WASHINGTON, April 03, 2023 (GLOBE NEWSWIRE) -- Global Polyester Fiber Market is valued at USD 90.6 Billion in 2022 and is projected to reach a value of USD 150.3 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.5% over the forecast period 2023-2030.
Market Overview
The most recent trends in various modern economic systems have been affected by wealth growth and rapid population. Because many rural and semi-urban areas have access to the internet, it is anticipated that demand for new fashion products in the clothing and home décor sectors will rise throughout the forecast period.
We forecast that the solid category in polyester fiber market sales will account for more than 66% of total sales by 2028 because of its climate, economical, and long-lasting qualities. Solid fibers are in high demand due to their widespread application in garments, interior decorating, and other high-end materials over the anticipated period. Solid fibers have higher tensile strength, are more accessible, have consistent fiber weaving, and are extremely well completed.
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Market Dynamics
Increasing Demand from the Textile Industry to Support Market Expansion
The increased supply of sportswear, quick-dry clothes, and outdoor adventure gear, including tents, sleeping bags, and waterproof liners, are the main factors fueling the growth of the worldwide polyester fiber market. A further factor projected to support market expansion is the rising demand for polyester fiber over cotton because of its superior abrasion resistance, better strength, and anti-wrinkle qualities. The market is expected to have plenty of growth prospects because of the expanding demand from various industries, including the automotive, electronics, and hospitality sectors. Additionally, it is anticipated that the growing use of polyester fiber in products like draperies, mattresses, carpets, and rugs for commercial and domestic use will further stimulate the market.
Increasing the Demand for PET-Grade Materials to Drive The Market Growth
Due to the high tensile strength, stiffness, and flexibility of PET-grade polyester fiber, these materials are frequently utilized in carpets, rugs, and household textile products. Due to the expanding furniture industry's quick response to market changes by producing anti-static and anti-abrasive carpets, rugs, and other products, this grade will experience significant growth.
Top Players in the Global Polyester Fiber Market
- Reliance Industries Limited (Mumbai, India)
- Sarla Performance Fibers Limited (Portugal)
- Märkische Faser GmbH (Germany)
- PolyFiber Industries (Mumbai, India)
- TORAY INDUSTRIES INC. (Chuo City, Japan)
- Nirmal Fibers (P) Ltd (New Delhi, India)
- Indorama Ventures Public Company Limited (Watthana, Thailand)
- Stein Fibers LTD. (Albany, U.S.)
- Green Group S.A. (Peru)
- Kayavlon (Surat, India)
- Diyou Fiber (M) Sdn Bhd (Malaysia)
- Swicofil AG (Switzerland)
- SINOPEC YIZHENG CHEMICAL FIBER LIMITED LIABILITY COMPANY (Yizheng City, China)
- Alpek S.A.B. de C.V (Monterrey, Mexico)
- Zhejiang Hengyi Group Co. Ltd (Hangzhou, China)
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Top Trends in Global Polyester Fiber Market
Top Report Findings
- The PSF category controls most of the polyester fiber market's revenue based on Type. Spinning and non-woven weaving frequently use polyester staple fiber. PSF is mostly used as fiber filling for cushions and couches. Additionally, it is employed in manufacturing polyamide spun yarn, which is later knit or woven into textiles.
- Based on the Source, most of the polyester fiber market's revenue is controlled by the recycled category. Recycled plastic bottles create recycled polyester, often known as rPet. It is a fantastic way to keep plastic out of the garbage. Recycled polyester is produced with significantly fewer resources and Emissions of carbon dioxide than fresh polyester.
- Based on Grade, most of the polyester fiber market's revenue is controlled by the PET category. The most widely used fabric in the textile business is polyester (PET), which makes up roughly half of all fibers produced globally. Additionally, the advancement and advancement of sustainable technology and activities will fuel the market for this category.
- Based on Application, most of the polyester fiber market's revenue is controlled by the apparel category due to its extraordinary qualities, including high flexibility, exceptional wrinkle resistance, and capacity to retain structure. Players in the apparel industry are working to improve their products to meet consumer demand.
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Recent Developments in the Global Polyester Fiber Market
- 2021- saw DAK Americans report that the global supply chain was being hampered by an unexpected and quick increase in the price of paraxylene. As a result, the price of polyester feedstock rose.
Polyster Staple Fiber Category in Polyester Fiber Market to Generate the Major Chunk of Revenue in the Type Segment
For better understanding, based on the Type, the polyester fiber market is divided into Polyester Staple Fiber (PSF) and Polyester Filament Yarn (PFY).
During the forecast period, the market for polyester fiber is anticipated to experience the highest CAGR for the polyester staple fiber category. Polyester staple fibers come in various compositions and cellulosic, natural, or synthetic varieties with variable lengths. Polyester staple fiber is one of the consistent elements of the rising textile market on a larger global scale. It is a very adaptable synthetic fiber with special qualities that increase its demand in various industries, such as fabrics, filters, home furnishings, automobiles, and fiber filling.
On the other hand, the polyester filament yarn category is anticipated to grow significantly. The growing demand for filament yarns in automobile materials, including seat fabrics and interior carpets, creates market expansion prospects. Polyester yarns are widely utilized for one of the top automotive fabrics because of their exceptional qualities, including good pilling resistance, softness, damage tolerance, air permeability, wear resistance, and lightfastness.
North America Region in Polyester Fiber Market to Generate close to Half the Global Revenue
North America region dominates the market throughout the projection period. The quick urbanization and industrialization of developing nations like China and India drive the regional market. Additionally, the region's increased disposable income has increased demand for a higher level of life, helping the market. Key firms' presence in China, Vietnam, and India is anticipated to fuel regional expansion. Additional driving forces for the market include the availability of an abundance of raw materials and the rising demand for textiles, carpets, home furnishings and décor items in the area.
The Asia Pacific region is projected to show a tremendous share of the market. Due to the inclination of consumers for cotton and organic fabric in tribological applications. Due to the rapidly growing demand for the product in commercial and unidirectional fabric applications, the US is the region's largest contributor.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Polyester Fiber Market Forecast Report (2023-2030).
Global Polyester Fiber Market Segmentation
By Type
- Polyester Staple Fiber (PSF)
- Polyester Filament Yarn (PFY)
By Source
- Virgin
- Recycled and Blended
By Grade
- Polyethylene Terephthalate (PET)
- Polyester
- PCDT Polyester
By Form
- Solid
- Hollow
By Application
- Carpets and Rugs
- Non-Woven Fabrics,
- Fiberfil
- Apparel
- Home textiles
- Other Applications
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 90.6 Billion |
| Revenue Forecast by 2030 | USD 150.3 Billion |
| CAGR | 7.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Reliance Industries Limited, Barnet, Sarla Performance Fibers Limited, Märkische Faser GmbH, PolyFiber Industries, TORAY INDUSTRIES Inc., Nirmal Fibers (P) Ltd, Indorama Ventures Public Company Limited, NAN YA PLASTICS CORPORATION, Stein Fibers Ltd., Green Group S.A., Shree Renga Polymers, kayavlon, Diyou Fibre (M) Sdn Bhd, Swicofil AG, SILON, SINOPEC YIZHENG CHEMICAL FIBRE LIMITED LIABILITY COMPANY, Alpek S.A.B. de C.V., Tongkun Group Zhejiang Hengsheng Chemical Fiber Co. Ltd., Zhejiang Hengyi Group Co. Ltd. |
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Key Questions Answered in the Polyester Fiber Market Report are:
- What is the current size of the polyester fiber market, and what is its expected growth rate over the next few years?
- What are the key drivers of demand for polyester fiber, and what are the major factors that could restrain or stimulate market growth?
- What are the major trends and innovations in the polyester fiber industry, and how are they affecting market dynamics?
- Who are the major players in the polyester fiber market, and what are their strategies for growth and differentiation?
- What are the major applications of polyester fiber, and which end-use industries are expected to be the biggest growth drivers?
- What are the major regional markets for polyester fiber, and how do they differ in terms of demand drivers, competitive landscape, and regulatory environment?
- What are the major challenges facing the polyester fiber industry, and what are some potential solutions to these challenges?
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