Polyester Fibers Market Overview
A large number of advantages associated with polyester fiber, such as low cost, high strength and elasticity, and recyclability, make it a favorable choice in the textile industry. It is a synthetic fiber formed by a chemical reaction between acid and alcohol. The large application areas, ranging from heavy-duty industrial application such as conveyor belts to apparels, help polyester fiber to make its strong presence in the textile industry.
The global polyester fibers market is bifurcated into PET and PCDT, based on grade. Between the two, the PET category accounts for a substantial share in the market. High strength of PET comparatively to PCDT, along with its ability to be easily blended with other fabrics, in order to make clothes wrinkle free, makes PET a preferable choice among textile-producing companies. Further, easily availability of PET and its vast applications are also driving the demand for PET-based polyester fibers.
The polyester fibers market is classified into apparel, home furnishing, industrial, and non-woven, on the basis of application. Among these, the apparel category holds a sizeable market share. Low-maintenance of polyester fabric clothes, as compared to cotton, is one of the reasons for the large consumption of polyester fibers in apparel manufacturing. Further, wrinkle free, shorter drying period, and high strength of polyester fibers are propelling their demand in apparel application.
Geographically, the Asia-Pacific (APAC) region holds a significant share in the polyester fibers market. Presence of large population base and fast-developing economies, rapid urbanization, and increasing disposable income of people in the region are providing growth to the regional textile industry, as a result of which, a high-volume demand for polyester fibers is arising for the manufacturing of clothes. Further, as labor cost and raw material cost in APAC are low in comparison to western economies, the region is witnessing high investment in the textile industry, which, in turn, drives the demand for polyester fibers.
Polyester Fibers Market Dynamics
Drivers
The growing textile industry globally, owing to the rising population and frequently changing fashion trends, is driving the demand for clothing. Since, polyester is the most widely used fiber, therefore with the increasing textile industry, the demand for polyester is expected to rise in foreseeable future. Further, surging usage of e-commerce platforms for the purchase of clothes, due to various options in a single platform, shorter delivery time, and replacement option, is also driving the clothing market, thus, resulting in higher demand for polyester fibers.
Restraints
Fluctuating raw material price mainly for those products that are obtained from crude oil could provide some hindrance to the polyester fibers market. Further, polyester fiber is backward integrated with PET polymer production and since many governments have imposed several regulations for the adequate use of PET polymers, which may affect the market in a negative way. For instance, the Government of Maharashtra, India, implemented the ban on some categories of plastic and thermocol. This can lead to less production of PET, resulting to shortage of PET along with high price, which would increase the price of polyester fibers. As a result, the industry would start using other substitute products in place of polyester fibers.
Polyester Fibers Market Competitive Landscape
Some of the major companies operating in the global polyester fibers market include Reliance Industries Limited, Indorama Ventures Public Company Limited, William Barnet and Son LLC, Sinopec Yizheng Chemical Fibre Co. Ltd., Nan Ya Plastics Corporation, and Far Eastern New Century Corporation.
The study provides the historical as well the forecast size of the polyester fibers market.
Polyester Fibers Market Size Breakdown by Segments
The polyester fibers market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Product Type
- Polyester Staple Fiber (PSF)
- Polyester Filament Yarn (PFY)
Based on Grade
- Polyethylene Terephthalate (PET)
- Poly-1, 4-Cyclohexylene-Dimethylene Terephthalate (PCDT)
Based on Form
Based on Application
- Apparel
- Home Furnishing
- Industrial
- Non-Woven
Geographical Analysis
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific (APAC)
- China
- India
- Japan
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
