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Polyester Fiber Market - By Grade (PET, PCDT), By Product (Solid, Hollow), By Application (Carpets & Rugs, Non-Woven Fiber, Fiberfill, Apparel, Home Textile, Others) & Forecast, 2023-2032

  • Report ID: GMI2120
  • Published Date: Jul 2024
  • Report Format: PDF

Polyester Fiber Market Size

Polyester Fiber Market generated USD 120 billion in 2023 and is projected to register 5.1% CAGR from 2024 and 2032. Mergers and acquisitions (M&A) serve as a significant growth driver in the market, facilitating industry consolidation and expanding market reach for key players. Through strategic acquisitions, companies can enhance their production capacities, gain access to new technologies, and diversify their product portfolios. M&A also enables companies to achieve economies of scale, optimize operational efficiencies, and strengthen their competitive positions in the global market.

Polyester Fiber Market

Moreover, acquisitions often provide opportunities for synergies, cost savings, and increased market share, fostering innovation and driving overall growth in the polyester fiber industry. For instance, In March 2023, Reliance Industries successfully acquired the polyester business of Shubhalakshmi Polyesters alongside Shubhlaxmi Polytex Limited.

In addition, the growth in automotive and industrial applications is another significant driver. Increasing demand for lightweight, durable, and cost-effective materials in automotive interiors, upholstery, and under-the-hood applications is fueling the adoption of polyester fibers. These fibers offer advantages such as high strength-to-weight ratio, resistance to chemicals and abrasion, and ease of maintenance, making them ideal for various automotive components.

Similarly, in industrial applications, polyester fibers are used in filters, conveyor belts, ropes, and geotextiles due to their superior mechanical properties and longevity. As automotive production expands globally and industrial sectors modernize, the demand for polyester fibers in these applications is expected to continue growing, driving overall market expansion.

Competition from alternative fibers poses a significant market restraint in the industry. As sustainability becomes a priority for consumers and regulations tighten around environmental impact, natural fibers such as cotton, wool, and hemp are gaining popularity due to their biodegradability and eco-friendly profiles. Additionally, synthetic fibers like nylon and polypropylene compete directly with polyester, offering different performance characteristics that cater to specific market segments. This competitive landscape challenges polyester fiber manufacturers to innovate continually, improve sustainability practices, and differentiate their products to maintain market share amidst evolving consumer preferences and regulatory pressures.

Polyester Fiber Market Trends

Sustainability has emerged as a significant market trend in the polyester fiber industry. Increasing environmental awareness and regulatory pressures have propelled manufacturers to adopt sustainable practices throughout the production cycle. This includes the development of recycled polyester fibers from post-consumer PET bottles and other sources, reducing dependence on virgin materials and minimizing carbon footprints.

 Additionally, advancements in eco-friendly manufacturing technologies and processes are enhancing the overall sustainability profile of polyester fibers. As consumers prioritize environmentally responsible products, manufacturers are increasingly integrating sustainability into their business strategies to meet these evolving demands and gain a competitive edge in the global market.

For instance, In April 2023, Toray Industries, Inc., announced the rebranding of its fiber made from recycled PET bottles under the &+™ brand. This initiative underscores Toray's commitment to expanding its collection of raw materials and advancing sustainability within its textile business.

The rising demand for high-performance textiles is a notable trend in the market. This trend is driven by increasing consumer preferences for durable, versatile, and functional fabrics across various applications. Industries such as sportswear, outdoor apparel, and technical textiles are particularly driving this demand, seeking materials that offer superior moisture management, thermal insulation, and comfort properties.

Manufacturers are responding by developing advanced polyester fibers that meet stringent performance requirements while also addressing sustainability concerns. As innovation in textile technology continues to evolve, the demand for high-performance polyester fibers is expected to grow, offering opportunities for market expansion and differentiation among industry players.

Polyester Fiber Market Analysis

Polyester Fiber Market Size, By Grade, 2021 - 2032 (USD Billion)

Based on grade, the market is segmented into PET and PCDT. The PET segment accounted for USD 90.24 billion in 2023 and will grow at 4.9% CAGR during 2024-2032, due to its extensive use in various applications such as clothing, packaging, and industrial fabrics. PET fibers are highly valued for their excellent durability, lightweight nature, and resistance to moisture and chemicals. The increasing focus on recycling and sustainability is also favoring the growth of PET fibers, as they can be efficiently recycled into new fibers, reducing the environmental impact of textile waste. The adoption of PET fibers in the apparel industry, driven by consumer preferences for comfortable, easy-care, and long-lasting clothing, is expected to significantly contribute to the market growth trajectory.

The PCDT (poly-1, 4-cyclohexylene-dimethylene terephthalate) segment is also emerging as a niche yet promising area within the polyester fiber market. PCDT fibers are known for their superior elasticity, resilience, and dimensional stability, making them ideal for applications requiring high-performance characteristics, such as sportswear, swimwear, and technical textiles. The unique properties of PCDT fibers, including their enhanced dyeability and aesthetic appeal, are attracting attention from manufacturers seeking to develop innovative and high-value products, thereby inducing segment growth.

Polyester Fiber Market Revenue Share, By Application, (2023)

Based on application, the market is categorized into solid polyester fiber and hollow polyester fiber. The solid polyester fiber segment accounted for USD 99.79 billion in 2023 and is projected to grow at 5.1% CAGR through 2032, owing to its utility in the production of fabrics for clothing, upholstery, and bedding, owing to their strength, durability, and comfort.

The increasing consumer preference for wrinkle-resistant, quick-drying, and low-maintenance textiles is driving the demand for solid polyester fibers. Additionally, the growing trend of home decoration and the rising demand for stylish and functional home textiles are contributing to the expansion of this segment. As consumers continue to seek high-quality and affordable textile products, the solid polyester fiber segment is expected to maintain its growth momentum.

The hollow polyester fiber segment is also gaining traction, particularly in insulation and fill applications. Hollow fibers are characterized by their lightweight and excellent thermal insulation properties, making them ideal for use in bedding, outerwear, and industrial insulation products. The increasing demand for energy-efficient and thermally insulated materials in the construction and automotive industries is further driving the growth of the hollow fiber segment. Additionally, the rising popularity of eco-friendly and hypoallergenic bedding products is boosting the adoption of hollow polyester fibers.

Asia Pacific Polyester Fiber Market Size, 2021- 2032 (USD Billion)

Asia Pacific dominated the polyester fiber market in 2023. It generated a revenue of USD 95.75 million in 2023 and will grow at 5.2% CAGR during the forecast period, driven by rapid industrialization, urbanization, and a booming textile industry. Countries such as China, India, and South Korea are major contributors to the market growth, owing to their large manufacturing bases, abundant raw material availability, and favorable government policies.

The rising disposable income and changing consumer preferences in these countries are boosting the demand for polyester fibers in apparel, home furnishings, and industrial applications. Moreover, the increasing investments in research and development activities and the adoption of advanced manufacturing technologies are further propelling the market in the region.

In the Asia Pacific region, Japan plays a significant role due to its advanced technology and innovation in textile manufacturing. The country is known for its high-quality polyester fibers, driven by rigorous research and development efforts and the presence of leading industry players.

Japan's focus on sustainable and eco-friendly production processes aligns with global environmental goals, further enhancing its market position. Additionally, the strong demand for high-performance textiles in various sectors, including automotive, electronics, and apparel, supports the growth of the market in Japan. With its robust infrastructure and commitment to technological advancements, Japan continues to be a key contributor to the market expansion.

Polyester Fiber Market Share

Polyester Fiber Market Company Share, (2023)

Prominent players, such as Toray Industries and Reliance Limited, play integral roles in driving growth and innovation within the market. Their major growth strategies typically include expanding production capacities, investing in advanced manufacturing technologies, and enhancing their recycling capabilities to meet the increasing demand for sustainable products.

They are also forming strategic partnerships and joint ventures to strengthen their market presence and access new markets. Additionally, companies are focusing on product innovation to cater to diverse industry requirements and improve product performance. Continuous investments in research and development are enabling these companies to introduce high-quality, eco-friendly polyester fibers and stay competitive in a rapidly evolving market.

Polyester Fiber Market Companies

Major players operating in the polyester fiber industry include:

  • Indorama Ventures Public Company Limited
  • Toray Industries, Inc.
  • Alpek S.A.B. de C.V.
  • Reliance Industries Limited
  • Sinopec Yizheng Chemical Fibre Company Limited
  • Teijin Limited
  • William Barnet & Son, LLC
  • Far Eastern New Century Corporation
  • Nan Ya Plastics Corporation
  • Tongkun Group Co., Ltd.

Polyester Fiber Industry News

  • In October 2022, Toray Industries, Inc., a Japan-based textile industry company, developed Ultrasuede nu, a new nonwoven material that includes 100% plant-based polyester. All Nippon Airways Co., Ltd (ANA) incorporated this fabric into the headrest covers of the ANA Green Jet starting in November 2022.
  • In August 2022, Reliance Industries Limited (RIL), an Indian multinational conglomerate, announced plans for significant capacity expansion in the polyester value chain over the next five years during chairman Mukesh Ambani's address at the 45th Annual General Meeting (post-IPO) of the company. Additionally, RIL intends to construct one of the world’s largest carbon fiber plants.

The polyester fiber market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Tons) from 2021 to 2032, for the following segments:

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Market, By Grade:

  • PET
  • PCDT

Market, By Application:

  • Solid
  • Hollow

Market, By Application:

  • Carpets & Rugs
  • Non-Woven Fiber
  • Fiberfill
  • Apparel
  • Home Textile
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA


Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global industry size for polyester fiber was valued at USD 120 billion in 2023 and is anticipated to register 5.1% CAGR between 2024 and 2032 driven by technological advancements in production process and growth in automotive and industrial applications.

The PET segment in the polyester fiber market is expected to record 4.9% CAGR during 2024-2032, due to its extensive use in various applications, such as clothing, packaging, and industrial fabrics.

Asia Pacific market is expected to witness 5.2% CAGR through 2032, driven by rapid industrialization, urbanization, and a booming textile industry.

Indorama Ventures Public Company Limited, Toray Industries, Inc., Alpek S.A.B. de C.V., Reliance Industries Limited, Sinopec Yizheng Chemical Fibre Company Limited, Teijin Limited, and William Barnet & Son, LLC, among others.

Polyester Fiber Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 222
  • Countries covered: 22
  • Pages: 210
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