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A10583 | Pages: 370 | Charts: 72 | Tables: 268 |
The global polyester fiber market size was valued at $81.1 billion in 2022, and is projected to reach $160.1 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.
The polyester fiber market report is highly fragmented, with several players including Reliance Industries Limited, Barnet, Sarla Performance Fibers Limited, Märkische Faser GmbH, PolyFiber Industries, TORAY INDUSTRIES, INC., Nirmal Fibers (P) Ltd., Indorama Ventures Public Company Limited, NAN YA PLASTICS CORPORATION, and Stein Fibers, LTD.
More than 6,000 product literatures, annual reports, industry releases, and other such documents of key industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
Polyester fiber is a synthetic fiber that is a long-chain polymer obtained from coal, water, air, and petroleum. These fibers are produced through a chemical reaction between dihydric alcohol and dicarboxylic acid. Polyester fiber is the most crucial synthetic fiber across the globe in terms of production volume owing to its superior performance and ease with which it can be processed. It is used in the production of multiple products such as home furnishings, clothing, industrial fabrics, tire cord fabrics, filters, and nonwoven fabrics. This fiber has numerous advantages over conventional materials such as cotton.
Polyester fiber plays a crucial role in the production of specific types of car tire reinforcements. Moreover, polyester fiber is used to make fabrics that are used in conveyor belts and safety belt manufacturing due to its strong and lightweight properties.
Furthermore, due to its insulating properties and relatively soft texture, polyester fiber is employed in manufacturing cushioning materials for pillows and upholstery padding. Since fabrics made from polyester fiber are favorably resistant to staining, they are suitable for usage as tablecloth. In addition, polyester fiber absorbs oil, and this quality makes it an ideal solution for the application of soil, water, and fire-resistant finishes.
Moreover, low absorbency of polyester fiber makes it naturally stain resistant, which, in turn, increases its demand in the fabrication of sportswear, sports gear, upholstery, tablecloths, and covers. Textured polyester fiber is an effective, non-allergenic insulator, so it can be utilized for filling pillows, outerwear, quilting, and sleeping bags. However, as the raw materials used to produce polyester fibers are derived from crude oil, the fluctuating prices of crude oil prove to be a restraining factor of the global polyester fiber market growth.
Nevertheless, surge in demand for recyclable polyester fiber is expected to open new avenues for the development of the global polyester fiber industry in the future years. Polyester fiber is a convenient material for recycling process due to its thermoplastic characteristics. Recyclable polyester products have acquired attention in the production of automobile components due to rise in environmental awareness to protect resources.
Polyester fiber can be utilized in the recycled form in car upholstery, particularly in automobile seat covers and carpets. In addition, polyester nonwovens can be recycled to make new materials. Besides, polyester resin can be employed as a matrix material for the natural fiber composites, enabling the reuse of waste materials employed in the pre-assembled automobiles parts, including boot liners, headliner, and parcel shelves.
Furthermore, presently, many manufacturers are focusing on production of recycled polyester fiber to protect the environment. For instance, Freudenberg Performance Materials produces automobile carpets made from recycled PET with an environmentally friendly production method. In addition to utilizing recycled fiber, it has reduced the usage of chemical binders and also obtained lighter carpets compared to traditional automobile carpets, which encourage environmental protection.
The global polyester fiber market is segmented into form, grade, product type, application, and region. On the basis of form, the market is categorized into solid and hollow. Depending on product type, it is bifurcated into polyester staple fiber (PSF) and polyester filament yarn (PFY). By application, it is segregated into automotive, home furnishing, textile, filtration, construction, and others. As per grade, it is fragmented into polyethylene terephthalate (PET) polyester and poly-1, 4-cyclohexylene-dimethylene terephthalate (PCDT) polyester. Region wise, the polyester fiber market share is studied across North America, Europe, Asia-Pacific, and LAMEA.
Solid segment dominated the global polyester fiber market in 2022. Solid polyester fiber is widely used in spinning and blending with cotton; wool; linen; viscose; to fabricate clothing, production of carpet yarn, geotextile; as well as in the manufacturing of a variety of non-woven layers for agricultural applications and moisture insulations. Solid polyester fiber is gaining popularity in swimwear, sports gear, and fashion apparel owing to its exceptional stain-resistant and wrinkle-resistant properties. In addition, it is highly resistant to general wear and tear and durable unlike numerous other natural fibers.
Moreover, it is moisture-resistant, which makes it ideal for repelling rain and other forms of precipitation, and hence, is commonly used in outdoor clothing and outdoor apparel. Furthermore, presently, recycled solid polyester fiber is gaining high traction in the market as it is environmentally friendly. Hence, it is one of the major products used for filling materials in sofas, pillows, and toys. The fiber offers more firmness and provides superior resilience for pillows, cushions, and sofas. Thus, all these factors collectively drive its demand across the globe.
Polyethylene terephthalate (PET) polyester segment dominated the global polyester fiber market in 2022. Polyethylene terephthalate (PET) polyester is the most common thermoplastic polymer resin that shows resistance to moisture, solvents, and alcohols. It finds application in fabrics, packaging, and the textile industry. Moreover, it is utilized in films to mold parts for electronics and automotives.
Rise in demand for PET in fabrication of packaging materials for food products, including fruit and beverages containers, which acts as a key driving factor of the segment. In addition, multiple benefits associated with PET such as high strength, stiffness, ductility, and hardness make it applicable in a wide range of industries, which, in turn, drives the market growth.
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Polyester filament yarn (PFY) segment dominated the global polyester fiber market in 2022. PFY possesses high strength, making it a suitable choice in the textile industry. It is utilized in knitting & weaving to produce polyester fabrics such as consumer fabrics and home furnishings, including curtains, bedspreads, bed sheets, and draperies.
PFY is a highly demanded yarn in the global market produced from polyethylene terephthalate polyester. These yarns are widely employed in modern fiber manufacturing industries. Moreover, high tenacity PFY is used for producing light fabrics such as voile and organdie; regular tenacity PFY is used to produce lingerie; and low tenacity PFY is employed to make shirts & blouses. Thus, increase in applications of PFY acts as a key driving force of the global market.
Furthermore, PFY is majorly used in the fabrication of apparel such as quilted garments, jackets, and other outer protective materials. This is attributed to the fact that PFY is lightweight, and exhibits high tenacity and durability, thus making it resistant to harsh weather conditions. In addition, it retains hydrophobic properties that shield the wearer against damp and wet environmental conditions. Thus, myriad of benefits associated with PFY boost its demand, globally, which, in turn, augments the growth of the market.
Textile segment dominated the global polyester fiber market in 2022. Polyester fibers exhibit breathable and stain-resistant properties that make them ideal for use in clothing. Moreover, they are often used in outerwear due to their high durability and tenacity. The hydrophobic property of polyester fiber makes it suitable for jackets and quilted garments, which are used in wet or damp environments. Polyester is an ideal fiber to be used in textile industry due to the fact that it can retain its shape, unlike its counterparts such as wool and cotton, which tend to flatten out over time, significantly lowering their ability to trap warm air.
Polyester is often used in shirts, pants, and suits, either by itself or as a blend, due to its properties such as stain resistance, wrinkle resistance, prolonged durability, and its ability to retain shape. Thus, multiple benefits associated with polyester fiber coupled with increase in its applications strengthens the growth of the polyester fiber marke across the globe.
Asia-Pacific dominated the global polyester fiber market forecast in 2022. The apparel industry in Asia-Pacific is experiencing notable growth due to exponential surge in population, rapid urbanization, and rise in disposable income. Thus, polyester fiber is widely used in the production of t-shirts, dresses, and sportswear.
Further, the automobile industry in Asia-Pacific is witnessing rapid development due to the presence of high population base coupled with increase in urbanization and rise in traffic congestion. This, in turn, fuels the demand for polyester fiber, which is used in automobile seats, carpets, and other interior components due to its superior strength and resistance to wear and tear. Moreover, expansion of the sportswear industry in the region fosters the demand for polyester fiber, as it is increasingly used in the fabrication of outdoor clothing and activewear due to its lightweight and moisture-wicking properties. In addition, polyester blends well with other fibers such as cotton, wool, and silk, making it a versatile material for a wide range of clothing products.
The major players operating in the global polyester fiber market report nclude Reliance Industries Limited, Barnet, Sarla Performance Fibers Limited, Märkische Faser GmbH, PolyFiber Industries, TORAY INDUSTRIES, INC., Nirmal Fibers (P) Ltd., Indorama Ventures Public Company Limited, NAN YA PLASTICS CORPORATION, and Stein Fibers, LTD. These players have adopted several growth strategies such as product launch and collaboration to strengthen their foothold in the global market.
In 2024, Reliance Industries Limited (RIL) announced plans to expand its vinyl and polyester production chain to meet the increasing domestic demand for these materials. To achieve this, RIL is expected to establish integrated facilities for polyvinyl chloride (PVC) and chlorinated PVC with a combined capacity of 1.5 million metric ton per annum (MMTPA) at two sites: Dahej and Nagothane. This expansion is strategically aligned with the anticipated growth in various sectors, such as construction, infrastructure, and packaging, where PVC is widely used. RIL aims to bolster its manufacturing capabilities, enhance supply reliability, and support the burgeoning domestic market by investing in these new facilities, strengthening its position as a leading player in the vinyl industry by the target completion date of 2026-27.
In 2022, Reliance Industries Limited acquired Shubhalakshmi Polyesters Ltd, a manufacturer of polyester chips and yarn, for $210 million. This acquisition is strategic for Reliance as it enhances the company’s capabilities in producing and supplying key petrochemical products, including polyester staple fiber (PSF), polyethylene terephthalate (PET) chips, and various types of polyester yarns. These materials are essential in a wide range of industries, such as textiles and packaging. The acquisition allows Reliance to strengthen its position in the polyester market, expand its product portfolio, and meet the growing demand for polyester-based products.
Key Market Segments
Key Market Players