Polyester Fiber Market Report

Market Insights

"The global polyester fiber market is estimated to grow from USD 89.54 billion in 2022 to USD 143.28 billion by 2028 at a healthy CAGR of 8.78% during the forecast period."

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Polyester fibers are man-made fibers manufactured from the polymer polyethylene terephthalate (PET). PET is a thermoplastic polymer that can be melted and formed into a variety of shapes, including fibers. Polyester fibers are commonly used in the textile industry to make fabrics and textiles.

There are various phases involved in the production of polyester fibers. First, the raw material is polymerized to make PET chips or pellets, which is commonly derived from petroleum. After that, the chips are melted and extruded via spinnerets, which are little holes that generate continuous threads. After cooling, these filaments solidify and can be stretched or drawn to increase their strength and longevity.

The market is driven by a host of factors, some of which are noted below:

• Polyester fibers offer excellent features such as resistance from wrinkles, abrasion, stretching, chemicals, and shrinking, and they also possess other favorable properties such as high strength, quick drying, and being easily washable, making them an ideal and required fiber in the fashion industry.
• The other major factors are increasing apparel demand in the European region, expansion of the fashion industry, and, growing adoption of polyester fiber in apparel and garments.
• Polyester fibers are essential in the creation of some types of automotive tire reinforcing. 
• Furthermore, because of its strength and lightweight qualities, polyester fiber is utilized to make fabrics used in the manufacture of conveyor belts and safety belts.
• Polyester fiber is also used in the production of cushioning materials for pillows and upholstery padding due to its insulating characteristics and relatively soft feel. 
• Because polyester fiber fabrics are stain-resistant, they are appropriate for use as tablecloths. 
• Furthermore, polyester fiber absorbs oil, making it an excellent choice for the application of soil, water, and fire-resistant finishes.

Key Players

Some of the key players in the polyester fiber market are:

• Indorama Ventures Public Company Limited
• Mossi Ghisolfi Group
• Nan Ya Plastics Corporation
• Reliance Industries Limited
• Sinopec Yizheng Chemical Fibre Limited Liability Company
• Stein Fibers Ltd.
• Swicofil AG
• Toray Industries, Inc.
• William Barnet and Son, LLC
• Zhejiang Hengsheng Chemical Fiber Co., Ltd.

Note: The above list does not necessarily include all the market's top players.

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Segment Analysis

Grade Trends

"The PET polyester segment accounted for the largest market share."

The market is segmented as PET polyester and PCDT polyester. PET polyester accounted for the largest market share in 2022 & is estimated to account for a larger share of the market during the forecast period. The growth of the segment is attributed to its usage for manufacturing high-quality fabrics and its ability to blend easily with other materials to improve their wrinkle-free and stain-resistant features. Further, PCDT polyester offers excellent resilience and elasticity, making it a suitable option in the sector of home decor, and it’s also used widely in the applications for producing curtains, drapes, furniture & upholstery covers.

Product Trends

"The solid fiber segment accounted for the largest market share."

The market is segmented as solid and hollow. Solid fiber accounted for a major part of the market share in 2022 & is estimated to remain dominant during the forecast period. This fiber offers excellent features such as high tensile strength, high durability, even easy weaving of the fibers, good finishing, and easy availability, finding application in apparel, home furnishings, nonwoven fabrics, and products. On the other hand, hollow fibers are normally used fillers, that are further used in pillows, quilts, and protective clothing. The growth of the segment can be attributed to its good bulk, high resilience, and warm features, which are the major factors expected to drive the segment’s growth in the market during the forecast period.

Application Trends

"The apparel segment accounted for the largest market share."

The market is segmented into carpet & rugs, non-woven fabrics, fiberfill, apparel, home textiles, and others. The apparel segment dominated the market with the highest share in 2022 & is estimated to hold the largest share of the market during the forecast period.  Owing to its exceptional features of fiber including quick drying, high-wrinkle resistance, excellent elasticity, lightweight, and high shape retention, finding application in the fashion industry, where wrinkle-free and fade-resistant properties are required. In addition, the carpets & rugs segment witnessed a healthy CAGR of more than 6.5% in 2022, which is attributed to the superior characteristics of polyester fiber.

Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific occupied the largest market share in 2022 & is estimated to be the dominant and fastest-growing region in the market with a strong growth rate of 7.5% during the forecast period. Factors such as significant growth and development of home furnishing and flooring activities, owing to the growing construction of residential and commercial buildings in developing countries such as India and China are expected to fuel product demand in the regional market during the forecast period. Furthermore, the European region plays an important role in importing apparel into the market, thereby boosting the demand for the product in the region, over the forecast period. North America is also expected to offer substantial growth opportunities during the forecast period.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in This Report?

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The polyester fiber market is segmented into the following categories:

By Grade Type:

• PET Polyester
• PCDT Polyester

By Product Type:

• Solid
• Hollow

By Application Type:

• Carpets & Rugs
• Non-woven Fabrics
• Fiberfill 
• Apparel
• Home Textiles
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polyester fiber market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com