Synthetic Fibre Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 32522CARevenue
$359.6m
Past 5-Year Growth
Profit
$X.Xm
Employees
845
Businesses
24
Wages
$XX.Xm
Synthetic Fibre Manufacturing in Canada industry analysis
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.
Trends and Insights
- 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 United States reap the benefits of economies of scale.
- 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.
- 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 downstream textile mills.
- 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 synthetic fibre for less, capturing domestic demand.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 3.2 % over the past five years, to reach an estimated $359.6m in 2023.
Trends and Insights
Lower production costs send customers abroad
- Over the past five years, Canadian synthetic fibre manufacturers have faced intensifying competition from developing economies with lower production costs and cheaper labour.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Environmental consciousness will likely force producers to innovate
- Rising consumer awareness surrounding synthetic fibre's negative environmental impacts has prompted textile mills to seek more sustainable materials.
Biggest companies in the Synthetic Fibre Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
INVISTA (Canada) Company | 121.6 | 2.1 | 1.7 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Synthetic Fibre Manufacturing in Canada
Products & Services
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.
Trends and Insights
Nylon dominates synthetic fibre production
- This segment includes high-tenacity nylon, a strong and durable fibre used in industrial applications, and all other nylon.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Textile Mills in Canada
- Glass Product Manufacturing in Canada
Complementors
- Men's & Boys' Apparel Manufacturing in Canada
- Women's, Girls' & Infants' Apparel Manufacturing in Canada
International industries
- Synthetic Fiber Manufacturing in the US
- Synthetic and Natural Textile Manufacturing in Australia
- Synthetic Fibre Manufacturing in Germany
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
High-tenacity nylonsLow-tenacity nylonsPolyesterRayonAcrylicCompanies
INVISTA (Canada) CompanyPurchase this report to view all 1 major companies in this industry.
Related Terms
CELLULOSIC FIBRENONCELLULOSIC FIBREMONOFILAMENTFILAMENT YARNSTAPLETOWOFFSHORINGMOST FAVOURED NATION TARIFFIndustry Code
NAICS 325220 - Synthetic Fibre Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
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...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
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...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
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...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of INVISTA (Canada) Company's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for INVISTA (Canada) Company, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Several private organizations support downstream textile companies, inflating demand for fibre producers. Synthetic fibre sales depend on the success of the apparel and home ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Synthetic Fibre Manufacturing industry in Canada in 2024?
The market size of the Synthetic Fibre Manufacturing industry in Canada is $359.6m in 2024.
How many businesses are there in the Synthetic Fibre Manufacturing in Canada industry in 2023?
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.
Has the Synthetic Fibre Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Synthetic Fibre Manufacturing industry in Canada has been declining at a CAGR of 3.2 % between 2018 and 2023.
What is the forecast growth of the Synthetic Fibre Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Synthetic Fibre Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Synthetic Fibre Manufacturing market in Canada?
The biggest company operating in the Synthetic Fibre Manufacturing market in Canada is INVISTA (Canada) Company
What does the Synthetic Fibre Manufacturing in Canada include?
High-tenacity nylons and Low-tenacity nylons are part of the Synthetic Fibre Manufacturing industry.
Which companies have the highest market share in the Synthetic Fibre Manufacturing in Canada?
The company holding the most market share in Canada is INVISTA (Canada) Company.
How competitive is the Synthetic Fibre Manufacturing industry in Canada?
The level of competition is high and steady in the Synthetic Fibre Manufacturing industry in Canada.
