Polyester Fiber Market by Form (Solid and Hollow), Grade (PET Polyester Fiber and Pcdt Polyester Fiber), Product type (PFY and PSF), Application (Textile & Apparel, Home Furnishing, Automotive), and Region - Global Forecast to 2028
The global polyester fiber market size is expected to be USD 102.2 billion in 2023 and is projected to grow at a CAGR of 8.2% during the forecasted period for 151.6 billion for 2028. Numerous applications, including textile & apparel, automotive & transportation, home furnishing, industrial and others, require polyester fiber. The expansion of these applications directly influences polyester fiber demand. Moreover, it's recognized for its recyclability, which aligns with global sustainability goals, and hence which supports market expansion.
Attractive Opportunities in the Polyester Fiber Market
To know about the assumptions considered for the study, Request for Free Sample Report
Global Polyester fiber Market Dynamics:
Drivers: Polyester fiber’s adaptability to various applications
Polyester fiber plays a crucial role in today's textile industry because of its exceptional adaptability to a wide array of applications. Its intrinsic qualities such as strength and durability as well as other significant variables contribute to its flexibility. Polyester is durable, thus its applications in apparel, home textiles, and industrial items guarantee that the finished goods can withstand the rigors of regular use. Polyester can be produced as filament and staple fibers, among other textile forms. This variety of forms gives manufacturers the freedom to choose the form that best suits their particular purpose, be it making durable industrial materials or cozy apparel.
Restraints: Polyester’s limited breathability
While polyester fiber possesses numerous advantageous characteristics, it is not devoid of limitations. One prominent constraint is its restricted breathability, which can impact its suitability for specific applications, particularly in the context of clothing and textiles.
Polyester, being a synthetic fiber, offers less breathability compared to natural fibers like cotton or linen. This reduced breathability arises from polyester's fundamental properties, including its limited moisture absorption and its propensity to trap heat and moisture close to the body. Consequently, this limitation can result in discomfort, particularly in warm or humid conditions.
In the realm of clothing, where breathability is often crucial for comfort, polyester may not be the ideal choice for certain types of garments, such as activewear, summer clothing, or undergarments. When worn in high-temperature environments or during physical activities, polyester clothing can cause individuals to feel overheated and sweaty, as it interferes with the body's natural cooling mechanisms, specifically through evaporation. In summary, polyester's restricted breathability stands as a significant limitation that warrants consideration.
Opportunities: Various customization needs
Polyester fiber finds extensive use in the retrofitting and improvement of pre-existing infrastructure and buildings, primarily due to its superior properties. It is a great option for modernizing HVAC and industrial installations, supporting fire safety systems, and improving plumbing systems because of its resistance to corrosion, chemical resistance, and flame-retardant qualities. The adaptability of polyester fiber really shows in historical preservation projects, where it blends in perfectly with existing structures.
Nowadays, polyester fiber is playing a major part in converting outdated infrastructure into areas that are efficient, sustainable, and modern. This change is largely due to its simplicity of installation and potential for long-term cost reductions, mostly from less maintenance needs. Customization has been increasingly popular in a number of industries, including textiles, and polyester fiber is well-positioned to benefit from this trend.
Challenges: Microplastic pollution due to excessive use
Polyester fiber encounters a significant challenge in the form of microplastic pollution, an issue intrinsically tied to the environmental consequences of polyester and other synthetic textiles. Petrochemicals are the source of polyester, which is produced using non-renewable resources. Polyester fabrics have the potential to exacerbate the issue of microplastic pollution when their life cycle is completed. Microfibers, or tiny plastic particles, are released when polyester decomposes over time.
When worn and laundered, polyester textiles—especially those with fine denier (fiber thickness)—are more prone to shedding these microfibers. The wastewater that contains these microfibers is eventually dumped into rivers and seas, among other natural water bodies. These microplastic fibers are eaten by aquatic species after being released into the environment, and they may eventually make their way up the food chain. Concern over the effects on ecosystems, terrestrial environments, and marine life is growing.
Polyester fiber Market: Ecosystem
The solid polyester fiber segment to account for the largest market share, in terms of value and volume
Over the course of the estimated period, the solid form of polyester fiber is expected to witness the largest Compound Annual Growth Rate (CAGR) and to dominate the worldwide polyester fiber market. Demand for environmentally friendly solid polyester fiber has significantly increased across a range of industries, especially for recycled materials. Solid polyester fiber's remarkable CAGR is shown by the fact that it is still a necessary component in many industries. These include the fashion business, where it is notable for its color retention and affordability, as well as the construction and industrial sectors, where it is crucial for durability.
PET Polyester Fiber is expected to lead the global polyester fiber market during the forecast period
Polyester fiber made of PET is expected to grow at the greatest Compound Annual Growth Rate (CAGR) due to its favorable properties. The market for polyester fiber made of PET (polyethylene terephthalate) has grown significantly, and its strong compound annual growth rate (CAGR) confirms its continued appeal. Several noteworthy causes are responsible for this strong demand. Because PET polyester fiber is so affordable and versatile, it is a highly favored option for a broad range of applications, including clothing, home furnishings, industrial applications, and textiles. Its outstanding resilience to external influences, robustness, and longevity have strengthened its standing across a range of sectors. In light of the growing importance of environmental issues, PET polyester fiber's recyclability makes it an exceptional choice. The environmental responsibility is in line with global sustainability objectives.
Polyester Filament Yarn to be the fastest growing segment between 2023 to 2028
The polyester filament yarn is projected to experience the highest Compound Annual Growth Rate (CAGR) during the forecasted period. In contrast, polyester staple fiber is expected to hold the largest market share in 2022, in terms of value. Polyester staple fiber is in considerable demand, especially in the textile and home furnishings industry. It finds applications in the manufacturing of clothing, bedding, curtains, and various products due to its resistance to wrinkles, ease of maintenance, and cost-effectiveness. The CAGR for polyester staple fiber remains relatively steady, primarily due to its significant role in the textile and home furnishings sectors. However, its growth rate may not match that of polyester filament yarn, as it serves specific applications.
Textile & Apparel segment hold the largest share in the global polyester fiber market
The textile and apparel sector continues to maintain its unchallenged leading position in the huge and constantly changing polyester fiber market. Because of its continued popularity, it is in the forefront, especially when compared to many other applications. There are multiple variables that lead to this supremacy. Because of its special combination of characteristics, including remarkable durability, resistance to wrinkles, and color retention, polyester fiber is an excellent choice for textiles and apparel. This adaptability is present in many different goods, ranging from high-performance sporting to daily wear. The polyester fiber's potential has been completely realized by the textile and apparel industries, allowing them to create a wide range of styles that satisfy different customer tastes and current trends.
The textile and apparel industry is still at the forefront of innovation, actively supporting technological advancements and environmentally conscious efforts. The development of sustainable and recycled polyester fibers guarantees its continued dominance in the polyester fiber market, precisely coinciding with the increasing global emphasis on environmental responsibility. The polyester fiber industry is anchored by the textile and apparel sector, which sets the bar for other uses due to its diverse appeal and ongoing significance.
Asia Pacific holds the maximum share along with the maximum CAGR in terms of both, volume and value
The Asia-Pacific region took a commanding position in the global polyester fiber market in 2022, securing the largest market share. Furthermore, from 2023 to 2028, this region is expected to experience the greatest Compound Annual Growth Rate (CAGR). Because of the large and quickly growing population in the Asia-Pacific region, polyester fiber has found a home in this vibrant and promising market. This region is home to almost 60% of the global population, thus it is not surprising that polyester fiber is used so widely in so many different applications. The spectacular economic growth of the region has also contributed to the development of industrial applications and infrastructure, as well as the increased demand for polyester fibers across a variety of industries, including construction and the automobile industry. The Asia-Pacific region's dynamic customer base and governmental backing for the textile industry are key factors in satisfying the world's demand for polyester fiber.
To know about the assumptions considered for the study, download the pdf brochure
Riseing demand by evolving fashion trends and active lifestyles
With the ever-changing fashion scene and the increasing popularity of active lifestyles, polyester fiber has never had more prospects in the textile sector.
Given how quickly trends change in the fashion industry, polyester's adaptability really shines out. Because polyester can mimic the look and feel of natural fabrics or mix in seamlessly with them, designers are able to create a vast range of fashions while taking advantage of polyester's durability. Polyester easily adjusts to satisfy the demand for creative, cozy, and stylish apparel as fashion trends change.
For polyester in particular, the rise in active lifestyles and athleisure trend has proven advantageous. Because of its stretchability, breathability, and moisture-wicking properties, this synthetic fabric is perfect for athleisure, sportswear, and activewear. It can maintain a sleek and fashionable appearance while keeping people comfortable throughout vigorous activity. Fashion trends are becoming more and more global, and polyester is a reliable material for producers who serve a variety of markets because of its availability and consistent quality. It is easily customizable to meet the needs of consumers worldwide in terms of performance and style preferences.
Key Market Players
- Zhejiang Hengyi Group Co., Ltd. (China)
- Reliance Industries Ltd. (India)
- Indorama Venture Public Company Ltd. (Thailand)
- Toray Industries Ltd. (Japan)
- Sinopec Yizheng Chemical Fiber Limited Liablity Company (China)
- Alpek S.A.B DE C.V. (Mexico)
- Diyou Fiber (M) Sdn Bhd (Malaysia)
- Bombay Dyeing (India)
- Green Group SA (Romania)
- W. R. Grace & Co. (US)
These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the polyester fiber industry. The study includes an in-depth competitive analysis of these key players in the polyester fiber market, with their company profiles, recent developments, and key market strategies.
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Request Sample Scope of the Report
:
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
|
Report Metric |
Details |
|
Market size available for years |
2021–2028 |
|
Base year considered |
2022 |
|
Forecast period |
2023–2028 |
|
Forecast units |
Value (USD Million/Billion), Volume (Kilotons) |
|
Segments covered |
By Form, By Grade, By Product Type, By Application and Region |
|
Regions covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Companies covered |
Zhejiang Hengyi Group Co., Ltd. (China), Reliance Industries Ltd. (India), Indorama Venture Public Company Ltd. (Thailand), Toray Industries Ltd. (Japan), Sinopec Yizheng Chemical Fiber Limited Liablity Company (China), Alpek S.A.B DE C.V. (Mexico), Diyou Fiber (M) Sdn Bhd (Malaysia), Bombay Dyeing (India), and Green Group SA (Romania) |
Based on Form:
- Solid
- Hollow
Based on Grade:
- PET Polyester Fiber
- PCDT Polyester Fiber
Based on Product Type:
- Polyester Filament Yarn
- Polyester Staple Fiber
Based on the Application:
- Textile & Apparel
- Home Furnishing
- Automotive & Transportation
- Industrial
- Others (yoga & exercise mat, packaging and furniture)
Based on the region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
Recent Developments
- In March 2023, Reliance Industries has completed the acquisition of Sintex Industries. The development occurred a year after banks approved the acquisition and a month after the National Company Law Tribunal (NCLT) approved the transaction.
- In January 2023, Stein Fibers Ltd. acquired the Fibertex corporation to improve its product portfolio and better serve its customers.
- In September 2022, Reliance Polyester Ltd, a wholly owned subsidiary of Reliance Industries, has completed the acquisition of the polyester business of Shubhalakshmi Polyesters Ltd. Shubhalakshmi Polyesters has two manufacturing facilities, in Dahej (Gujarat) and Silvassa (Dadra and Nagar Haveli).
- In June 2022, Alpek S.A.B de C.V. announced that it had acquired CarbonLite Recycling LLC’s state-of-the-art PET recycling and pelletization facility in Reading, Pennsylvania, in the US. The site was acquired for USD 96 million debt-free and is subject to customary conditions precedent.
Frequently Asked Questions (FAQ):
Which are the key players of polyester fiber market and what are their strategies to strengthen their market presence/shares?
Some of the key players of polyester fiber market are Zhejiang Hengyi Group Co., Ltd. (China), Reliance Industries Ltd. (India), Indorama Venture Public Company Ltd. (Thailand), Toray Industries Ltd. (Japan), Sinopec Yizheng Chemical Fiber Limited Liablity Company (China), Alpek S.A.B DE C.V. (Mexico), among others, are the key manufacturers that secured contracts, deals in the last few years. Agreements, expansions, technological developments, contracts, and deals was the key strategies adopted by these companies to strengthen their market presence.
What are the drivers and restraints for the polyester fiber market?
Cost effectiveness is one of the major driver for the polyester fiber market while competetion from substitutes is acting as a restraint for polyester fiber market.
Which is the fastest growing country-level market for polyester fiber market and what would be the reason of that growth?
China is the fastest-growing polyester fiber market. The growth is due to the rapid industrialization and economic development have led to a substantial increase in the demand for textiles, apparel, and various consumer goods. Polyester fiber's affordability and versatility have made it a preferred choice for both manufacturers and consumers.
What is the major factor on which the final price of polyester fiber rely?
Price and availability of raw material along with the type of manufacturing process used plays an important role in determining the costs of the polyester fiber.
Which region is expected to hold the highest market share?
Asia Pacific will dominate the market share in forecasted period i.e between 2023 to 2028, due to the huge demand coming from the countries like China, Japan, India and South Korea.
What is the biggest restraint in the polyester fiber market?
Polyester’s limited breathability is one of the biggest restraint to the market. In clothing, where breathability is often desired for comfort, polyester may not be the optimal choice for certain types of garments, such as activewear, summer attire, or undergarments. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved two major activities in estimating the current size of the polyester fiber market. Exhaustive secondary research was carried out to collect information on the market, peer markets, and the parent market. The next step was to validate the findings obtained from secondary sources, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering polyester fiber and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the polyester fiber market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the polyester fiber market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from polyester fiber industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the polyester fiber industry, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of polyester fiber and future outlook of their business which will affect the overall market.
The Breakup of Primary Research:
Note: Companies are classified based on their revenues, product portfolios, and geographical presence.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation:
The research methodology used to estimate the size of the polyester fiber market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations of polyester fiber in different applications at a regional level. Such procurements provide information on the demand aspects of the polyester fiber industry for each application. For each application, all possible segments of the polyester fiber market were integrated and mapped.
Polyester fiber Market Size: Botton Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Polyester fiber Market Size: Top Down Approach
Data Triangulation:
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Polyester fiber, also known as a synthetic textile material derived from Polyethylene Terephthalate (PET) or other polyester polymers, is renowned for its exceptional versatility, strength, and long-lasting attributes. This fiber is produced via a multi-step process that includes melting spinning, drawing, and polymerization. The ultimate product is the creation of long, continuous fiber strands. These fibers, which are customized to meet precise specifications regarding length, denier (thickness), and other attributes, are widely used in a variety of textile-related applications. These applications include non-woven materials, household textiles, industrial textiles, and apparel. Polyester fiber is much-liked because it is affordable, low maintenance, wrinkle-resistant, and retains color well. Notably, there has been a noticeable trend in favor of sustainability in recent years, and recycled polyester, or rPET, has become more popular as a way to address the environmental issues related to the production of conventional polyester.
Key Stakeholders
- Polyester fiber manufacturers and distributors
- Key application segments for Polyester fiber
- Research and consulting firms
- R&D institutions
- Associations and government institutions
- Environmental support agencies
Report Objectives:
- To estimate and forecast the size of the polyester fiber market in terms of volume (KT) and value (USD million)
- To define, describe, and forecast the size of the polyester fiber market based on form, grade, product type, application, and region.
- To forecast the size of various segments of the market based on five main regions-—Asia Pacific, North America, Europe, the Middle East & Africa, and South America, along with major countries in each region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the polyester fiber market across the globe
- To identify and profile key market players and analyze their core competencies
Available Customizations
Along with the market data, MarketsandMarkets offers customizations according to the specific needs of the companies.
The following customization options are available for the report:
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company's market
Growth opportunities and latent adjacency in Polyester Fiber Market