Key Market Indicators
Synthetic fiber consumption is projected to decline to around 470 million kilograms by 2028, down from approximately 486 million kilograms in 2023. This marks a compound annual growth rate (CAGR) decrease of 0.5%. The drop in demand for synthetic fibers is evident, with a year-on-year decrease of 3.4%. Notably, Italy, Poland, and the United Kingdom are key players in this market, ranking second, third, and fourth respectively in terms of consumption. As the synthetic fibers market faces this downturn, stakeholders are closely monitoring trends and shifts within the industry.