High Demand from Textile & Apparel Industry to Drive Market
Polyester fiber’s estimated global market size is USD 102.2 billion in 2023, and it is anticipated to reach USD 151.6 billion by 2028. Between 2023 and 2028, this growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 8.2%. The increasing demand for polyester fiber can be attributed to a multitude of significant factors. Firstly, the sheer versatility of polyester fiber renders it a prime candidate for an extensive array of applications, spanning from textiles and attire to industrial and technological uses. Its durability, resistance to creases, and straightforward maintenance have collectively catapulted it to being a favored choice within the fashion and home furnishings sectors. Moreover, polyester's compatibility with other fibers, such as cotton, serves to enhance the performance of textile products. Furthermore, its cost-effectiveness and relative ease of production have firmly established it as the material of choice for manufacturers. In a world increasingly conscientious of the environment, polyester's recyclability and ongoing sustainability initiatives have bolstered its ascent in popularity, as more ecologically-friendly variants continue to emerge. Consequently, the demand for polyester fiber continues to grow across a wide number of industries, propelled by its adaptability, endurance, and eco-conscious innovations.
Textile & Apparel is the largest application segment in terms volume and value.
In 2022, the market for polyester fiber was dominated by the textile & apparel application. It will be the leading the application segment in the global kaolin market and it is expected to keep growing in the near future. Polyester fiber's distinctive combination of attributes, such as exceptional durability, resistance to wrinkles, and color retention, render it a prime selection for textiles and clothing. This adaptability extends to a wide array of items, from everyday attire to high-performance sportswear. The textile and apparel industry has effectively harnessed polyester fiber's potential, creating an array of styles that cater to diverse consumer preferences and fashion trends, making it the industry's undeniable leader. Moreover, the global population's exponential growth, coupled with the rapid urbanization unfolding before us, has given rise to a burgeoning demand for affordable and stylish clothing. Polyester fiber is impeccably positioned to meet this surge in demand, owing to its cost-effectiveness, ease of maintenance, and adaptability.
PET polyester fiber segment is to witness the highest growth rate during the forecast period.
Throughout the forecast period, the PET polyester fiber segment is anticipated to grow most significantly. PET polyester fiber is preferred across many applications due to its versatility and cost-effectiveness. It's used in textiles, clothing, home furnishings, and industry because of its remarkable strength, durability, and resistance to environmental factors. Moreover, it's recognized for its recyclability, which aligns with global sustainability goals. As technology advances and environmental concerns become more important, the demand for PET polyester fiber is expected to keep growing, making it a fundamental component of the global fiber industry.
Solid form of polyester fiber is to be the leading segment during the forecast period.
Solid polyester fiber is the largest segment of global polyester fiber market in 2022. The segment is also expected to witness the highest CAGR during the forecasted period. This is primarily due to its remarkable adaptability and exceptional qualities. Solid polyester fiber can be used in a wide variety of applications, from textiles and clothing to industrial and technical uses, making it highly sought after in today's consumer-driven world. Its reputation is built on its durability and resilience, as it can withstand the test of time and endure wear and tear, which is highly valued in products that need to last and remain strong.
Asia Pacific is the leading market for polyester fiber.
An extensive analysis of the Asia Pacific polyester fiber market has been conducted, taking into account South Korea, China, Japan, India, Australia and the rest of the region. Due to demographic changes, increasing economic conditions in emerging economies, and the continued trend of modernization, this region presents a very promising market for polyester. The Asia-Pacific region's ever-evolving consumer landscape, combined with government support for the textile industry, firmly establishes the region as a significant contributor to the global demand for polyester fiber.
Breakdown of Profiles of Primary Interviews:
- By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
- By Designation- C Level- 50%, Director Level- 30%, and Others- 20%
- By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, Latin America-10%, Middle East & Africa (MEA)-5%,
The report provides a comprehensive analysis of company profiles listed below:
- 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)
Research Coverage
This report covers the polyester fiber market by form, grade, product type, application and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall polyester fiber market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Cost effectiveness), restraints (Competition from substitute products), opportunities (Growth by evolving fashion trends and active lifestyles), and challenges (Microplastic pollution due to excessive use) influencing the growth of the polyester fiber market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the polyester fiber market
- Market Development: Comprehensive information about lucrative markets - the report analyses the polyester fiber market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the polyester fiber market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the polyester fiber market.
Table of Contents
Executive Summary
Companies Mentioned
- Alpek S.A.B. De C.V.
- Barnet
- Diyou Fiber (M) Sdn Bhd.
- Dongguan Yuexin Industrial Co. Ltd.
- Eastman Chemical Company
- Green Group S.A.
- Indorama Ventures Public Company Limited
- Jiangnan Textile (Shanghai) Co. Ltd.
- Kayavlon Impex Pvt. Ltd.
- Märkische Faser GmbH
- Reliance Industries Limited
- Sarla Performance Fibers Limited
- Sinopec Yizheng Chemical Fiber Limited Liability Company
- Stein Fibers Ltd.
- Swicofil AG
- The Bombay Dyeing and Manufacturing Company Limited
- Toray Industries Inc.
- Vnpolyfiber (Vietnam Polyester Staple Fiber)
- Xiamei (Guangzhou) Synthetic Fiber Co. Ltd.
- Zhejiang Hengyi Group Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 236 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 102.2 Billion |
| Forecasted Market Value ( USD | $ 151.6 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
