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

Published Date: Dec 2019  |  Report ID: GMI2120  |  Authors: Kiran Pulidindi, Soumalya Chakraborty

Report Format: PDF   |   Pages: 214   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Polyester Fiber Market size valued at USD 100 billion in 2018 and will grow by a CAGR of more than 8% from 2019 to 2026.
 

Polyester Fiber Market

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Rising apparel import in the Europe region is likely to positively influence the growth of polyester fiber market in coming years. Expanding fashion industry and rising adoption of polyester fiber in apparel and garments are the major factor propelling the market growth. Digitalization of the value chain, shorter lead times, and changing fashion trends are expected to increase the consumption of polyester fiber. This can be attributed to its excellent resistance to wrinkle, stretching, abrasion, chemicals, and shrinking, which makes it ideal for short turnarounds of clothing. Also, it exhibits high strength, quick drying, and ease of washing, which are required attributes in the fashion industry. Moreover, radical shift of high growth apparel markets from Europe and North America to emerging economies of Asia Pacific and Latin America offers immense opportunities for the market players in the growing fashion industry.
 

Additionally, the advent of e-commerce has positively driven the global fashion and clothing market as it enables the availability of numerous options in single platform, low delivery time, replacement options with guarantee and discount offers. Also, rising internet facilities across the globe are expected to proliferate the demand for the product in the e-commerce clothing platform. Moreover, owing to its quick drying and lightweight characteristics, polyester fiber is largely incorporated in sportswear which augments the market growth during the assessment period. Increasing concern for fitness and health issues is augmenting the sports industries worldwide which is likely to increase the demand for sportswear.
 

Polyester fiber is derived from refining of crude oil. Crude oil prices are highly fluctuating which is expected to have adverse impacts on its production, thus hindering the polyester fiber market demand in the forecast timeline.
 

Polyester fiber is a long chain synthetic polymer which is generally formed by reacting terephthalic acid and ethylene glycol. It consists of polyester wholly or 85% by weight and blended with cotton or wool. The global market is primarily driven by rising consumption of polyester fiber in apparels and carpeting sectors. Moreover, widespread use of carpets & rugs in residential and building sectors is likely to further drive the market during the forecast period.
 

Polyester Fiber Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 100.2 Billion (USD)
Historical Data for: 2016 to 2017 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 8.5% 2026 Value Projection: 193.1 Billion (USD)
Pages: 214 Tables, Charts & Figures: 222
Geographies covered (17): U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC
Segments covered: Grade, Product, Application, Region
Companies covered (15): Reliance Industries Limited, Indorama Ventures Public Company Limited, William Barnet and Son, LLC, Sinopec Yizheng Chemical Fibre Limited Liability Company, Mossi Ghisolfi Group, Nan Ya Plastics Corporation, Swicofil AG, Toray Industries, Inc, Zhejiang Hengsheng Chemical Fiber Co., Ltd, Stein Fibers Ltd, Far Eastern New Century Corporation, GreenFiber International S.A, Zhejiang Hengyi Petrochemical Group, Alpek S.A.B. de C.V and Jiangsu Sanfangxiang Group
Growth Drivers:
  • Developments in the global fashion industry
  • Growing urbanization and home décor industry
  • Superior properties of polyester fibers as compared to other synthetic fibers
Pitfalls & Challenges:
  • Volatile raw material prices

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PET grade to hold the majority of market share

Polyester Fiber Industry Size, by Grade, 2016 – 2026 (USD Million)
Polyester Fiber Industry Size, by Grade, 2016 – 2026 (USD Million)

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PET grade was valued at around USD 70 billion in 2018 and is typically used in the manufacturing of high-quality fabrics and can be easily blended with other materials to enhance stain resistance and wrinkle free characteristics.
 

The latter segment, PCDT fiber garners a comparatively smaller market share as it lacks the strength of PET grade. Nevertheless, this grade offers superior resilience and elasticity, which makes it a suitable choice for the home décor sector. It finds widespread applications in the production of drapes, curtains, and furniture & upholstery covers.
 

Solid fibers are more popular

Solid fiber exhibits excellent tensile strength, even weaving of the fibers, high durability, good finishing, and easy availability. The segment had a substantial polyester fiber market share in 2018.and has a significant aesthetic appeal, which finds application in home furnishings, apparels, apparel, nonwoven fabrics and products.
 

Hollow fibers are typically used in fillers, which is further used in quilts, pillows, and protective clothing on account of its good bulk, warmth, and high resilience characteristics. Positive outlook of protective wear such as coats and jackets in colder areas of North America and Europe prominently drive the consumption of the product. The segment is estimated to grow at a CAGR around 8% by 2026.
 

Apparel segment to dominate the polyester fiber industry

Apparel category garnered the largest market share throughout the review period. This is mainly attributed to the exceptional characteristics of the fiber, which includes quick drying, high durability, excellent elasticity, high wrinkle resistance, lightweight, and high shape retention. These features find application in fashion industry where the clothing and apparel require wrinkle free and fade resistant properties.
 

Carpet & rugs segment register a healthy CAGR above 8% in 2018 owing to the superior properties of polyester fiber such as fade and stain resistance and cost-effectiveness than its substitutes, nylon and polypropylene.
 

Asia Pacific region to witness the highest demand and consumption

Global Polyester Fiber Market Size, by Region, 2016 – 2026 (USD Million)
Global Polyester Fiber Market Size, by Region, 2016 – 2026 (USD Million)

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Asia Pacific polyester fiber market dominated the global industry and is likely to be the fastest-growing regional market with a robust CAGR of over 8.5% during the forecast timeline. Significant development of flooring and home furnishing activities due to rising construction activities of residential and commercial buildings in the developing countries of China and India are expected to augment the regional market growth. Also, soaring apparel and clothing sector creates an upsurge in the demand for fast-fashion goods which propel the usage of the product.
 

The European market held a substantial market share in 2018. In 2017, the European Union was the leading importer of apparels, held over 34% of the global imports. This soaring demand along with positive outlook of home furnishing and home textile sectors is bolstering the product demand in the region.
 

Mergers & acquisitions, a key strategy among the players

Some of the major players operating in the polyester fiber market are Sinopec Yizheng Chemical Fibre Limited Liability Company, Reliance Industries Limited (RIL), Indorama Ventures Public Company Limited, Mossi Ghisolfi Group, Nan Ya Plastics Corporation, Swicofil AG, Zhejiang Hengsheng Chemical Fiber Co., Ltd, William Barnet and Son, LLC, Stein Fibers Ltd, Far Eastern New Century Corporation, GreenFiber International S.A, Toray Industries, Inc, Zhejiang Hengyi Petrochemical Group, Alpek S.A.B. de C.V., and Jiangsu Sanfangxiang Group. Most of the market players are adopting various business strategies such as expansion, mergers & acquisitions, investments, and joint ventures to gain competitive edge. For instance, in September 2017, RIL acquired Kemrock Industries & Exports. This acquisition helped the company to increase its global footprint.
 

The polyester fiber market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2016 to 2026, for the following segments:

By Grade

  • PET
  • PCDT

By Product

  • Solid
  • Hollow

By Application

  • Carpets & Rugs
  • Non-Woven Fabrics Fiberfill
  • Apparels
  • Home Textiles
  • Others (industrial fabrics,etc.)

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • GCC

Frequently Asked Questions (FAQ) :

Rising apparel import in the Europe region is likely to positively influence the growth of the market in the coming years.
The hollow fibers product segment is estimated to grow at a CAGR of around 8% to 2026 due to positive outlook for protective wear such as coats and jackets in colder areas of North America and Europe.
The Asia Pacific region dominated the global industry and is likely to be the fastest-growing regional market with a robust CAGR of over 8.5% during the forecast timeline.

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