Polyester Fiber Market Expected to Reach $160.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Polyester Fiber Market," The polyester fiber market size was valued at $81.1 billion in 2022, and is estimated to reach $160.1 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.

Polyester is a polymer majorly comprising compounds within the ester functional group. Most polyester fibers are produced from ethylene, which is a constituent of petroleum. Polyester fiber exhibits high strength, low shrinkage, high modulus, light fastness, heat set stability, and chemical resistance properties. Thus, it finds its major application in the textile industry. In some uses, polyester fiber is the sole constituent of apparels, but commonly polyester is blended with cotton or another natural fiber. Moreover, polyester fiber is used in the production of numerous home furnishing fabrics such as curtains, bedsheets, blankets, and pillowcases.

Furthermore, polyester fibers are utilized in fiber-reinforced concrete for pavements and overlays, industrial & warehouse floors, and pre-cast products. The use of polyester fiber enhances the tensile strength, compressive strength, impact strength, and abrasion resistance of concrete, thus making suitable for use in the construction industry.

The growth of the global polyester fiber industry is majorly attributable to its wide applications such as automotive, home furnishing, textile, filtration, and construction. In automobiles, polyester fibers are utilized in various forms of textile materials such as warp-knitted, circular-knitted, woven, and nonwoven structures. These fibers are extensively used due to their properties such as high strength, resistance to temperature, chemical resistance, exceptional sliding properties, low absorption of humidity, electrical insulation properties, and high resistance to abrasion.

Furthermore, polyethylene terephthalate (PET) polyester is widely used in producing seating fabrics; automobile carpets; safety belts; roof, floor, and door panels; tires; air filters; insulation materials; airbags; and fuel filters. Automobile seat covers are produced from woven, warp-knitted, or circular-knitted fabrics, in which PET is employed as a dominant fiber.

In addition, polyester fiber is utilized as a thermoset resin with vinyl ester in the manufacturing of natural fiber composites in automotive applications, including seat backs, headliners, door panel, and dashboards.

In the textile industry, polyester fiber is among the widely used synthetic fiber. It is utilized as mulch mats, insect meshes, and fruit covers. Its properties such as UV & weather resistance and lighter weight make it an ideal material in agrotextile. Further, polyester fiber exhibits wicking effect, superior dimensional stability, soil release property, superior heat & thermal stability, lightweight hydrophobicity, and UV resistance. Owing to these properties, it is widely utilized for sport applications and can be used in various wearables for athletes.

During intensive physical activities, sweat is produced, which is transferred from the body via the capillaries by the wicking effect, and due to hydrophobicity of polyester fabric, it dries up quickly. Furthermore, it is employed for various suiting and shirting applications. It is remarkably compatible with different fibers for creating blends such as poly-wool, poly-cotton, and poly-viscose.

Furthermore, it is an extensively used material for multiple home textile applications. Its properties such as resistance to micro-organisms, soil release, moderate resistance to alkalis & acids, and superior drapability make it suitable for pillow covers, bed sheets, and similar applications. Moreover, it is utilized for making curtains due to high UV resistance and sound absorption properties. Waterproof polyester is utilized for tents, outdoor porch curtains, and tarpaulins. Moreover, polyester can be employed in the production of furniture to provide durability and strength compared to conventional materials. It is lightweight and durable for use in upholstery fabrics.

However, the availability of alternatives is projected to hinder the expansion of the market. On the contrary, surge in demand for recyclable polyester fiber is expected to offer remunerative opportunities for the growth of the global market during the forecast period.

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 divided into polyester staple fiber (PSF) and polyester filament yarn (PFY). By application, it is fragmented into automotive, home furnishing, textile, filtration, construction, and others. According to grade, it is segregated 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.

The key players operating in the global polyester fiber market include 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 expansion, product launch, collaboration, and joint venture to gain edge in the competitive market. For instance, in August 2022, Reliance Industries Limited (RIL) announced the opening of a new recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh, India that will double its capacity for recycled polyethylene terephthalate. This production plant will boost the company’s capacity for post-consumer polyethylene terephthalate (PET) bottles by nearly 5 billion and improve its sustainability quotient and strengthen the entire polyester and polymer value chain.

Key findings of the study:

• By form, the solid segment was the highest revenue contributor to the market in 2022.
• On the basis of grade, the polyethylene terephthalate (PET) polyester segment dominated the market in 2022.
• Depending on product type, the polyester filament yarn (PFY) segment accounted for the highest revenue in 2022.
• By application, the textile segment held the largest share of the market in 2022
• Region wise, Asia-Pacific was the highest revenue contributor to the market in 2022.