Polyester Fiber Market Size By Grade (PET, PCDT), By Product (Solid, Hollow), By Application (Carpets & Rugs, Non-Woven Fabrics, Fiberfill, Apparels, Home Textiles, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026
Polyester Fiber Market is expected to exceed USD 190 billion by 2026. Growing incorporation of polyester fiber in home textiles and apparel coupled with rapid urbanization is the chief factor bolstering the growth of the market.
Some major findings of the polyester fiber market report include:
Booming home décor and apparel industry in the developing countries across the world
PET grade garnered the dominant position in 2018 due to its superior strength than CDT grade coupled with high resistance to stain and wrinkle
Solid fiber held the largest market share in 2018 on account of its cost-effectiveness, softness, and superior durability and tensile strength
Apparel is projected to be the fastest-developing application segment owing to rising adoption of polyester in fast-fashion and garment sector
Major players operating in the polyester fiber market are Reliance Industries Limited, Sinopec and Zhejiang Hengyi, Tongkun Group, and Nan Ya Plastics.
Companies are engaged in acquisition, agreements, and investment for expanding their business operations and to gain competitive advantage
Polyester is considered as a suitable alternative to other synthetic fibers and has gained popularity among carpet makers and apparel companies owing to its superior characteristics. It is lower in cost than wool, polypropylene, and nylon. Also, it possesses high luster, soft feel, aesthetic appeal, and high resistance to wrinkle and stain. Moreover, it can be blended easily with other fibers to enhance durability and strength. Furthermore, advent of e-commerce coupled with booming home décor industry will augment the product consumption. For instance, the global home décor market is projected to surpass 850 billion by 2022 at a healthy CAGR of 4%.
PCDT grade is estimated be the fastest-developing segment with a CAGR of nearly 9%. This is largely due to its exceptional elasticity and resilience, which make it a fit in the manufacturing of home textile and furnishings. Also, it is well suited for making high-end textiles such as upholstery, curtains, drapes, and furniture covers. Hollow fiber segment is expected to reach over 30 billion by 2026. This fiber typically is used as filler in fiberfill, which is further utilized in pillows, quilts, and protective clothing because of its high bulk and good resilience. Moreover, growing demand for jackets, winterwear, and coats in the extreme cold regions of Europe and North America, further drives the market growth.
Home textiles segment gained a considerable market share above 15% in 2018. Home décor and furnishing products include wall coverings, quilts, pillow covers, upholstery, bedsheets, curtains, and draperies. These products demand exceptional strength and durability as it is used daily in residential sector, which can be catered by polyester fiber.
Prominent industry players in polyester fiber market includes Mossi Ghisolfi, Indorama Ventures, Toray Industries, Zhejiang Hengsheng Chemical Fibre, Stein Fibers, Alpek, Sinopec Yizheng Chemical Fiber, Nan Ya Plastics Corp., Reliance Industries, Jiangsu Sanfangxiang, Swicofil AG, Far Eastern New Century Corp, William Barnet & Son, GreenFiber International, and Zhejiang Hengyi Petrochemical. Acquisitions, investment in R&D, and agreements are key strategies adopted by the product manufactures to gain profitability and significant market position in the industry.
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