The global polyester staple fiber market is expected to reach USD 43.39 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the growing use of polyester staple fibers amongst end-use application.
The surging demand for environment-friendly products is persuading several companies to implement sustainable practices to ascertain the well-being of users, along with the environment. This has resulted in a growing inclination to switch from petroleum-based non-biodegradable synthetic fibers, including polyester to biodegradable and renewable synthetic fibers produced from natural resources. This is expected to boost the demand for polyester staple fibers in the upcoming years.
Top Companies Operating in the Global Polyester Staple Fiber Market:
Alpek SAB de CV, Toray Chemical Korea, Reliance Industries Ltd., Huvis Corporation, Xinda Corporation, Indorama Corporation, China Petroleum, Bombay Dyeing, Petrovietnam Petrochemical and Textile Fiber Joint Stock Company, and W. Barnet GmbH Co. KG.
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Further key findings from the report suggest
- By grade, polyethylene terephthalate (PET) held a larger market share in 2018 and is likely to grow at a rate of 8.2% in the forecast period. The market dominance of this grade is owing to the offering of high strength and lightweight properties.
- By product type, solid polyester staple fiber contributed to a larger market share in 2020. It has a substantial visual appeal, which finds usage in apparel, home furnishings, nonwoven fabrics, and other products. Also, it possesses exceptional tensile strength, high durability, and good finishing.
- By application, home furnishing held the second-largest market share in 2020 and is expected to grow at a rate of 7.2% in the forecast period. Polyester staple fibers are used home furnishings, which comprises upholstery, curtains, carpets, and sheets. Polyester fiberfill is frequently used in furniture and pillows as stuffing.
- The market in the Asia Pacific region contributed to the largest market share in 2020 and is likely to grow at a rate of 8.1% in the forecast period. The market dominance of the APAC region primarily owes to the growth of the textile and automotive industries in the region.
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The Polyester Staple Fiber market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Polyester Staple Fiber market.
The global Polyester Staple Fiber market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Raw Material Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Polyethylene Terephthalate (PET)
- Poly-1, 4-Cyclohexylene Dimethylene (PCDT)
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Home Furnishing
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