Polyester Staple Fiber Market Driving Growth Opportunities By 2025

Popular methods employed by key players in the global polyester staple fiber market to cement their positions are competitive pricing and credit terms. They are also focused on quality of products and offer after-sales support to bring about customer loyalty. Currently the competition in the market is cyclical in nature and in the near future too is not expected to heat up much. This is because capacity is slated to remain moderate and entry of new comers will be less due to high initial investment and lengthy gestation period.

Some of the growth drivers in the market are soaring demand for man-made fiber – of which polyester staple fiber is an integral part – in the textile industry. The growing sales of automobiles and increasing construction activities too are boosting the market. This is because polyester staple fiber are used in car fabrics and also provide temperature stability and facilitate improvement in tensile and shear properties of asphalt concrete.

Proving counterproductive to the market, on the flipside, is the regulated cotton prices in many developing nations which is dealing a blow to the demand for polyester staple fiber.

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As per a report by Transparency Market Research, the revenue in the global polyester staple fiber market will likely become US$34.546 bn by 2025 from US$23.167 in 2016 by rising at a CAGR of 4.1% from 2017 to 2025 to become worth. In terms of volume, it forecasts the market to rise at a 4.6% CAGR to reach 23555 kilo tons from 16528.1 kilo tons in 2016.

Firmness of Polyester Staple Fiber is Boosting Their Demand in Home Furnishings

Some of the key end-use segments in the global polyester staple fiber market are apparel, automotive, home furnishing, filtration, construction, and personal care and hygiene, among others. Among them, the apparel segment accounts for maximum demand. The apparel segment is said to have consumed 3365 kilo tons in 2016 and going forward too is expected to be the dominant driver of demand by rising at a CAGR of 4.2% from 2017 to 2025.

Automotive and home furnishings are other key end-use segments in the global polyester staple fiber market. On account of their cost effectiveness and durability, polyester staple fiber are finding widespread application as car fabrics. They help to keep the cost of the automobile low as well. In terms of volume, the market share of the automotive will forecasted to remain 14% in the foreseeable future.

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Polyester staple fiber is also seeing major uptake for home furnishings. They are used as a filling material in pillows, sofas, and toys. They provide firmness and resilience. The home furnishing segment is predicted to hold on to its 14.5% share in the upcoming years.

Growing Construction Activities Makes Asia Pacific Dominant Market

From a geographical standpoint, Asia Pacific leads the global polyester staple fiber market with a dominant share. Its growth is primarily powered by the rapid urbanization, increasing residential and commercial construction activities, and increasing spending capacity of the people, particularly in the densely populated emerging economies of India and China. Revenue-wise, Asia Pacific held a significant 41.4% share in the global polyester staple fiber market in 2016.

Besides Asia Pacific, Latin America is another key region in the polyester staple fiber market that is expected to make impressive progress in the next couple of years. Europe and North America market, on the other hand, have become saturated and will likely grow at a slower pace.

Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, Toray Industries Inc., China Petroleum & Chemical Corporation, Reliance Industries Limited, and W. Barnet GmbH & Co. KG are to name a few prominent companies operating in the global polyester staple fiber market.

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