Polyester Fiber Market to Reach Valuation of USD 150.3 Billion by 2030 – Growth in the Worldwide Fashion Industry Drives the Market

In terms of revenue, the Global Polyester Fiber Market is expected to reach USD 150.3 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 7.5% from 2023 to 2030.

Expanding demand for Polyester Fibers in the textile industry, the rapidly growing fashion sector in developed nations, and changing consumer preferences for polyester blended fibers are key factors fueling the growth of Polyester Fiber. Polyester Fiber is a synthetic material often made from polyethylene glycol and terephthalic acid and has a high capacity for resistance to wrinkles and abrasion. Polyester Fibers are mainly employed in clothing and home décor products, upholstered furniture, and several industrial uses such as conveyor belts, conveyor tire reinforcement, and safety. Moreover, these fibers can also dry more quickly after rinsing because they are hydrophobic. Polyester Fibers are frequently spun alongside natural fibers to achieve particular blended characteristics. As a result, they have even lower combustion resistance. Polyester Fibers can be kept and reshaped into different shapes and given specific insulating qualities. PET and PCDT Polyester are two types of Polyester Fiber. The most widely used kind of polyester fabric appears to be ethylene polyester (PET).

Key Highlights from the Report

· Among Grades, the polyethylene terephthalate market segment is anticipated to dominate the polyester market with the largest market share due to its usage in producing high-quality fabrics.

· Based on Applications, the apparel segment experienced the highest CAGR over the forecast period due to the incorporation of remarkable features, including quick drying, increased wrinkle resistance, and superior elasticity.

· Regarding Region, the Asia Pacific region is expected to be the most profitable market during the forecast period. This is due to the increasing product accessibility and a higher adoption rate.

Market Dynamics

High-end Polyester Fibers with superior durability, quick drying, and washability will have prospects due to rapidly evolving fashion trends and contemporary living standards. Rising economic levels and increased urbanization have fueled fashion trends in numerous emerging economies. Because many rural and semi-urban areas have easy access to the internet, it is anticipated that demand for the newest trendy items in the garment and home décor sectors will continue to rise.

Throughout the evaluation period, the growth of the e-commerce sector is projected to increase the market share of Polyester Fiber. This is because it makes it possible to offer a variety of reasonably priced goods, quick shipping alternatives, simple return procedures, and material assurance, increasing product demand worldwide. However, several other factors will also affect the market share, such as the digitalization of production facilities, shorter lead times, and the expanding textile sector in developing nations.

Among regions, the Asia Pacific market is projected to lead the global Polyester Fiber industry. This is because of the rising fashion industry in developing countries, including China, India, Japan, and Malaysia. In addition, increasing spending on home remodeling activities to gain an attractive appearance will create opportunities for home furnishing products. Due to its large production capacity, China has been registered as the fastest-growing market during the forecast timeframe.

Furthermore, growing per capita incomes in various Asia Pacific countries, including India, China, Vietnam, and Malaysia, further drive the market by increasing the penetration of Polyester Fibers in the region. Moreover, various Polyester Fiber industry players in the region will further propel the market during the projected period. The U.S. and Europe are considered major importers of Polyester Fibers and will exhibit stable growth throughout the study period. These factors will influence the overall Polyester Fiber market value in the coming years.

The Global Polyester Fiber Market is Segmented as follows

• Types
  • Polyester Staple Fiber (PSF)
  • Polyester Filament Yarn (PFY)
• Sources
  • Virgin
  • Recycled & Blended
• Grades
  • Polyethylene Terephthalate (PET) Polyester
  • PCDT Polyester
• Forms
  • Solid
  • Hollow
• Applications
  • Carpets & Rugs
  • Non-Woven Fabrics
  • Fiberfil
  • Apparel
  • Home Textiles
  • Other Applications
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Polyester Fiber Market is

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, Stein Fibers, LTD., Green Group S.A., Shree Renga Polymers, kayavlon, Diyou Fibre (M) Sdn Bhd, Swicofil AG, SILON, SINOPEC YIZHENG CHEMICAL FIBRE LIMITED LIABILITY COMPANY, Alpek S.A.B. de C.V., Tongkun Group Zhejiang Hengsheng Chemical Fiber Co., Ltd., and Zhejiang Hengyi Group Co., Ltd., among others.

The Global Polyester Fiber Market Scope can be Tabulated as below