Thriving in an era characterized by eco-friendliness, Blended Fibers Market in recent years, has emerged as a niche business catering to some of most pivotal verticals. A vital sub-sphere of the polymers and advanced materials space, blended fibers industry today encompasses companies that have been attempting to recreate fibers that would have minimal impact on the environment.
A recent instance of the same can be attributed to Lenzing’s product launch.Elaborating further, the Austria-based specialty fiber maker Lenzing recently planned the launch of EcoVero, a viscose fiber that apparently has a very low environmental impact. The new product reportedly will have a 100% supply chain transparency, an ecological production methodology, and will use sustainable wood resources. Given its eco-friendly characteristics, this product is likely to set a new benchmark in blended fibers market in the years ahead. As per estimates in fact, blended fibers industry size was pegged at USD 35 billion in 2016.
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Increasing modern technologies adoption associated with blending variety of fabrics including nylon and polyester will drive blended fibers market growth. Improved fabric appearance & durability along with ease in handling will support product penetration.
Textile industry expansion will support blended fibers market growth. As per industry estimates, the U.S. apparel and textile sector and man-made fiber & filament demand were valued over USD 75 billion in 2016.
Increasing consumer disposable income coupled with enhanced product accessibility through various channels including online portals, retail network and stores will boost blended fibers demand. Necessity to avoid rewinding and extra yarn production costs will augment product demand over the forecast period.
Increasing R&D investment and implementation of supportive legislations in several countries will enhance product demand. For instance, Indian government initiatives including “Make in India” and Technology Upgradation Fund Scheme (TUFS) will positively influence domestic productivity. In addition, rising foreign direct investments to boost textile and apparel sector is anticipated to propel blended fibers market. Constant disparity in raw material costs including nylon, polyester and cotton may constraint industry expansion.
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Cotton/Polyester is projected to witness a growth over 3% up to 2024. Potential application scope in daily wear clothing is major factor driving industry growth. Polyester blend with cotton in 59/50 proportion produces more porous and lenient fabric, that is widely used in the textile industry. Superior features including improved strength for shape retention and wrinkle resistance will further enhance product demand. Increasing application in wide ranging manufacturing processes for slacks, dresses and shirts will augment blended fibers market.
Home furnishing was valued over USD 9.8 billion in 2016. Rapid globalization along with high availability of home decor designs and products for consumers will positivity support product penetration. Changing consumer trends associated with custom designed furniture and growing demand for designer blinds & windows will further propel product demand. Moreover, expansion of real estate industry and increasing adoption of ecologically friendly products will drive blended fibers market development.
Apparel segment is expected to hold over 60% market share by 2024. Extensive application of blended fibers for various processes including weaving, knitting, crocheting and felting will drive this segment growth. Increasing demand for fashionable, construction, protective and medical wear will further benefit product demand. Supportive government investment to promote domestic clothing industry is projected to propel blended fibers market growth.
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North America was valued over USD 9 billion in 2016. Efficient supply chain network, strong product offerings along with enhanced customer management are major factors positively impacting regional industry demand.
Global blended fibers market share includes National Spinning, Reliance Industries, Pennine Textiles and Recycling, Sutlej Textiles and Industries and Wellspun Industries. Rising competition among existing players and new entrants is anticipated to enhance product development during the forecast period.
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