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Thriving global home décor industry to augment Polyester Fiber Market growth over 2021-2026

05-12-2021 08:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Polyester Fiber Market

Polyester Fiber Market

According to Global Market Insights Inc., polyester fiber market size is projected to surpass USD 190 billion by 2026.

With the growing trend of home furnishing and décor followed by rising disposable income across the world, demand for efficient and durable fiber material has increased enormously. One such popular material is polyester fiber which is massively used for manufacturing different types of fabrics according to the application. Considering the huge popularity of the fiber, global polyester fiber market is anticipated to foresee a commendable growth over the coming years.

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Polyester is known to be the best alternative for other synthetic fibers due to which it has gained immense popularity among apparel companies and carpet makers. Besides, its cost is relatively lower as compared to wool, nylon and polypropylene. In addition, it offers high luster, aesthetic appeal, soft feel and high resistance to stain and wrinkle and can be easily blended with other fibers to improvise the strength and durability. Advent of e-commerce along with flourishing home decor industry is fostering the demand for polyester fibers further.
Same is evident from the estimates of a credible report that the global home decor industry is estimated to record a valuation of more than 850 billion by 2022.

Strategic initiatives by key polyester fiber market players such as Indorama Ventures, Sinopec Yizheng Chemical Fiber, Toray Industries, Alpek, Reliance Industries, Stein Fibers, Jiangsu Sanfangxiang, William Barnet & Son, etc. to gain strong market presence are in turn providing positive growth prospects to the industry. For instance, in 2019, Indorama Ventures, a leading chemical manufacturer, acquired M&G Fibras Brasil based in Brazil’s Cabo de Santo Agostinho area.

According to the company, the Cabo plant produces and delivers Polyester Staple Fiber, with the polymerization capacity of 75,000 tonnes/annum. Reportedly, this acquisition offers the company a unique opportunity to expand its capacity in fiber production and establish strong foothold in Brazil which is South America's largest economy.

An overview of some of the major industry segments that are enhancing the business space is as under:

Based on grade bifurcation, PCDT grade segment is anticipated to observe a robust CAGR of around 9% through 2026. This can be attributed to increasing preference for PCDT polyester fiber owing to its superior resilience and elasticity which makes it suitable for manufacturing home textile and furnishings. Besides, it is also appropriate for making high-end textiles such as curtains, upholstery drapes and furniture covers.

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Based on application bifurcation, home textiles segment had secured a significant market share of over 15% in 2018 and is expected to grow exponentially over following years. The growth can be credited to increasing application of polyester fiber for manufacturing home decor and furnishing products such as quilts, wall coverings, pillow covers, bedsheets, curtains, upholstery and draperies. These products require very high strength and durability as they are used daily in residential establishments, which fuels the demand for polyester fiber for such applications.

Based on the product type, hollow fiber segment is estimated to register a substantial valuation of over 30 billion by 2026 owing to the extensive usage of this fiber as a filler in fiberfill, which in turn is used in quilts, pillows as well as protective on account of its improved resilience and high bulk. In addition, rising demand for winterwear, jackets and coats across extreme cold regions of North America and Europe is fostering the adoption of hollow fiber.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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