Press release
Polyester Fiber Market Projected to Register CAGR at 8.35% CAGR Till 2023 | Global Key Players – Tongkun Group Co., Ltd., Reliance Industries Limited, Zhejiang Hengyi Group Co., Ltd, Shenghong Corp, Xin Feng Ming Group, Indorama Ventures Public Company
Polyester fibers are long chain synthetic polymers that are manufactured through chemical reactions between an alcohol and acid, mainly ethylene glycol and terephthalic acid. Polyester yarns and other fabrics made from polyester fibers exhibit high strength, elasticity, and are resistant to wrinkle and abrasion. They possess superior physical properties such as low cost, excellent recyclability, resistance to shrinking and aggressive chemicals; and are hydrophobic in nature. They are also used to provide insulation in the form of hollow fibers.
Based on form, the global polyester fiber market has been categorized into solid and hollow. The solid segment dominated the global market in 2017 owing to its extensive applications in home furnishing, textile products, non-woven fabrics, and apparels. The hollow segment is expected to regsiter for the highest CAGR in the coming years due to its growing consumption in fiberfill which is widely used in pillows; and quilts and protective coating due to its warmth.
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By product, the global polyester fiber market has been bifurcated into polyester staple fiber (PSF) and polyester filament yarn (PFY). The PSF segment is expected to be the largest and is estimated to be the fastest-growing segment during the forecast period owing to its high versatility and has diverse applications in textile products, fiber filling, home furnishing, filtration, and automotive among others.
On the basis of grade, the global polyester fiber market has been segmented into polyethylene terephthalate (PET) polyester and Poly-1, 4-cyclohexylene-dimethylene terephthalate (PCDT) polyester. The PET segment held the largest market share in 2017 owing to its superior strength than PCDT and its easy blending property with other materials for the production of wrinkle free and stain resistant apparels and textiles. The PCDT segment is expected to grow at the highest CAGR during the forecast period due to its superior elasticity and resilience and increasing consumer applications in interior decoration, furniture covering, and draperies.
Based on application, the global polyester fiber market has been classified into carpets and rugs, apparel, industrial and consumer textiles, household and institutional textiles, non-woven fabrics, and fiberfill. The apparel segment dominated the market in 2017 owing to its large demand in cotton-substituted clothing in sportwear and other textile clothing possessing antimicrobial properties. The fiberfill is expected to be the fastest-growing segment during the review period owing to the growing applications in pillows and quilts; and in audio speakers for its acoustic properties.
Market Segmentation
The global polyester fiber market has been segmented based on form, product, grade, application, and region.
On the basis of form, the global polyester fiber market has been bifurcated into solid and hollow.
Based on product, the global polyester fiber market has been classified into polyester staple fiber (PSF) and polyester filament yarn (PFY).
By grade, the global polyester fiber market has been divided into polyethylene terephthalate (PET) polyester and Poly-1, 4-cyclohexylene-dimethylene terephthalate (PCDT) polyester.
On the basis of application, the global polyester fiber market has been categorized into carpets and rugs, apparel, industrial and consumer textiles, household and institutional textiles, non-woven fabrics, and fiberfill.
The global polyester fiber market has been analyzed across five major regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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Regional Analysis
Geographically, the global polyester fiber market has been studied across the five regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The Asia-Pacific market held the largest market share in 2017 and is projected to grow at the highest CAGR in the following years owing to its growing textile industry, rising furnishing and flooring activities, and growing constructional activities in the region. China is the major contributor in the region due to growing purchasing power, cost effective labor, rapid industrialization and residential complexes. India, Japan, Taiwan, and South Korea are other regional contributors. Moreover, presence of major companies in the region such as Reliance Industries Limited, Tongkun Group Co., Ltd., and TORAY INDUSTRIES, INC. further propels the regional market growth.
Competitive Analysis
Tongkun Group Co., Ltd. (China), Reliance Industries Limited (India), Zhejiang Hengyi Group Co., Ltd (China), Shenghong Corp (Singapore), Xin Feng Ming Group (China), Indorama Ventures Public Company Limited (Thailand), William Barnet and Son, LLC (US), GreenFiber International S.A. (Romania), Sarla Performance Fibers Limited (India), Märkische Faser GmbH (Germany), Polyfibre Industries (India), and TORAY INDUSTRIES, INC. (Japan) are some of the key players operating in the global polyester fiber market.
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