$359.6m
$X.Xm
845
24
$XX.Xm
The Canadian Synthetic Fibre Manufacturing industry has faced a challenging competitive landscape over the past five years. Lower production costs have sent downstream customers abroad while simultaneously expanding import penetration. Lacklustre innovation by domestic producers has shrunk their global competitiveness, forcing them to compete on price and putting downward pressure on profit. The COVID-19 pandemic compounded declines, leading revenue to shrink at a CAGR of 3.2% over the past five years, reaching an estimated $359.6 million in 2023. Falling oil prices and expanding disposable income levels will temporarily relieve synthetic fibre producers, precipitating an estimated 2.9% expansion in revenue in 2023.Canada's synthetic fibre producers have struggled to compete with manufacturers in the United States, China and South Korea, which dominate the global market because of economies of scale and low production costs. In recent years, foreign competition has forced many domestic producers to shut down operations. Expanding environmental consciousness has boosted demand for substitutes like natural fibres, which are renewable and have a much lower environmental impact. Canada's synthetic fibre manufacturers have been slow to innovate, focusing instead on improving product quality and cutting costs.Despite substantial challenges, Canada's Synthetic Fibre Manufacturing industry will decline more gradually over the next five years. Fibre producers will shift toward using recycled fibres amid expanding regulatory standards and consumer preferences for environmentally-friendly materials. Innovations in higher-value products that cater to niche markets, like electric vehicles, will also foster growth. Over the next five years, revenue is projected to decline at a CAGR of 1.6% to reach an estimated $332.3 million in 2028.
Industry revenue has declined at a CAGR of 3.2 % over the past five years, to reach an estimated $359.6m in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
INVISTA (Canada) Company | 121.6 | 2.1 | 1.7 |
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Synthetic Fibre Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including High-tenacity nylon, Other nylon and Other manufactured fibres. High-tenacity nylon is the largest segment of the Synthetic Fibre Manufacturing in Canada.
Nylon dominates synthetic fibre production
The Synthetic Fibre Manufacturing industry in Canada produces cellulosic and noncellulosic fibres and filaments in the form of monofilament, filament yarn, staple or tow. Key cellulosic organic fibres and filaments include rayon and acetate. Noncellulosic fibres and filaments include acrylic, nylon, polyester and spandex. This industry does not include fibre, yarn or thread mills, thread manufacturers of any other fibres or manufacturers of hemp yarn.
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NAICS 325220 - Synthetic Fibre Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Import competition has crushed domestic fibre producers over the past five years. Developing markets like China benefit from lower production costs while producers in the Uni...
Learn about an industry's products and services, markets and trends in international trade.
High-tenacity nylon is at the centre of innovative industrial goods. Electric vehicles use the material for electrical insulation and tire cords, among other uses.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Ontario commands synthetic fibre production as the region holds more than two-thirds of the facilities. As Canada’s most populous province, Ontario has an abundance of downst...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Foreign competition has intensified as customers turn to lower costs abroad. Lower wage and operational costs in countries like China enable foreign producers to sell synthet...
Learn about the performance of the top companies in the industry.
One producer dominates Canada’s Synthetic Fibre Manufacturing industry. INVISTA’s global reach and economies of scale have helped it maintain it’s frontrunner position.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Several private organizations support downstream textile companies, inflating demand for fibre producers. Synthetic fibre sales depend on the success of the apparel and home ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases are the largest cost for synthetic fibre producers. Volatility in the price of crude oil, a major input, has impacted manufacturers’ ability to control purchase cos...
Including values and annual change:
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Key data sources in Canada include:
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The market size of the Synthetic Fibre Manufacturing industry in Canada is $359.6m in 2024.
There are 24 businesses in the Synthetic Fibre Manufacturing industry in Canada, which has grown at a CAGR of 0.9 % between 2018 and 2023.
The market size of the Synthetic Fibre Manufacturing industry in Canada has been declining at a CAGR of 3.2 % between 2018 and 2023.
Over the next five years, the Synthetic Fibre Manufacturing industry in Canada is expected to decline.
The biggest company operating in the Synthetic Fibre Manufacturing market in Canada is INVISTA (Canada) Company
High-tenacity nylons and Low-tenacity nylons are part of the Synthetic Fibre Manufacturing industry.
The company holding the most market share in Canada is INVISTA (Canada) Company.
The level of competition is high and steady in the Synthetic Fibre Manufacturing industry in Canada.