India Specialty Fibers Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, Type, End Use, Distribution Channel, Region, Competition, Trade, Market Analysis, 2015-2030

Format: Online | Last Updated: Jan 2022

[Online Quarterly Update] Specialty Fibers is a category of fibers exhibiting enhanced characteristics like higher tenacity, toughness, excellent insulation, improved thermal resistance and chemical resistance etc. Hence, these high-performance fibers are used in a variety of industries such as construction, agriculture, healthcare, industrial safety, personal protection etc.  Increased investments in automotive, high altitude combat gear, space applications and safety related textiles such as the ballistic fabrics used by soldiers at high attitudes are the key factors driving the growth of the Specialty Fibers market in the forecast period. Moreover, growing demand for protective aramid suit clothing for firefighters is likely to propel the Specialty Fibers demand in the forecast period. Due to its strong penetration across a large group of industries, the Indian market for the specialty fibers market is anticipated to grow at a promising rate in tandem with the country’s industrial growth. Hence, India’s Specialty Fibers market in India is anticipated to register a healthy CAGR of 6% during the forecast period.
 
Indian government’s keen interest towards boosting the Indian textile sector and its favorable policies to promote the in-house manufacturing of technical textiles as the nation comes up with ‘Atmanirbhar Bharat Mission’ would keep supporting the industrial growth in the upcoming years. The Union Ministry of Textiles is currently in talks with other countries like Japan and U.S. to support the Indian textile industry with latest technologies for manufacturing Specialty Fibers. Moreover, looking at the vast market potential that the industry holds, the Indian government has been planning to heavily invest in expanding the country’s technical textiles sector. In February this year, the Union government agreed upon a Rs 1,480 crore scheme to boost the production and usage of Specialty Fibres till FY24 in the Indian market. 
 
Spandex Fibers hold the majority share among the various types of Specialty Fibers driven by rising demand for Athleisure clothing for workouts and other athletic activities. Due to its remarkable comfort and fit, the fiber is widely used for producing hosiery, swimsuits, aerobic or exercise wear, ski pants, golf jackets, disposable diapers and waist bands etc. The Indian textile industry anticipates a positive outlook for the Spandex consumption in India, mirrored by increasingly growing demand for these goods. 
 
However, outbreak of COVID-19 significantly affected the country’s Specialty Fibers sector as the supply chains remained largely impacted for a significant period and the nationwide lockdown further exacerbated the plight of the industrialists, specifically the textile industry. Closure of China which is the fourth largest trading partner with India for purified terephthalic acid (PTA), the key raw material for producing Spandex Fibers remained a major factor driving the PTA cost higher on both domestic and international fronts. The imports of Specialty Fibers remained largely impacted with prices for high value products expected to rise by 25-30 per cent over the upcoming quarters. However, with ease in lockdown restrictions and government’s keen focus on its ‘Make in India’ strategy the market outlook seems positive in longer terms and is likely to regain momentum by the second half of the year.
 
Years Considered for this Report:
 
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
 
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Objective of the Study:
 
• The primary objective of the study was to evaluate and forecast Specialty Fibers capacity, production, demand, inventory, and demand – supply gap in India.
• To categorize Specialty Fibers demand based on application, end use, grade, source, purity, region and sales channel.
• To study trade dynamics and company share in India Specialty Fibers market.
• To identify major customers of Specialty Fibers in India.
• To evaluate and forecast Specialty Fibers pricing by grade in India Specialty Fibers market.
• To identify and profile major companies operating in India Specialty Fibers market.
• To identify major news, deals and expansion plans in India Specialty Fibers market.
Due to lack of technical expertise, more than 80 per cent of India’s Specialty Fibers requirement is met through imports. India’s fiber manufacturers do not produce specialty fibers and filaments such as nylon 66, high tenacity polyester yarns etc. However, because the Specialty Fibers market encompasses a wide category of fibers, there are certain Indian companies contributing to the market. While India’s Indorama Industries Limited is a leading spandex manufacturer, Bombay Dyeing produces high tenacity polyester fibers. Players involved in Carbon Fiber production include Toray group and Reliance Industries Ltd. Other global players operating in the Indian Specialty Fibers market are Dupont, Teijin, Yantai Tayho Advanced materials, Hyosung, Sinopec Yizheng Chemical Fibers and others. 
Due to heavy reliance on imports, Specialty Fibers prices in India are directly influenced by the international trends. Yearly price variation for Spandex Fibres versus feedstock Purified Terephthalic Acid (PTA) has been depicted in the graph. In FY20, Spandex-20D prices were assessed at USD XXX per MT on bulk contract basis. The prices of Spandex-20D were assessed at USD XXX per MT on bulk contract basis in Q1FY20 down by about XX per cent compared to its prices in Q4FY19. 
 
To extract data for India Specialty Fibers market, primary research surveys were conducted with Specialty Fibers manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Specialty Fibers market over the coming years.
 
ChemAnalyst calculated Specialty Fibers demand in India by analyzing the historical data and demand forecast was carried out considering the end use industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
 
Key Target Audience:
 
• Specialty Fibers manufacturers and other stakeholders
• Organizations, forums and alliances related to Specialty Fibers distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
 
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Specialty Fibers manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
 
Report Scope:
 
In this report, the India Specialty Fibers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
 
Market, by Type
Spandex, Carbon Fiber, Aramid Fiber, High-strength Polyethylene, Others
Market, by End Use
Aerospace, Sports Equipment, Automotive, Electrical and Electronics, Defense and Others
Market, by Distribution Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North, West, East and South

Competitive Landscape
 
 
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give a comprehensive and meaningful insights on the respective product market.
 
Available Customizations:
 
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
 
In case you can’t find what, you are looking for then please get in touch with our custom research team at sales@chemanalyst.com

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