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Global demand for synthetic fibres to soar 3.7% p.a. by 2025: Report

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Consumer demand for synthetic fibres will increase by around 3.7 per cent annually between 2015 and 2025. This has been predicted in a report named ‘Forecasts of regional and global end use demand for textile fibres’ by a global business information firm Textiles Intelligence.

The report further reveals that demand for cotton textile products will, however, grow at a slower pace with just 0.2 per cent growth per annum during the 2015-2025 period.

The trend during the said period will consequently result in an increased share of non-textile products from the current 73 per cent to 79 per cent. Meanwhile, the share of cotton textile products will fall from 27 per cent to just 21 per cent between 2015 and 2025.

Demand for cotton textile products expected in the above mentioned period is expected to go down to what it was in the year 2010. The reason cited is the inclination towards other options like products made from synthetic fibres, etc.

Improvement in the competitiveness of synthetic fibre prices against the prices of other fibres is seen also as one of the reasons for the rise in the market share.