Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Europe Polyester Fiber Market Size, Share & Trends Analysis Report By Form (Solid, and Hollow), By Grade, By Product Type (Polyester Staple Fiber (PSF), and Polyester Filament Yarn (PFY)), By Application, By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Europe Polyester Fiber Market has experienced substantial growth, and a new report detailing the market trends, size, share, and forecast between 2023 and 2030 has been published. The surge in market growth is attributed to a compound annual growth rate (CAGR) of 6.8% during the forecasted period. Significantly, the market volume in Europe increased to an impressive 11,062.8 kilo tonnes.
In response to environmental concerns, leading manufacturers are focusing on the production of recycled polyester fibers. This shift towards sustainability is evident in the automotive sector, where companies like Freudenberg Performance Materials have adopted eco-friendly processes for producing carpets using recycled PET. These advancements align with the global movement towards greener manufacturing practices.
Polyester Fiber's Versatility Fuelling Market Expansion
The robustness of polyester fibers in the fashion realm, particularly in crafting garments, sportswear, and outdoor wear, is paramount to the market's growth. Highlighted features such as durability and low-maintenance have captured the interest of both designers and consumers, propelling the market forward. Moreover, the spiraling demand for athleisure wear alongside the burgeoning trend of environmentally conscious clothing has spotlighted recycled polyester fibers as a major market driver.
The application of polyester fibers in home textiles further underscores its significance, with wide-ranging uses in beddings, curtains, and upholstery. When it comes to home décor, polyester stands out for its stain and fade resistance, as well as its shape retention, making it a preferred choice among consumers.
According to industry insights by the International Trade Administration, the United Kingdom boasts the highest rate of online shopping, with e-commerce accounting for 30% of the total retail sales, a notable rise from 20% in 2020. The increase in online shopping further boosts the need for robust and lightweight packaging solutions, consequently driving demand for polyester fibers in shipping materials used by e-commerce industries.
Market Dominance and Regional Growth Trajectories
Within the Europe Polyester Fiber Market, Germany maintains the lead with expectations to continue its dominance through 2030, aiming for a market value of $8,645.9 million. The UK and France are also exhibiting promising growth rates, which are projected to contribute to the overall market expansion.
The market segmentation reveals various categories for analysis, ranging from form, grade, product type, application, and country-specific performance. The segments include:
- Form: Solid and Hollow
- Grade: PET Polyester and PCDT Polyester
- Product Type: Polyester Staple Fiber (PSF) and Polyester Filament Yarn (PFY)
- Application: Textile & Apparel, Automotive & Transportation, Home Furnishing, Industrial, among others
- Country: Featuring data from Germany, UK, France, Russia, Spain, Italy, and the broader European region
The complete analysis of the Europe Polyester Fiber Market is a crucial resource for anyone looking to understand the industry landscape, emerging trends, and growth opportunities within this sector.
Companies Profiled
- Reliance Industries Limited
- Toray Industries, Inc.
- Sinopec Group (China Petrochemical Corporation)
- The Bombay Dyeing & Manufacturing Company Ltd. (Wadia Group)
- Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
- Green Group SA.
- W. R. Grace & Co. (Standard Industries)
- Markische Faser GmbH
- Stein Fibers Ltd.
- Nan Ya Plastics Corp. (NPC)
For more information about this report visit https://www.researchandmarkets.com/r/q8gew7
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