Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Cambodia Polyester Fabric Market | Outlook, Size, Revenue, Companies, Growth, Analysis, Trends, Forecast, Value, Share & Industry | Market Forecast By Type, By Applications And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Cambodia Polyester Fabric market revenue is projected to grow at a CAGR of 6.4% from 2024-2030.
Cambodia has witnessed growth in its polyester fabric market, primarily driven by increased demand from the apparel and garment industry. This sector plays a crucial role in Cambodia's economy, contributing over 40% of total merchandise exports and making a substantial contribution to GDP. In 2022, garment exports exceeded $9 billion. During the first half of 2023, 15 new residential projects were completed, leading to a rise in existing supply to 82,129 units, marking a year-on-year growth of 4%, which has positively boosted the demand for home textile and furnishing, thereby contributed to the market growth.
Cambodia Polyester Fabric Market Overview
The residential sector, a major consumer of polyester fabric, experienced notable growth in 2022. Residential villa development increased by 60%, while apartment construction soared by 183% compared to the previous year. Cambodia's urban population is projected to reach 7.92 million by 2030, constituting 44% of the total population, up from 6.13 million or 39.5% in 2019.
This growth will necessitate over 1.1 million new homes, with approximately 800,000 needed in Phnom Penh, cities, and surrounding areas. Consequently, there will be increased demand for home textiles and furnishings such as curtains and blinds, thereby boosting the demand for polyester fabric within Cambodia.
Cambodia Polyester Fabric Market Share
Moreover, Cambodia's garment, textile, footwear, and travel goods industry, a key economic driver, benefit from strategic government policies such as the Industrial Development Policy 2015-2025 and the Textile and Apparel Industry Transformation Map 2023-2027. These initiatives aim to enhance production, quality, and sustainability, thereby stimulating the market for polyester fabric and attracting global investment.
Market Segmentation by Types
By type, PET polyester fabric is expected to experience faster growth due to the rise in demand for sustainable and recyclable materials. As consumers and businesses become more environmentally conscious, the demand for PET polyester fabric is expected to rise steadily, driving its faster growth compared to other types of polyester fabrics. Moreover., With increasing awareness about sustainability and the circular economy, the demand for PET polyester fabric is expected to grow rapidly in the coming years.
Market Segmentation by Application
The preference for polyester fabric is majorly in apparel industry due to its widespread adoption in the Cambodian market. This adoption is fueled by its cost-effectiveness, empowering manufacturers to create budget-friendly clothing for both local and international markets. As Cambodia advances its textile production capacities, polyester maintains its pivotal role in the nation's apparel sector.
Market Segmentation by Polyester Content
Fabrics with a polyester content above 40%, up to 70%, are expected to grow at a faster rate in the coming years primarily due to their growing extensive use in manufacturing in everyday apparel such as t-shirts, casual shirts, pants, and skirts.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Cambodia Polyester Fabric Market Overview
- Cambodia Polyester Fabric Market Outlook
- Cambodia Polyester Fabric Market Forecast
- Cambodia Polyester Fabric Market Porter's Five forces Analysis
- Cambodia Polyester Fabric Market Industry Life Cycle Analysis
- Historical Data and Forecast of Cambodia Polyester Fabric Market Revenues and Volume, for the Period 2020-2030F
- Market Drivers and Restraints
- Historical Data and Forecast of Cambodia Polyester Fabric Market Revenues and Volume, By Types, for the Period 2020-2030F
- Historical Data and Forecast of Cambodia Polyester Fabric Market Revenues, By Application, for the Period 2020-2030F
- Historical Data and Forecast of Cambodia Polyester Fabric Market Volume, By Polyester Content, for the Period 2020-2030F
- Key Performance Indicators
- Import and Export Statistics
- Price Trends Analysis
- Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Formosa Taffeta Co. Ltd.
- De Licacy Industrial Co
- Promax Textile Co., Ltd
- Nam Anh Trading Joint Stock Company
- Bellamoosh Lifestyle Llp
- Samaritan Textile (Cambodia) Co. Ltd
- Hung Yen Knitting & Dyeing Co. Ltd
- Jong Stit Co., Ltd.
- Fashion Hometex Co.,Ltd
- Parfun textile Co.,Ltd.
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
- Polyethylene Terephthalate (PET)
- Poly-1, 4-Cyclohexylene-Dimethylene Terephthalate (PCDT)
By Application
- Carpets & Rugs
- Non-Woven Fabrics Fiberfil
- Apparels
- Home Textiles
- Others (Automotive Fabrics, Medical Textiles, Bags and Luggage, etc)
By Polyester Content
- > 90% (Up to 100%)
- >70% (Up to 90%)
- >40% (Up to 70%)
- 40% and Below
For more information about this report visit https://www.researchandmarkets.com/r/8t6a59
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