Global Polyester Fibre Market to be driven at a CAGR of 3.9% in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Global Polyester Fibre Market Price, Share, Size, Trends, Growth, Analysis, Key Players, Outlook, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Polyester Fibre Market, assessing the market based on its segments like source, product type, form, grade, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2023-2028)

Historical Market Size (2020): 53 Million Metric Tonnes
Forecast CAGR (2023-2028): 3.9%
Forecast Market Size (2026): 68 Million Metric Tonnes

The growth of the global polyester fibre market propelled by rising demand from textile industry. The increasing demand for outdoor activities equipment and sports clothing is driving the growth. The growing application of polyester fibres for premium household decor such as mattress, carpets, rugs, and drapes is further expected to push the market. Moreover, the rising export from Asian countries is expected to aid the growth. However, the market witnessed a decline amidst Covid-19 pandemic due to lockdowns affecting supply chains and reduced operations. Meanwhile, the market is projected to return to pre-Covid size and grow over the forecast period.

Industry Definition and Major Segments

Polyester fibres are long chains of polymers of ester groups produced by the reaction of ethylene glycol and terephthalic acid. Polyester fibres find applications across various end use sectors due to their quick drying nature and wrinkle resistance. These fibres are known for properties such as strength, elasticity, and resistance to abrasion thereby utilised in sports and outdoor gear.

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On the basis of source, the market can be segmented into:

Virgin
Recycled
Blend
Others

The market can be broadly categorised based on its product type into:

Polyester Staple Fibre (PSF)
Polyester Filament Yarn (PFY)

Based on form the market can be segmented into:

Solid
Hollow

The market for polyester based on grade is divided into:

PET Polyester
PCDT Polyester

The market on the basis of application is segmented into:

Apparels
Home Textiles
Industrial Textile
Non-Woven Fabrics
Others

The regional markets for polyester fibre include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market Trends

Regionally, the Asia Pacific region is projected to dominate the global polyester fibre market in terms of production. Increasing industrialisation, abundance of raw materials and presence of key players are driving factors for the regional growth. Additionally, the increasing disposable incomes and rapid urbanisation propels the demand for décor goods such as of textiles, carpet, and rugs, among others thereby aiding the growth. Meanwhile, the North America and Europe are expected to witness steady growth over the forecast period owing to the high demand for sports apparels and outdoor activities goods.

Key Market Players

The major players in the market are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, Tongkun Group Co., Ltd, Reliance Industries Limited, Sinopec Yizheng Chemical Fibre Company Limited, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Global Polyester Fibre Market to be driven at a CAGR of 3.9% in the Forecast Period of 2023-2028

IMARC