Polyester Fiber Market Size to Grow USD 160.1 B Billion by 2032 at a CAGR of 7.1% | Valuates Reports
BANGALORE, India, Jan. 24, 2024 /PRNewswire/ -- Polyester Fiber Market is Segmented By Form (Solid, Hollow), By Grade (Polyethylene terephthalate (PET) Polyester, PCDT Polyester), By Product Type (Polyester Filament Yarn (PFY), Polyester Staple Fiber (PSF)), By Application (Automotive, Home Furnishing, Textile, Filtration, Construction, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Polyester Fiber Market was valued at USD 81.1 Billion in 2022, and is estimated to reach USD 160.1 Billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.
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Major Factors Driving the Growth of Polyester Fiber Market
Polyester is in high demand in the textile sector because of its remarkable durability and affordability, which acts as a significant development engine. Concurrently, the building and automotive industries make substantial contributions to the growth of the market by using polyester fibers in a variety of components because of their robustness and adaptability. Technological developments, especially in the field of polymer science, enable continuous innovation and improve the sustainability and adaptability of fibers.
Additionally, the market is growing because of the worldwide trend towards sustainable practices, which favors polyester fibers manufactured using eco-friendly processes among environmentally concerned customers and enterprises. The market dynamics are further propelled by polyester's cost-effectiveness, affordability when compared to natural fibers, and growing appeal in non-textile applications.
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TRENDS INFLUENCING THE GROWTH OF POLYESTER FIBER MARKET
The increasing demand in the textile sector is one of the main factors propelling the growth of the polyester fiber market. Polyester fibers are commonly utilized in the manufacturing of textiles and clothing items because of their advantageous attributes, which include resistance to wrinkling, preservation of color, and simplicity of maintenance. Polyester is a flexible and affordable material that is rapidly being used by the fashion and clothing industries, which is helping to drive the market's growth.
The polyester fiber market is significantly influenced by the automotive sector since manufacturers use polyester fibers in a variety of automobile components. These fibers are used in carpets, upholstery, seat belts, and other interior components because they are strong, abrasion-resistant, and improve the appearance of automobile interiors.
Polyester fibers are widely used in the construction industry in goods including reinforcing fabrics, roofing materials, and geotextiles. The market gains from the rise in building activity throughout the globe since polyester fibers enhance the performance and durability of these products. The construction industry's use of polyester fibers is further propelled by the need for high-performance and sustainable building solutions.
The expansion of the polyester fiber market is mostly due to technological developments in polymer science and manufacturing techniques. The goal of ongoing research and development is to improve polyester fibers' characteristics so they may be used in a wider range of applications and remain lightweight and sustainable. Technological advancements in manufacturing are also essential for fulfilling changing industry needs and growing the market's potential.
Polyester fibers are widely used in the construction industry in goods including reinforcing fabrics, roofing materials, and geotextiles. The market gains from the rise in building activity throughout the globe since polyester fibers enhance the performance and durability of these products. The construction industry's use of polyester fibers is further propelled by the need for high-performance and sustainable building solutions.
The expansion of the polyester fiber market is mostly due to technological developments in polymer science and manufacturing techniques. The goal of ongoing research and development is to improve polyester fibers' characteristics so they may be used in a wider range of applications and remain lightweight and sustainable. Technological advancements in manufacturing are also essential for fulfilling changing industry needs and growing the market's potential.
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POLYESTER FIBER MARKET SHARE ANALYSIS
In 2022, the worldwide polyester fiber market was dominated by Asia-Pacific. Asia-Pacific's garment business is expanding significantly as a result of the region's fast urbanization, exponential population expansion, and rising disposable income. For this reason, polyester fiber is frequently used to make sportswear, dresses, and t-shirts.
In addition, the Asia-Pacific region's vehicle sector is expanding quickly because of the region's large population base, rising urbanization, and increasing traffic congestion. Because of its exceptional strength and resilience to abrasion, polyester fiber is utilized in vehicle seats, carpets, and other interior components, which in turn increases demand for the material.
In 2022, the solid category led the worldwide polyester fiber market. Solid polyester fiber finds extensive uses in the spinning and mixing of cotton, wool, linen, viscose, and other materials to create garments, carpet yarn, geotextile, and a range of non-woven layers for agricultural applications and moisture insulation. Solid polyester fiber is becoming more and more common in sportswear, swimwear, and designer clothing because of its remarkable stain- and wrinkle-resistant qualities. Unlike many other natural fibers, it is also quite robust and resistant to regular wear and tear.
In 2022, the worldwide polyester fiber market was dominated by the polyester segment made of polyethylene terephthalate (PET). The most widely used thermoplastic polymer resin that exhibits resistance to alcohols, solvents, and moisture is polyester made of polyethylene terephthalate (PET). It is used in textiles, packaging, and the textile sector. In addition, it is used in movies to mold automobile and technical parts.
In 2022, the polyester fiber market worldwide was dominated by the polyester filament yarn (PFY) segment. Because of its great strength, PFY is a good option for the textile sector. It is used in knitting and weaving to create polyester textiles that are used to make consumer goods and furnishings for homes, such as draperies, bedspreads, curtains, and bedding.
The polyester fiber market was led by the textile sector globally in 2022. Polyester fibers are perfect for use in clothes because of their breathable and stain-resistant qualities. Furthermore, because of their extreme tenacity and durability, they are frequently utilized in outerwear. Polyester fiber's hydrophobic quality makes it appropriate for use in jackets and quilted clothing, which are used in moist or humid conditions.
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Key Companies:
- PFY
- Toray Industries Inc
- Barnet
- NAN YA PLASTICS CORPORATION
- Reliance Industries Limited
- Indorama Ventures Public Company Limited
- Polyfibre Industries
- Nirmal Fibres (P) Ltd.
- Stein Fibers, LTD.
- MARKISCHE FASER GMBH
- Sarla Performance Fibers Limited
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- Polyester Staple Fibre Market was valued at USD 20930 Million in 2022 and is anticipated to reach USD 29370 Million by 2029, witnessing a CAGR of 4.9% during the forecast period 2023-2029.
- Cationic Dyeable Polyester Fiber market size is expected to reach USD 2732.4 Million by 2029, growing at a CAGR of 1.2% from 2023 to 2029.
- Low Melt Polyester Fiber Market
- Flame Retardant Polyester Fiber market size is expected to reach USD 223.9 Million by 2029, growing at a CAGR of 3.3% from 2023 to 2029.
- Recycled Polyester Fiber market was valued at USD 7430.4 Million in 2022 and is anticipated to reach USD 11080 Million by 2029, witnessing a CAGR of 5.8% during the forecast period 2023-2029.
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- Biobased Polyester Fiber Market
- Hollow Polyester Staple Fiber market is projected to reach USD 10520 Million in 2029, increasing from USD 7325.5 Million in 2022, with the CAGR of 5.3% during the period of 2023 to 2029.
- Short Cut Polyester Fiber Market
- Cationic Dyeable Polyester Fiber market size is expected to reach USD 2732.4 Million by 2029, growing at a CAGR of 1.2% from 2023 to 2029.
- High Performance Polyester market was valued at USD 1533 Million in 2023 and is anticipated to reach USD 2341.6 Million by 2030, witnessing a CAGR of 6.3% during the forecast period 2024-2030.
- Low Melting Staple Fiber market is projected to reach USD 4955.2 Million in 2029, increasing from USD 3020 Million in 2022, with the CAGR of 7.6% during the period of 2023 to 2029.
- Virgin Polyester Chips Market
- Automotive Polyester Yarn Market
- Epoxy-Polyester Hybrid Market
- Polyester Needle Felt Filter Bag Market
- Low Melt Fiber Market revenue was USD 1920 Million in 2022 and is forecast to a readjusted size of USD 3376.9 Million by 2029 with a CAGR of 8.3% during the forecast period (2023-2029).
- Far Infrared Polyester Yarns Market
- Full Draw Polyester Yarn Market
- Super Bright Polyester Chips Market
- Polyester Spiral Dryer Fabrics market is projected to reach USD 330.1 Million in 2029, increasing from USD 241 Million in 2022, with the CAGR of 4.6% during the period of 2023 to 2029.
- Biodegradable Polyester Yarn Market
- Polyester Textured Yarn Market
- Flexible Polyester Yarn Market
- Polyester Composite Yarn Market
- Recycled Polyester Staple Fibre market size is expected to reach USD 1008.9 Million by 2029, growing at a CAGR of 10.0% from 2023 to 2029.
- Flame Retardant Polyester Staple Fiber Market revenue was USD 179 Million in 2022 and is forecast to a readjusted size of USD 193.4 Million by 2029 with a CAGR of 1.1% during the forecast period (2023-2029).
- Polyester Fiber Textile - Global Market Insights and Sales Trends 2024
- Polyester Spun Yarn - Global Market Insights and Sales Trends 2024
- Unsaturated Polyester Resins (UPR) Market
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