carbon fiber. Its already immense annual production capacity increased by 1000 tones since the acquisition. Some of the other notablecompanies of the fiber intermediate market are Reliance Industries Limited, BASF, 10+, Invista, DSM Fiber Intermediates, and Fiber Intermediate Products Company (FIPCO).

Conclusion

Fiber intermediate is driven by its incrementingusagein the manufacturing of synthetic fiber such as polyester and nylon along with plastic bottles, antifreeze, and others. APAC is expectedemerge as the largest regional market in the near future whereas other countries are anticipated to show moderate growth.