Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of "Polyester Fiber Market – which is forecasted from 2022 To 2027”.
The prime factor driving the Polyester Fiber market's growth is because of the burgeoning construction industry, as well as the plethora of buildings and houses, which is expected to lead to a rise in the market for home furnishings which indeed is predicted to boost the growth for the polyester fibre market over the forecasted period.
As per the report, the Polyester Fiber Market is expected to grow at a CAGR of 7.60% to reach US$123.757 billion by 2027, from US$74.092 billion in 2020.
Polyester is manufactured commercially using a technique known as melt spinning, in which raw materials are heated to a spinning mass and afterwards pushed into spinnerets. Polyester fibres have incredible strength and are chemically inert. They can also endure adverse environmental conditions and are durable to wear & tear. These fibres are also hydrophobic, which allows them to dry faster after rinsing. Polyester fibres are widely used in textile manufacturing owing to their advantages.
Furthermore, it has extensive application in household furnishings, automobiles, and the health sector. The polyester fibre market is predicted to be driven primarily by increasing demands for rugs and carpets in the commercial and residential sectors. Furthermore, an increase in the demand for nonwoven materials and products and rising urbanisation and the home décor industry are expected to drive the growth of the polyester fibre industry. Other significant factors which are expected to fuel the development of the polyester fibre market include advancements in the global fashion industry, rising demand for products from various end-use sectors such as household, automotive, hospitals, and electronics, and an increase in the number of implementations of hollow polyester fibres in clinical uses.
However, raw material costs uncertainty and the existence of stringent rules governing the production and waste of polyester are some of the important parameter that are expected to stymie market growth.
Based On Grade, The polyester fiber market is segmented into PET and PCDT Grades based on Grade. The PET Grade polyester fiber is projected to hold a significant market share compared to PCDT due to its strength and quality factors. The PET grade polyester fiber is generally used for attaining the wrinkle-free and stain resistance characteristic due to its PET blending nature. It is used in the manufacturing of high-quality fabrics.
Based on Product, the market is distributed into staple and filament polyester fiber. The Polyester staple fiber is small in length, up to 10 cm, whereas Polyester Filament fiber is 1000 m long. The availability of filament fiber in more than one form is expected to drive the polyester filament fiber segment in the polyester fibre market globally.
Based On Form, the Polyester fiber is fragmented into Solid and Hollow form Polyester fibres. Fibre Polyester Hollow fibres are widely used to shield and improve the strength of pillows, quilts, nonwovens, and duvets. This fibre is also referred to as 2-dimensional hooked hollow fibre in polyester.
Based On application, the polyester fibre market is segmented into Automotive, Home Furniture, Apparel and Others. Polyester fibres are widely used in the apparel industry owing to their superior properties, such as excellent wrinkle resistance, high elasticity, and shape retention. Major Players in the apparel sector strive to enhance their products and services to meet customer requirements. Furthermore, with increasing disposable incomes and a population boom in diverse emerging economies, the requirement for upgraded apparel is expected to skyrocket. Furthermore, different colour options and customised shapes and designs find wider usage in the world of fashion.
Based On Geography, the polyester fiber market is categorized into North America, South America, Asia-Pacific, Europe, Middle East, and Africa. The Asia Pacific region's fashion industry in emerging economies such as China, India, Japan, and Malaysia is estimated to expand. Increased spending on home remodelling operations to enhance the home's appearance will pave the way for home furnishings. Due to its large production capability, China is expected to be the fastest-growing market during the forecasted period. Rising per capita incomes in Asia Pacific countries such as India, China, Vietnam, and Malaysia are expected to drive the market by raising the region's absorption of polyester fibres.
Furthermore, various polyester fibre industry players in the region will propel the market further during the projected timeline. The United States and Europe are importers of polyester fibres and are expected to grow steadily throughout the observation period. These factors will have a cumulative effect on the overall value of the polyester fibre market during the forecast period.
As the part of the report, the major players operating in the polyester fiber market, that have been covered are Reliance Industries Ltd., Alpek S. A. B., Bombay Dyeing, China Petroleum Corporation, and Far Eastern New Century Corporation, Huvis Corporation, Indorama Corporation, Shubhalakshmi Polyester Ltd.
View a sample report or purchase the complete study https://www.knowledge-sourcing.com/report/global-polyester-fiber-market
This analytic report segments the polyester fiber market on the following basis
- By Grade
- By Product
- By Form
- By Applications
- Home Furniture
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- North America