Polyester Staple Fiber Market Significant Growth During 2017 – 2025
A report by Transparency Market Research (TMR) foretells the growth trajectory of the market over the period from 2017 to 2025. The market is expected to grow at a steady CAGR of 4.1% over the forecast period. The value of the market stood at US$23.167 bn in 2016 and is likely to elevate to a figure of US$34.546 bn by the end of 2025. On the basis of end-user, apparels are anticipated to dominate the market, continuing their streak of supremacy from 2016. Based on geography, the prominence of the Indian and Chinese region is expected to place the market in Asia Pacific at the top of the table. The plush levels of industrialization and a growth in spending capacity are amongst other factors that escalate market growth in the region.
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Growing Constructions Worldwide Increment Demand
Man-made fiber has attracted a significant demand within the market due to their usage across several sectors. Apparels are the primary industry wherein fibers are indispensable, and hence, the growth of the apparels industry also commands the growth of the market. The manufacturing of furnishing items such as sofas, pillows, and toys requires the use of polyester staple fibers, thus, playing an important role in driving demand. In recent times the demand for personal care products has seen an unprecedented upsurge. Furthermore, the proclivity of the masses towards hygiene has also been a defining factor for the market. As the aforementioned industries grow, the market for polyester staple fiber is projected to rise to new levels. Constructions have been an inherent part of human settlements, and have evolved over time. In the contemporary scenario, the entire constructions industry deploys these fibers for a variety of uses. Owing to this factor the market is expected to gain momentum in the coming years.
Constructions Industry Propels Market Growth in Asia Pacific
Asia Pacific has seen rapid advancements in technology and constructions so much so that the region is now eyed by major market players. The construction activities that have offset in the region have taken the entire world by storm, thus, offering commendable growth opportunities for several industries. All of these factors are projected to play a central role in accentuating the market in Asia Pacific. Latin America is also poised to exhibit a positive growth rate over the forecast period. North America and Europe are projected to register a steady growth rate.
The review is based on TMR’s report titled, “Polyester Staple Fiber Market (Type – Solid (Semi-dull Optical White, Bright Optical White, Black Dope Dyed, Colored Dope White, Others Semi-dull, and Others Bright) and Hollow; Origin – Virgin, Recycled, and Blend of Virgin and Recycled; End User – Apparel, Automotive, Home Furnishing, Filtration, Construction, and Personal Care and Hygiene) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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