Key Market Indicators
Synthetic fiber consumption is projected to hit 261 million kilograms by 2028, according to recent industry data. This marks a rise from approximately 240 million kilograms in 2023, reflecting an average annual growth rate of 1.4%. The demand for synthetic fibers has been on an upward trend, with a year-on-year increase of 1.6% reported recently. The surge in consumption places Italy, Poland, and the United Kingdom in the second, third, and fourth positions, respectively, in the global ranking for synthetic fiber usage. Industry analysts attribute this growth to several factors, including advancements in textile technology and an increasing preference for durable and versatile synthetic materials in various applications. As the market continues to expand, stakeholders are keeping a close watch on these trends to strategize for the future.
