Blended Fibers Market Size By Product (Cotton/Polyester, Cotton/Polyester/Cellulose, Nylon/Wool, Elastane/Nylon/Cotton), By Application (Apparel, Home Furnishing, Technical) Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Russia, Portugal, Turkey, China, India, Japan, Australia, South Korea, Taiwan, Vietnam, Indonesia, Bangladesh, Brazil, Argentina, Mexico, Colombia, Saudi Arabia, UAE, South Africa, Iran), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Nov 2017 | Report ID: GMI1718 | Authors: Vitika Verma Report Format: PDF
Global Blended Fibers Market size was worth over USD 35 billion in 2016 and will surpass 18 million tons by 2024.
North America Blended Fibers Market, By Application, 2016 & 2024, (Kilo tons)
Get more details on this report - Request Free Sample PDF
Potential outlook to obtain desired texture for suiting materials through improved blending of different fabrics including wool with polyester will enhance industry growth. Rapid expansion of apparel market along with increasing number of boutiques and stores will further propel blended fibers market penetration.
Despite continuous global economic volatility, improved product differentiation and low switching costs for consumers anticipated to drive apparel industry growth over the forecast timeframe. As per industry estimates, the U.S. apparel market was valued around USD 200 billion in 2016 with sales growth around 3% from previous year.
Rise in consumer purchasing power along with enhanced product availability through different channels including retail, online portals and stores is expected to boost product demand. In addition, elimination of rewinding and additional yarn production costs will enhance blended fibers market share over the forecast timeframe.
Manufacturers are anticipated to diversify their product portfolio with increasing sales volumes of apparels and house furnishing products through e-commerce portals. Some of the globally recognized portals include Amazon, eBay, Alibaba, and Snapdeal. Increasing manufacturing and exporting of blended fibers across the globe is anticipated to propel blended fibers market size.
Several countries including India, China, Indonesia, Vietnam and Taiwan have significantly developed large number of exporting bases to accommodate rising home decor demand. Home decor products have gained high acceptance among consumers to modernize house interiors and exteriors. As to industry experts, home decor market through online portals was valued over USD 34 billion in 2016 owing to easy availability and customized options. Availability of various payment options such as net banking, electronic wallets, credit and debit cards, cryptocurrency cash on delivery (COD) options has positively influenced demand.
Clothing and related accessories witnessed significant demand with emergence of the retail industry. As per U.S. Consumer Financial Protection Bureau, over two-thirds of the U.S. GDP comes from retail consumption. Therefore, fluctuation in retail business will significantly influence the prospects of the U.S. economy. In addition, increasing recognition of departmental stores will further propel the product demand as these facilities are one the major sales platforms.
Rise in domestic production and emergence of various supportive government regulations and schemes will support industry growth. Government campaigns such as “Make in India” and Technology Upgradation Fund Scheme (TUFS) initiatives are aimed at encouraging domestic production in India. Increasing FDI inflow in textile and apparel sectors is also one of the major driving factors for blended fibers market expansion. However, continuous variation in the cost of raw materials including cotton, polyester, and nylon may hinder blended fibers market growth.
Blended Fibers Market, By Product
Cotton/Polyester was valued over USD 7 billion in 2016 due to its extensive usage in manufacturing daily wear fabrics. Polyester blend with cotton in 59/50 ratio produces more absorbent and softer fabric which is extensively used in the textile industry. Polyester, when blended with cotton, contributes more strength towards wrinkle resistance & shape retention as cotton produces comfort along with high porosity and heat conduction. Strong application in producing a wide range of shirts, dresses, and slacks is expected to propel the overall blended fibers market size over the forecast period.
Nylon/Wool will witness growth around 3% up to 2024. In a nylon/wool blend, nylon provides better durability, warmness, and softness, whereas wool significantly contributes to comfort and resilience. Such blend offers more warm, comfortable and yet light garment. Factors such as enhanced porosity, drape, warmth and texture are supporting product penetration.
Blended Fibers Market, By Application
Home furnishing is estimated to surpass 4 million tons by 2024. Shifting consumer trend towards custom designed furniture and rising demand for wallpapers and blinds is anticipated to drive the product market size. Globalization enables easier and wider accessibility of home decor products and designs for consumers. Furthermore, development in housing & real estate sectors coupled with increasing adoption of environmentally friendly products will propel industry growth.
Apparel application will witness CAGR over 3% up to 2024. These clothing extensively utilize several blended fibers for numerous processes including felting, crocheting, knitting, and weaving. These materials are used in manufacturing a board range of apparels for several industries including fashion, construction, protective, medical and accessories. Moreover, supportive government investment to promote local apparel design using advanced blended fibers is anticipated to benefit product demand over the forecast timeframe.
Blended Fibers Market, By Region
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. Surge in demand for handcrafted products coupled with home décor including wall hangings, bed linen products and rugs & carpets will boost product demand.
North America accounted for over 20% of the industry share in 2016. The adoption of nanotechnology has led to the manufacturing of advanced fabrics at a microscopic level, offering lightweight material for the garments. Further, increasing usage of home furnishing products in residential and non-residential sectors will drive the blended fibers market.
Competitive Market Share
Global blended fibers market is fragmented in nature owing to the presence of both local and international manufacturers. Some of the major industry participants include Wellspun Industries, Sutlej Textiles and Industries, Pennine Textiles and Recycling, National Spinning, and Reliance Industries. Other prominent players are Hebei Diamond Cashmere Products, James Robinson Fibers, The Fibre Company and The Natural Fibre Company.
Increasing competition between new entrants and existing players expected to augment new product development over the forecast period. The manufacturers are expected to adopt several strategic implementations such as mergers & acquisitions, partnerships, and supply contracts to increase their customer base.
Blended Fibers Industry Background
Get more details on this report - Request Free Sample PDF
Blended fibers can deliver required characteristics that may not be present in single fiber. Therefore, cost of an expensive yarn can be cut down by blending it with low-cost fiber, producing a more cost competitive product. Finishing, weaving, and doubling further improving product efficiency is anticipated to foster industry expansion.
Strong economic growth along with robust expansion in textile industry particularly in emerging economies will drive product demand. Increasing consumer preference for organic and natural products will also be the determining factor shaping the industry demand. Surging demand for enhancing appearance and durability of the fabric in the textile industry will foster industry size over the forecast period.
What Information does this report contain?