$165bn Opportunity by 2024 in the Polyester Fiber Market: Global Key Vendors - Reliance Industries Limited, Indorama Ventures PCL, Toray Industries, Inc.
Asia Pacific, in terms of revenue is a major segment and holds in excess of 65% of the global polyester fiber market share and is poised to increase in the upcoming years. North America and Europe will see growth at a sluggish rate owing to the increasing trends of using organic fabrics for apparels as well as home textiles.
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Polyester fiber market is classified on the basis of products as hollow and solid. The hollow fiber acts as a filler to the clothing and other materials. The segment will witness growth with a substantial CAGR of around 7.5% in the forecast timespan. Solid segment holds a prominent share in global polyester fiber market and will spur to capture a over three-quarters of the industry share in coming years.
The product finds extensive application in curtains, carpets, furniture covers, cushioning, mattresses, and other home textiles. Branded apparels are manufactured using fabric made from polyester fiber to enhance its properties and get wrinkle free and stain resistant garments. The segment holds a prominent share of the polyester fiber market and will exhibit growth with a lucrative rate owing to its increasing demand in the apparels and fabrics.
- Polyester Fiber Market by Application
• Carpets & rugs
• Non-woven fabrics
• Home textiles
- Polyester Fiber Market by Grade
• PET Polyester
• PCDT Polyester
- Polyester Fiber Market by Product
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Polyester is said to have superior quality, firm strength, and with wrinkle-free, tear-resistant, and reduced shrinking properties. These properties help the fiber in maintaining strength once woven in certain cloth. Using of such superior quality material in the apparels, home textiles, furnishing, carpets, and other such products enhances its quality and looks.
Apart from these, the product is also used for insulating and cushioning purposes along with tire reinforcements which further augments the polyester fiber market. With high stain resistance, fabric made from the product is used in making higher quality apparels and clothing series. Extensive use of the product in apparels, home furnishing & decor, mattresses, and other textiles will catalyze the polyester fiber market in the future years.
Some of the substitutes for the product are nylon, cotton, wool, and others. Polyester fiber offers superior properties and is cost-effective than the substitute products making it one of the preferred materials for the textile manufacturers. Increasing use of this cost efficient and superior quality product in fabrics used for industrial purposes will further drive the polyester fiber market in the upcoming years.
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Key industry players operating in the polyester fiber market are Indorama Ventures, Reliance Industries, Toray Industries, Märkische Faser GmbH, Sarla Performance Fibers, Stein Fibers, William Barnet & Son, Kayavlon Impex, GreenFiber International, Silon, Nirmal Fibres, Polyfibre Industries, Swicofil, Diyou Fibre, and Shree Renga Polymers to name a few.
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