The India Specialty Fibers market has grown significantly in the historic period of FY2015-FY2022 and is anticipated to grow at a steady CAGR of 4.68% by FY2030.
Specialty Fibers are a category of fibers exhibiting enhanced characteristics like higher tenacity, toughness, excellent insulation, improved thermal resistance, chemical resistance, etc. Owing to these properties, these high-performance fibers are used in a variety of industries such as construction, agriculture, healthcare, industrial safety, and personal protection.
Increased investments in automotive, high-altitude combat gear, space applications, and safety-related textiles such as the ballistic fabrics used by soldiers at high altitudes are the key factors driving the growth of the Specialty Fibers market in the forecast period. Moreover, the 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. Furthermore, the government’s efforts 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 the ‘Atmanirbhar Bharat Mission’ will most likely favor industrial growth in the upcoming years. 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.
Based on region, the Indian Specialty Fibers Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2022, West India has been dominating the market and consumed approximately 35% of the Specialty Fibers in FY2022. States like Gujarat, Maharashtra, and Rajasthan are the biggest consumers of specialty fibers owing to the presence of textile manufacturers located in these regions.
Based on type, the India Specialty Fibers market is divided into Spandex, Carbon Fiber, Aramid Fiber, High-strength Polyethylene, and Others. As of 2022, Spandex fibers are dominating the India Specialty Fibers market. Due to the remarkable comfort and fit of clothes made with this fibre, the fiber is widely used for producing hosiery, swimsuits, aerobic or exercise wear, ski pants, golf jackets, waistbands, etc. The Indian textile industry is anticipated to propel the Spandex consumption in India, owing to the constantly growing demand for these goods. Due to the high performance of para-aramid and meta-aramid fibres, they find applications in numerous fields, including the manufacture of fire-resistant vests, defense applications, high altitude combat gear, and the aerospace industry, and it is anticipated to further increase in the forthcoming years.
Based on end-use, the India Specialty Fibers market is segregated into Apparel, Aerospace, Renewable Energy, Automotive, Defense, and Others. Among these, Apparel is the leading segment followed by the aerospace sector. Population growth, increasing urbanization, and growth in disposable incomes are all factors contributing to the rise of the apparel sector. However, the aerospace sector is anticipated to foresee an expansion in the forthcoming years.
Major players in the India Specialty Fibers market are Reliance Industries Ltd., Indo Rama Synthetic, Shubhalakshmi Polyesters Ltd., Bombay Dyeing, Toray group, Dupont, Teijin, Yantai Tayho Advanced materials, Hyosung, Sinopec Yizheng Chemical Fibers and others.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2030
Objective of the Study:
• To assess the demand-supply scenario of Specialty Fibers which covers production, demand and supply of Specialty Fibers market in India.
• To analyse and forecast the market size of Specialty Fibers in India.
• To classify and forecast India Specialty Fibers market based on end-use and regional distribution.
To extract data for India Specialty Fibers market, primary research surveys were conducted with Specialty Fibers manufacturers, suppliers, distributors, wholesalers and Traders. 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 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 which was carried out considering the demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Specialty Fibers 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:
• 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, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Specialty Fibers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Growth Rate
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CAGR of 4.68% from FY2023 to FY2030
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Base year for estimation
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FY2023
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Historic Data
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FY2015 – FY2022
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Forecast period
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FY2024 – FY2030
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Quantitative units
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Demand in thousand tonnes and CAGR from FY2023 to FY2030
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Report coverage
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Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap
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Segments covered
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By Type: Spandex, Carbon Fiber, Aramid Fiber, High-strength Polyethylene, and Others.
By End-Use: (Apparel, Aerospace, Renewable Energy, Automotive, Defense, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North India, South India, East India, West India
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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