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Polyester Fiber Market Size
- Report ID: GMI2120
- Published Date: Sep 2021
- Report Format: PDF
Polyester Fiber Market Size
Global Polyester Fiber Market size was valued at over USD 90 billion in 2020 and is expected to grow at a CAGR of 7.8% from 2021 to 2027 owing to the rising demand for polyester fibers in the textile industry and rapid growth of the fashion industry in developed countries coupled with shifting consumer preferences for polyester blended fibers
Polyester fiber, a synthetic material, is generally produced from polyethylene glycol and terephthalic acid, offering extreme elasticity, high wrinkle, and abrasion resistance capacity. Polyester fibers are specifically used in apparel & home furnishing materials, upholstered furniture, and many industrial applications including car tire reinforcements, safety, and conveyor belts. Moreover, in combination with natural fibers, these materials can be used to make sportswear and quality clothes.
Rapidly changing fashion trends coupled with modern living standards will create opportunities for high-end polyester fibers, which can exhibit high durability, quick-drying, and easy to wash abilities. Rising income levels and rapid urbanization have further propelled the fashion trends in various emerging economies. With easy access to the internet in many rural and semi-urban areas, the demand for the latest fashion products in the apparel section and home decoration segments is further expected to increase.
| Report Attribute | Details |
|---|---|
| Base Year: | 2020 |
| Polyester Fiber Market Size in 2020: | 91,726.6 Million (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 7.8% |
| 2027 Value Projection: | 165,369.9 Million (USD) |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 210 |
| Tables, Charts & Figures: | 222 |
| Segments covered: | Grade; Product; Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The emergence of the e-commerce industry is likely to boost the polyester fiber market share over the assessment period. It enables a wide range of affordable products, fast delivery options, easy return policies, and material assurance, proliferating product demand across the globe. Moreover, factors including digitalization of production facilities, lowering lead times, and the growing textile industry in developing countries will collectively contribute to the market share.
Owing to their lightweight and moisture-wicking properties, polyester fibers are exclusively used for sports and gym clothing, further influencing the market growth by 2027. Stringent government regulations to reduce GHG emissions and fluctuating prices of raw materials may limit the industry growth over the forecast period. Bio-based polyesters can effectively address the situation and have the potential to capture a considerable market share.
The recent COVID-19 pandemic has adversely impacted the market size due to a low labor force, the shutdown of production facilities, and supply chain disruptions across the globe. Polyester fiber is a synthetic material derived from the refining of crude oil. Due to the pandemic, crude oil production was shattered, which further negatively impacted the global polyester fiber market. The situation is quickly recovering since the last quarter of 2020 owing to the rising demand for UV-protected and antibacterial garments across the globe.
Frequently Asked Questions (FAQ) :
Polyester Fiber Market Scope
