Global Polyester Fiber Market - Forecasts from 2022 to 2027

The global polyester fiber market is estimated to grow from US$74.092 billion in 2020 to US$123.757 billion in 2027 at a CAGR of 7.60%.

Polyester is known as a synthetic lightweight polymer that is manufactured by purifying terephthalic acid (PTA) from monoethylene glycol (MEG). It is a wrinkle-free polymer with good resistance to weather and light. It can withstand any climatic change. It is used in several sectors, such as home furnishing, apparel, construction, and automotives. One of the major factors driving the growth in the polyester market is the rising demand for recycled polyester staple fiber. Increasing awareness of environment-friendly products spurs the demand for recycled materials. Furthermore, an increasing number of automotive industrial uses of polyester staple fiber, increasing demand for apparel, rising government initiatives in adopting the use of polyester staple fiber as a substitute, and rising construction activities in several regions are a few of the key factors in the rising demand for polyester staple fiber worldwide. Thus, this led to the steady growth in the global polyester staple fibre market in the forecast period.

Due to the outbreak of the COVID-19 lockdown, a large industrial sector in many countries was negatively impacted for a year. Thus, this hampered many polyesters' staple fiber manufacturing and supply. The logistic process, workers' availability, and the supply chain have all been negatively affected for around a year because of the COVID-19 lockdown. This affected the growth of the polyester staple fiber market worldwide. Many countries went into bankruptcy. This curtailed the polyester staple fiber demand till the first half of 2020. Although the polyester staple fiber is increasingly used in the production of garments and clothing, the demand for the same increased again after the second half of 2020 as the restrictions on many industries were taken away by the governments. Hence, post the COVID-19 period, it is estimated that the growth in the market for polyester staple fiber in the forecast period will be moderate.

Rising demand for textiles

The polyester staple fiber has been widely used to make sportswear, intimate wear, and activewear. It is also used as an alternative to cotton due to its unique properties such as its thinness, being cheaper as compared to cotton, and being available in various colours and designs. Moreover, polyester staple fiber is available in various hi-tech varieties. These fibers have antimicrobial properties and work as strong protection against infections and bad odour. Furthermore, it is also available in different forms, and colours, which is why there is an increase in demand for polyester staple fiber. Moreover, consumers are inclined towards sustainable fashion, which is manufactured by a recycling process and is environment friendly. And polyester staple fiber is also made by recycling polyethylene terephthalate, which is known as R-PET, which is made by melting down existing plastic and re-spinning the polyester into new fiber. Due to these few factors, the global polyester staple fiber market is estimated to grow in the forecast period.

Because of the unique ability of polyester staple fiber to withstand climatic change, it has widely been used in spinning yarns, which are weaved or knitted into non-woven fabrics.

An increase in environmental concerns

Polyester has good strength with very low absorbency. It shows resistance to stretching, shrinking, and most chemicals. Polyester staple fiber is easily washable and dries quickly. It is also crisp when wet or even dry. It has been increasingly used in clothing such as shirts, children's wear, suits, and slacks. Most of the population prefers pillows, bedsheets, carpets, sofas, and rugs made of polyester staple fiber. It is also used in the wadding industry as a blend with either chemical bond or BICO low melt fibers.

In August 2021, Reliance Industries Ltd. (RIL) in Andhra Pradesh announced plans to double its recycling capacity of PET by setting up recycled polyester staple fiber (PSF) manufacturing.

In 2021, Kingsport has announced the launch of its new Naia Renew staple fiber for loungewear in the casual wear market. According to Kingsport, the fiber used in these materials is made from 60% wood pulp and 40% recycled waste plastic.

Asia-Pacific is expected to hold a significant share in the global polyester fiber market

Due to increasing demand for several applications in automotive, apparel, and home furnishing in Asian countries such as India, China, and South Korea, it is estimated that Asia-Pacific will dominate the global polyester fiber market in the forecast period. Moreover, changing lifestyles, adoption of western culture, increasing per capita income, and a growing economy are a few more factors that contribute to the rising demand for polyester staple fiber in Asian countries.

Segmentations

By Product

• Solid
• Hollow

By Applications

• Automotive
• Home Furniture
• Apparel
• Others

By Geography

• North America
  • USA
  • Canada
  • Mexico

• South America
  • Brazil
  • Argentina
  • Others

• Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others

• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Others

• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Taiwan
  • Indonesia
  • Others