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GROWING interest in bio-synthetic fibers resulting from environmental protection trends will boost the synthetic fibers market worldwide. The industry is projected to expand at a CAGR of 10.39% from 2014 to 2019, according to a new market research report from TechNavio.
The report, Global Synthetic Fibers Market 2015-2019, notes rising demand for bio-synthetic fibers, which are more environment-friendly than traditional synthetic fibers. In response, manufacturers are developing techniques to produce greener synthetic fibers from plant sources instead of petrochemicals.
Synthetic fibers, which are mostly nonbiodegradable and difficult to recycle, require an energy-intensive production. TechNavio vice president Faisal Ghaus said with the manufacturing process depending more heavily on petrochemicals, price volatility and availability become a key issue.
Geosynthetic fibers, meanwhile, are experiencing rising demand, thanks to their use in construction, sewage treatments, erosion prevention, water management, and road construction. Demand for this type of fiber for road and waste management in the APAC makes the region a leading force in this category.
Mr. Ghaus said demand for geosynthetic fibers is growing significantly because of increased awareness of environmental protection and performance advantages.
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