Chemical Fiber Oil Market Size, Development, Key Opportunity, Application and Forecast to 2031

Chemical Fiber Oil: Introduction

• Chemical fiber oil is used to reduce fiber and metal friction, and regulate static charges produced during fiber processing. Chemical fiber oil plays an important role in the manufacture of synthetic fiber by providing surface lubrication.
• It is capable of applying neatening effect to the fiber, making it soft and cohesive. Chemical fiber oil acts as an interface between the contact surface and fiber. It also protects the fiber from roughness caused due to contact with hot plate, guide roll, knitting needle, etc.
• Properties of chemical fiber oil include corrosion resistance, resistance against static charges, balanced degree of cohesion and controlled viscosity, easy emulsification, and non-toxicity. It is also non-allergic and ecologically acceptable.

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Key Drivers of Chemical Fiber Oil Market

• Increase in production of low-cost chemical fibers across the world is expected to boost the consumption of chemical fiber oil. Demand for chemical fiber oil has been rising in developing countries owing to the growth of the clothing market in countries across the globe.
• Increase in prices of raw materials of organic fibers and rise in demand for clothing are the key factors boosting the chemical fiber market. These factors are boosting the consumption of chemical fiber oil.
• Increase in number of technological research and development programs related to chemical fiber manufacturing is anticipated to propel the consumption of chemical fiber oil during the forecast period

COVID-19 Impact Analysis on Textile Industry

• Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. The pandemic has led to disruption of socio-economic life of people globally. The textile industry is pillar of growth of the GDP in India. The COVID-19 pandemic has impacted the export of textile products from India. In turn, this has hampered the chemical fiber oil market in the country.

Chemical Fiber Oil Market Segmentation

• The global chemical fiber oil market can be segmented based on type and application
• In terms of type, the global chemical fiber oil market can be divided into Drawn Textured Yarn (DTY), Fully Drawn Yarn (FDY), Partially Oriented Yarn (POY), and others. Demand for DTY has been increasing due to its applications in various kinds of clothing. This is anticipated to offer lucrative opportunities for the market during the forecast period. DTY is used in the manufacture of bags, garments, seat covers, garments, etc.
• In terms of application, the global chemical fiber oil market can be segregated into polyester, nylon, acrylic, and others. Rise in demand for polyester can be ascribed to its properties such as stain resistance, durability, and wrinkle resistance; and diverse applications. The mixture of polyester and other synthetic fiber gives luster finish and improves appearance. Thus, chemical fiber oil is used in the manufacture of high quality polyester fibers. Polyester fiber is widely employed in applications such as clothing, home furnishing, automotive, and filtration. Increase in demand for polyester in various applications is anticipated to drive the global chemical fiber oil market.

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Chemical Fiber Oil Market: Regional Segmentation

• In terms of region, the global chemical fiber oil market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
• Asia Pacific is estimated to account for prominent share of the global chemical fiber oil market in the near future owing to the expansion in the clothing industry in India and China. These countries are leading producers of chemical fiber in the world.
• Increase in demand for clothing and fabric in developing countries is encouraging manufacturers to expand the manufacturing capacity of chemical fiber. This, in turn, is boosting the consumption of chemical fiber oil.
• Local chemical oil manufacturers from Asia Pacific hold the maximum market share due to their low prices compared to those in Europe and the Americas.