Global Polyester Fiber Market to Expand at 8.60% CAGR by 2019 Propelled by Growth in the Building and Construction Sector

Transparency Market Research, in a report titled “Polyester Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, states that the value of the global polyester fiber market is anticipated to rise from US$62.4 bn in 2012 to US$110.8 bn in 2019, driven by growth of the residential sector and a subsequent rise in building constructions, and surging demand for nonwoven fabrics and materials. The polyester fiber market is projected to expand at an 8.60% CAGR from 2013 to 2019.

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On the basis of product, the polyester fiber market is bifurcated into hollow fiber and solid fiber. Owing to wide application in sectors such as automotive, aviation, healthcare, manufacturing, marine, and apparel, solid fibers account for a share of more than 80.0% in the overall polyester fiber market and the segment is also anticipated to emerge as the most rapidly developing product category by 2019. Even though hollow fibers hold the smaller portion in the polyester fiber market, their rising demand in nonwoven applications is anticipated to present new opportunities for growth.

On the basis of application, the polyester fiber market is segmented into nonwoven fabrics, carpets and rugs, fiberfill, and others such as home textiles, apparel, and industrial. In 2012, fiberfill formed the largest application segment and is projected to expand at the second fastest pace during the forecast period owing to increased demand for insulation materials. Carpets and rugs, on the other hand, are anticipated to expand at the highest growth rate of 6.0% from 2013 to 2019 owing to the rising demand for polyester-based carpets.

On the basis of region, the global polyester fiber market is divided into Europe, North America, Asia Pacific, the Middle East and North Africa, and the Rest of the World. Asia Pacific has emerged as the dominating regional segment of the polyester fiber market and this trend is anticipated to continue over the next three years. By 2019, Asia Pacific is projected to account for a share of more than 85.0% in the global polyester fiber market, driven by the rising in consumer disposable income, rapid industrialization, and substantial GDP growth. Countries within this region possess several potential avenues for future growth.

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A prominent feature of the polyester fiber market report is its evaluation of the competitive landscape. The companies featured in the polyester fiber market study are Indorama Ventures Public Company Limited, Alpek S.A.B de C.V, Sinopec Yizheng Chemical Fibre Company Limited, Far Eastern New Century Corporation, Reliance Industries Limited, Nan Ya Plastics Corporation, Jiangsu Sanfangxiang Group, Zhejiang Hengyi Group Co. Ltd., and Mossi Ghisolfi Group. According to the report, the presence of several large and small manufacturers has made the competitive landscape of the polyester fiber market rather fragmented.

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