Pune India, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the polyester fiber market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the polyester fiber market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the grade, foam, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global polyester fiber market are Indorama Ventures Public Company Limited, Nan Ya Plastics Corporation, Mossi Ghisolfi Group, Sinopec Yizheng Chemical Fibre Limited Liability Company, Reliance Industries Limited, Swicofil AG, Stein Fibers Ltd., Zhejiang Hengsheng Chemical Fiber Co., Ltd., Toray Industries, Inc., William Barnet and Son, LLC among other. To achieve a substantial market share in the worldwide polyester fiber market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A growing demand for carpets and rugs in the commercial and residential sectors drives the polyester fiber market, while an increase in nonwoven materials and products, along with the growing urbanization and home décor industries, are expected to drive the polyester fiber industry to grow.A growing preference for polyester fibre over cotton is expected to help boost the market, due to its abrasion resistance, strength, and anti-wrinkle properties, as well as its increased abrasion resistance. A wide range of industries, such as automobiles, electronics, and hospitality, are expected to contribute to the market's growth.In addition, polyester is also used to make ropes and yarns that are used in safety belts, conveyor belts, tapes, tire reinforcements, and plastic reinforcements due to its high strength and tenacity.There will also be a positive effect on the market from the thriving demand for polyester fibres from industries like hospitality, automotive, electronics, household, and manufacturing. Further, a rise in the mattress market in the coming years is likely to further strengthen the demand for polyester fibres. There are some factors which are hampering the growth of the market such as stringent regulations and harmful effects associated with the polyester. Furthermore, technological advancements and continuous research and development activities by major key players, boosts the growth of the market.
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Scope of Polyester Fiber Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Grade, Foam, Application and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Indorama Ventures Public Company Limited, Nan Ya Plastics Corporation, Mossi Ghisolfi Group, Sinopec Yizheng Chemical Fibre Limited Liability Company, Reliance Industries Limited, Swicofil AG, Stein Fibers Ltd., Zhejiang Hengsheng Chemical Fiber Co., Ltd., Toray Industries, Inc., William Barnet and Son, LLC ,among other. |
Segmentation Analysis
Polyethylene terephthalate is expected to be the fastest-growing segment in 2022.
The grade segment is PCDT polyester and polyethylene terephthalate (PET) polyester. The polyethylene terephthalate segment is expected to witness the highest growth rate during the forecast period. This segment has grown due to its use in the production of high-quality fabrics and its ability to blend with other materials in order to enhance wrinkle-free and stain-resistant qualities. Curtains, drapes, furniture covers, and upholstery are also often made with them.
Solid is expected to be the fastest-growing segment in 2022.
The form segment is divided into solid and hollow. The solid segment is expected to witness the highest growth rate during the forecast period. Many kinds of items are made from this fiber, including garments, home furnishings, and nonwoven fabrics. It has many great qualities, including high tensile strength, durability, and even ease of weaving.
Apparel is expected to be the fastest-growing segment in 2022.
The application segment is carpets and rugs, home textiles, non-woven fabrics, apparel, and others. The apparel segment is expected to witness the highest growth rate during the forecast period. A growing number of consumers are choosing sustainable fashion, which is clothing made from polyester fiber, as textile technology advances. Because it is cheaper, thinner, and comes in more patterns and colors than other fibers, it is an ideal substitute for cotton.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the polyester fiber market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. The Asia-Pacific segment of global polyester fibre is predicted to grow rapidly over the predicted period due to significant growth and numerous developments in the textile industry. Because of the increasing construction projects of business and residential infrastructure within the growing nations.
Country Analysis
- Germany
Germany's polyester fiber market size was valued at USD 6.02 billion in 2022 and is expected to reach USD 11.14 billion by 2030, at a CAGR of 8% from 2023 to 2030.
There is a growing demand for polyester fibers in the region due to an increase in textiles, furniture, carpets, and rugs made from the material.
- China
China’s polyester fiber market size was valued at USD 9.7 billion in 2022 and is expected to reach USD 18.35 billion by 2030, at a CAGR of 8.3% from 2023 to 2030.
As a result of the increasing number of homes and businesses being built in emerging nations like China, it is anticipated that the local market will see a substantial expansion of the home furnishings and flooring industries throughout the forecast period.
- India
India's polyester fiber market size was valued at USD 7.5 billion in 2022 and is expected to reach USD 14.08 billion by 2030, at a CAGR of 8.2% from 2023 to 2030.
Rapid urbanization and industrialization is booting the growth of the polyester fiber market. Moreover, rising consumer demand due to rising fashion trends accounts for a major share for the market growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand for polyester fiber in the manufacturing of home furnishing products, propelling the growth of the market across the countries.
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