The global polyester fiber market was valued at approximately USD 102.2 billion in 2023 and is anticipated to achieve a projected value of USD 151.6 billion by 2028, reflecting a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2023 to 2028. The growing demand for polyester fiber can be attributed to several key factors. First of all, polyester fiber has exceptional adaptability, which makes it a great option for a variety of applications, including industrial and technical as well as textile and clothing. It is a well-liked option in the home furnishings and fashion industries due to its resilience to wrinkles, longevity, and ease of care. Furthermore, polyester improves the performance of textiles by blending well with other fibers, like cotton.
Prominent players, including 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). These market leaders have strategically prioritized growth efforts like mergers and acquisitions, collaborations, expansions, investments, and divestitures to help them expand into previously undiscovered and attractive markets.
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Reliance Industries Ltd. (India)
Reliance industries holds a prominent position as a 2nd top polyester fiber supplier within various applications, including textile & apparel, home furnishing, automotive and others. With operations in significant nations like India, China, and the US in the polyester fiber market, the company continues to have a global footprint. The company's operations encompass the entire polyester value chain, including the production of raw materials like purified terephthalic acid (PTA) and monoethylene glycol (MEG), as well as the manufacturing of polyester filament yarn (PFY), polyester staple fiber (PSF), and various other polyester products. The company lays a great emphasis on carrying out acquisitions as a key part of its strategic growth plan, which helps it gain a competitive edge in the polyester fiber industry. For instance, in September 2022 company acquired shubhalaxmi polyester ltd. in USD 193.3 million. The company acquired subhlaxmi’s both manufacturing facilities situiated in Dahej and Silvassa.
Indorama Venture Public Company Ltd.
Indorama venture holds a prominent position among the key players in the polyester fiber market. The company was established in 1994 and since then the company operates a vertically integrated polyester business, which means it is involved in the entire polyester value chain. The company produces key raw materials like purified terephthalic acid (PTA) and monoethylene glycol (MEG) and uses these to manufacture various polyester products. The company has made large expenditures in recycling technology and procedures to create polyester products that are sustainable. The business encourages the use of recycled PET (rPET) and works to reduce plastic waste as part of the circular economy. Through acquisitions and expansion initiatives, Indorama Ventures has increased its market share in the polyester fiber industry. For instance, December 2019 the company acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, California, USA. The facility produces Recycled Polyethylene Terephthalate (rPET) Flakes.
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
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