Blended Fibers Market Size

Blended Fibers Market Size

Global Blended Fibers Market size was worth over USD 35 billion in 2016 and will surpass 18 million tons by 2024 owing to the potential outlook to obtain desired texture for suiting materials through improved blending of different fabrics including wool with polyester and rapid expansion of apparel market along with increasing number of boutiques and stores.

Despite continuous global economic volatility, improved product differentiation and low switching costs for consumers anticipated to drive apparel industry growth over the forecast timeframe. As per industry estimates, the U.S. apparel market was valued around USD 200 billion in 2016 with sales growth around 3% from previous year.

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Rise in consumer purchasing power along with enhanced product availability through different channels including retail, online portals and stores is expected to boost product demand. In addition, elimination of rewinding and additional yarn production costs will enhance blended fibers market share over the forecast timeframe.

Manufacturers are anticipated to diversify their product portfolio with increasing sales volumes of apparels and house furnishing products through e-commerce portals. Some of the globally recognized portals include Amazon, eBay, Alibaba, and Snapdeal. Increasing manufacturing and exporting of blended fibers across the globe is anticipated to propel the blended fibers market.
 

Several countries including India, China, Indonesia, Vietnam and Taiwan have significantly developed large number of exporting bases to accommodate rising home decor demand. Home decor products have gained high acceptance among consumers to modernize house interiors and exteriors. As to industry experts, home decor market through online portals was valued over USD 34 billion in 2016 owing to easy availability and customized options. Availability of various payment options such as net banking, electronic wallets, credit and debit cards, cryptocurrency cash on delivery (COD) options has positively influenced the blended fibers market revenue.
 

Clothing and related accessories witnessed significant demand with emergence of the retail industry. As per U.S. Consumer Financial Protection Bureau, over two-thirds of the U.S. GDP comes from retail consumption. Therefore, fluctuation in retail business will significantly influence the prospects of the U.S. economy. In addition, increasing recognition of departmental stores will further propel the product demand as these facilities are one the major sales platforms.
 

Rise in domestic production and emergence of various supportive government regulations and schemes will support industry growth. Government campaigns such as “Make in India” and Technology Upgradation Fund Scheme (TUFS) initiatives are aimed at encouraging domestic production in India. Increasing FDI inflow in textile and apparel sectors is also one of the major driving factors. However, continuous variation in the cost of raw materials including cotton, polyester, and nylon may hinder the blended fibers market growth.