Polyester Fiber for Latest Fashion

polyester fiber market

The Global Polyester Fiber Market was worth US$74.092 billion in 2020 and is projected to expand at a 7.60% CAGR over the predicted period to reach US$123.757 billion by 2027.

The industry is predicted to rise due to increased construction activity around the world. Polyester fibers are manufactured from either recycled or virgin polyethylene terephthalate. It has become the most widely used fiber in the textile sector due to its low cost, high strength,  flexibility,  easy durability, compostability, elasticity, and great damage tolerance, wrinkles, and fungus. Hydrophobic and quick-drying, these fibers can also be employed as insulating material in the type of hollow fibers. It can withstand greater abuse than linen and other textiles, and it maintains its shape even in inclement conditions.

Rising Technological Demand in Industries

The rise in demand is leading for the market growth for carpets and rugs, as well as mattresses, in both commercial flooring and residential and solutions, encourages global market expansion. In addition, rising consumption from a variety of end-use applications including as appreals, homes, hospitals, automobiles, electronics, and infrastructure is expected to propel the market forward. The growing use of hollow polyester fibers in medical applications provides market participants with numerous prospects. Furthermore, technical developments and expanding R&D facilities present market participants with profitable chances. Polyester fibers are more expensive than other materials like cotton and wool, posing a significant barrier for manufacturers. The rapid progress in the global fashion business, as well as the developing trends in construction activity around the world, are combining their efforts with rapid urbanisation and the home decor sector, creating tremendous prospects for the market. With the excellent qualities of polyester fibers, there is a surge in quantity demanded from numerous end-use industries such as hospitals, residences, cars, and electronics.

Acceptance of PET-Grade

PET-grade polyester fiber is extensively used in carpets, rugs, and household textile products due to its excellent mechanical strength, stiffness, and ductility. The growth of the furniture company, which is quickly adapting to market changes by making anti-static and anti-abrasive carpets and rugs, the expansion of the e-commerce sector, the modernization of manufacturing facilities, and shorter lead times. Furniture and home furnishings sales increased by 7.2% in January 2022, according to the US Department of Commerce. PET-grade polyester fiberfill can be used to sleeping bags, stuff pillows, and cushion paddings.

Lack in Durability Owing the Growth of PCDT

The lacks the durability of PET grade, and PCDT fiber has a reduced market share. This grade, on the other hand, has higher durability and snap, making it a good choice for house adornment. It is widely used in the manufacture of draperies, curtains, and articles of furniture and upholstery covers. Polyester fiber has a wide range of uses in the infrastructure and construction industries, which will likely boost the polyester market in the next few years. The polyester market is growing because to rising demand for high quality flooring carpet in residential and non-residential buildings from nations such as North America, China, and Asia.

High Performance of the Product

The shift in consumer preferences for due to its durability, cost-effectiveness, and climate materials, solid fibers are expected to dominate the sector and will experience significant expansion. Polyester fiber market share will be driven by rapidly expanding demand for solid fibers due to its diverse uses in home decor products, garments, and high-end materials over the projected period. Solid fibers also have strong tensile strength, are readily available, have even fiber weaving, and are well-finished.

Application According to Demand

The increased demand for sports apparel, quick-dry clothes, and outdoor activity equipment such as tents, waterproof liners, air mattresses, among other things, is propelling the world economy for polyester fiber forward. Furthermore, due to its abrasion resistance, better strength, and anti-wrinkle features, polyester fiber is becoming more popular than cotton, which is expected to boost market growth. Furniture and home furnishings sales increased by 7.2% in January 2022, according to the US Department of Commerce.  The market is expected to develop significantly due to rising consumption from various industries like as automobiles, electronics, and hospitality. Furthermore, the growing use of polyester fiber in commercial and household products such as drapes, mattresses, carpets, and rugs is likely to propel the industry forward.

China and India to Lead the Market

Over the projection period, Asia Pacific is expected to be the major shareholder in the worldwide polyester fiber industry. The regional market is being driven by the rising urbanisation and industrialisation of emerging countries such as Malaysia and China. Furthermore, rising consumer in the region has growing demand for greater living standards, which has aided the market. The presence of major players in China, Vietnam, and India is projected to drive regional development. Factors such as the abundance of raw resources and the expanding demand for textiles, carpets, home furnishing and decorative products in the region are driving the industry even further. The expanding polyester fiber exports from Asia Pacific and the growing region flooring and furnishing industries

Insight of COVID-19

Due to a low worker force, industrial facility closures, and supply disruptions around the world, the recent COVID-19 epidemic has had a negative influence on market size. Polyester fiber is a manufactured material made from crude oil refining. Crude oil output was destroyed as a result of the pandemic, which had a serious effect on the worldwide polyester fiber industry. Due to competition for Ultraviolet light and antiseptic clothes around the world, the situation has been improving steadily since the last quarter of 2020. This will almost certainly prevent the global expansion of the polyester fiber market from expanding the use of industry resources in creating new applications on a global scale. The COVID-19 virus’s widespread outbreak and rapid dissemination caused a significant drop in end-user industries, particularly the textiles, which reduced market demand and hence negatively impacted the market. The virus had a significant impact on China, a key source of polyester fiber, causing a significant market disruption.

Global Polyester Fibre Market Scope:

Report Metric Details
 Market size value in 2020 US$74.092 billion
 Market size value in 2027 US$123.757 billion
 Growth Rate CAGR of 7.60% from 2020 to 2027
 Base year 2020
 Forecast period 2022–2027
 Forecast Unit (Value) USD Billion
 Segments covered Grade, Product, Form, Applications, And Geography
 Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Reliance Industries Ltd., Alpek S. A. B., Bombay Dyeing, China Petroleum Corporation, Far Eastern New Century Corporation, Huvis Corporation, Indorama Corporation, Shubhalakshmi Polyester Ltd.
 Customization scope Free report customization with purchase