Vietnam Polyester Fabric Market | Analysis, Share, Size, Growth, Value, Industry, Companies, Revenue, Forecast, Outlook & Trends: Market Forecast By Type, By Applications And Competitive Landscape

Vietnam Polyester Fabric market witnessed growth during past years owing to the trade tensions between China and major export markets like the US, along with supply chain disruptions caused by COVID-19 border restrictions, which have led sportswear companies such as Nike and Adidas to diversify their supply chains to include Vietnam. According to the United Nations Conference on Trade and Development (UNCTAD), Vietnam attracted FDI capital amounting to US$1.55 billion for 184 projects in the garment and textile industry during the first 11 months of 2019. Moreover, the adoption of Industry 4.0 and digitalization is revolutionizing Vietnam’s apparel sector, as companies increasingly implement new technologies to maintain their competitive edge.

According to the research, Vietnam Polyester Fabric Market revenues and volume are projected to grow at a CAGR of 7.9% and 6.1% respectively, during 2024-2030F. The nation aspires to fully recover its tourism sector by 2025, targeting 18 million international visitors, with a long-term goal of attracting 35 million foreign tourists by 2030. Capitalizing on this opportunity, hoteliers like JW Marriott International Inc. and Accor are planning to launch numerous projects in the upcoming years. Consequently, this increase in demand for home textile products, including bedding, curtains, sofa fabrics, carpets, and rugs, is expected to boost the demand for polyester fabric in the coming years.

Further, the Urban Development initiative by the Vietnam government is expected to significantly boost urbanization in the coming years. Notably, the urban population rate is projected to increase from 38 percent in 2021 to 45 percent in 2025 and to 50 percent by 2030. Additionally, the number of urban areas is set to rise from 888 in November 2022 to 1,200 by 2030. This rapid urbanization is anticipated to drive growth in revenue for Vietnam's home textile industry, spurred by a rising demand for home textile products such as carpets, rugs, and more. Consequently, there would be a growing demand for polyester fabric in these applications during forecast period.

Market Segmentation by Types

PET type would witness higher growth rate in Vietnam polyester fabric industry during forecast period as the country continues to position itself as a manufacturing hub and export destination, the demand for high-quality, cost-effective materials like PET fabric is expected to soar.

Market Segmentation by Application

In the coming years, apparels are expected to grow at a faster pace in the Vietnam polyester fabric market, driven by the expanding retail landscape and the proliferation of e-commerce platforms. This facilitates the accessibility of polyester apparels to a wider consumer base.

Market Segmentation by Polyester Content

In the Vietnam polyester fabric market, fabrics with a polyester content exceeding 40% dominate the market, accounting for the major volume share owing to their wide range of applications, from apparel to home furnishings and industrial uses.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Polyester Fabric Market Overview
• Vietnam Polyester Fabric Market Outlook
• Vietnam Polyester Fabric Market Forecast
• Historical Data and Forecast of Vietnam Polyester Fabric Market Revenues and Volume, for the Period 2020-2030F
• Historical Data and Forecast of Vietnam Polyester Fabric Market Revenues and Volume, By Type, for the Period 2020-2030F
• Historical Data and Forecast of Vietnam Polyester Fabric Market Revenues, By Applications, for the Period 2020-2030F
• Historical Data and Forecast of Vietnam Polyester Fabric Market Volume, By Polyester Content, for the Period 2020-2030F
• Market Drivers and Restraints
• Key Performance Indicators
• Price Trend Analysis
• Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations
• Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• PET
• PCDT

By Application

• Carpets & Rugs
• Non-Woven Fabrics Fiberfil
• Apparels
• Home Textiles
• Others

By Polyester Content

• > 90% (Upto 100%)
• >70% (Upto 90%)
• >40% (Upto 70%)
• 40% and Below