Global Polyester Fiber Market Size, Share & Trends Analysis Report By Form (Solid, and Hollow), By Grade, By Product Type (Polyester Staple Fiber (PSF), and Polyester Filament Yarn (PFY)), By Application, By Regional Outlook and Forecast, 2023 - 2030

Global Polyester Fiber Market Size, Share & Trends Analysis Report By Form (Solid, and Hollow), By Grade, By Product Type (Polyester Staple Fiber (PSF), and Polyester Filament Yarn (PFY)), By Application, By Regional Outlook and Forecast, 2023 - 2030

The Global Polyester Fiber Market size is expected to reach $153.5 billion by 2030, rising at a market growth of 7.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 70,195.3 kilo tonnes, experiencing a growth of 6.7% (2019-2022).

The textile and apparel segment remains unchallenged, leading in the huge and constantly changing market. Because of its continued popularity, it is at the forefront, especially when compared to many other applications. Therefore, the textile and apparel segment captured $39,724.9 million revenue in the market in 2022. Multiple variables lead to this supremacy. Polyester fiber is an excellent choice for textiles and apparel because of its remarkable durability, wrinkle resistance, and color retention. This adaptability is present in many goods, from high-performance sports to daily wear. The textile and apparel industries have completely realized polyester fiber's potential, allowing them to create various styles that satisfy customer tastes and current trends.

Innovations have led to the creation of high-performance polyester fibers with enhanced properties. These fibers exhibit improved strength, durability, and resistance to wear and tear. High-performance polyester fibers are employed in applications where exceptional performance is crucial, such as technical textiles, industrial applications, and specialty fabrics. Developing specialty polyester fibers tailored for specific applications has expanded market opportunities. Additionally, Polyester fibers, with their versatility, durability, and cost-effectiveness, align well with the demands of the fast fashion industry. Polyester fibers can also be treated as water-resistant or can inherently repel moisture. This feature is valuable in packaging materials, especially for products that need protection from rain, humidity, or other environmental factors during transportation and storage. The growth of the middle class is particularly pronounced in emerging markets, where there is a surge in urbanization and economic development. This has led to an expansion of the textile and apparel industry in these regions, further driving the demand for polyester fibers.

However, increased awareness of environmental issues, including microfiber pollution, has heightened consumer concern. As people become more informed about the environmental impact of polyester microfibers entering water systems, there is a potential shift in consumer preferences away from synthetic fibers, impacting the demand for polyester products. Global economic conditions, geopolitical events, and market speculation influence raw material prices. Economic uncertainties and geopolitical tensions can lead to sudden spikes in oil and gas prices, affecting the overall cost structure of polyester production. Polyester is often chosen for its affordability. Sudden increases in raw material prices that result in higher production costs may limit the ability of manufacturers to maintain competitive pricing. As a result, the above aspects will cause the market growth to decline.

By Form Analysis

On the basis of form, the market is segmented into solid and hollow. The hollow segment acquired a substantial revenue share in 2022. The air trapped within the hollow core of these fibers provides thermal insulation. Hollow polyester fibers are known for retaining warmth, making them suitable for thermal clothing, sleeping bags, and other applications where insulation is crucial. Hollow polyester fibers have a tubular or cavity-like structure running along the length of the fiber. This hollow core distinguishes them from solid fibers with a more traditional, compact structure. The hollow design can vary in size and shape depending on the manufacturing process and the intended application of the fiber.

By Grade Analysis

Based on grade, the market is fragmented into PET polyester and PCDT polyester. In 2022, the PET polyester segment held the highest revenue share. The most prevalent thermoplastic polymer resin, polyethylene terephthalate (PET) polyester, is resistant to alcohols, solvents, and moisture. It is utilized in the textile, packaging, and fabric industries. Additionally, it is utilized in fabricating automotive and electronic components using films. The increase in demand for PET in the production of packaging materials for food products, such as containers for fruits and beverages, is a significant factor propelling the segment. Furthermore, the market expansion is propelled by the versatility of PET, which is attributed to its numerous advantageous properties, including high strength, rigidity, flexibility, and hardness.

By Product Type Analysis

By product type, the market is classified into polyester filament yarn (PFY) and polyester staple fiber (PSF). The polyester filament yarn (PFY) segment recorded a remarkable revenue share in 2022. Polyester filament yarn (PFY) is a viable option in the textile sector due to its superior strength. It is utilized in knitting and weaving to produce polyester fabrics, including curtains, bedspreads, bed linens, and draperies, among other consumer goods and home furnishings. On a global scale, PFY, a textile manufactured from polyethylene terephthalate polyester, is in high demand. These filaments find extensive application in contemporary fiber manufacturing sectors. Additionally, PFY with high tenacity is utilized in producing lightweight fabrics like organdie and voile. In contrast, PFY, with regular tenacity, is employed to manufacture lingerie, shirts, and blouses.

By Application Analysis

On the basis of application, the market is divided into textile & apparel, home furnishing, automotive & transportation, industrial, and others. The home furnishing segment covered a considerable revenue share in 2022. Polyester fibers produce bedding items such as pillows, duvets, comforters, and mattress pads. The fibers provide loft and resilience, offering a comfortable and supportive sleep surface. Additionally, polyester-filled bedding is often hypoallergenic, making it suitable for individuals with allergies. Polyester fibers are commonly employed in the manufacturing of carpets and rugs. The fibers provide softness, resilience, and resistance to stains. Polyester rugs are known for their rich colors and are often used in areas with high foot traffic due to their durability.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America region acquired a substantial revenue share in 2022. The global supply chain dynamics and trade policies have influenced sourcing decisions in North America. Polyester fibers, being a globally traded commodity, are subject to considerations related to supply chain resilience, cost-effectiveness, and geopolitical factors. Manufacturers in North America are investing in research and development to create high-performance fibers, specialty textiles, and smart fabrics. These inventions cater to the evolving needs of industries such as sports and outdoor apparel, automotive, and medical textiles.

Recent Strategies Deployed in the Market

• Jun-2023: Green Group SA. took over Expert Cleaning Services, a Consumer services company in Canada. Through this acquisition, Green Group SA. would bolster the range of sustainable solutions available for industrial clients in Romania.
• Mar-2023: Reliance Industries Limited took over Shubhalakshmi Polyesters Limited and Shubhlaxmi Polytex Limited, textile manufacturing companies in India. Through this acquisition, Reliance Industries Limited would bolster its Polyester business portfolio.
• Mar-2023: Indorama Ventures Public Company Limited came into partnership with Polymateria Ltd., a British technology company developing biodegradable plastic alternatives. Through this partnership, Indorama Ventures would develop an innovative approach for managing essential items such as face masks and wipes after they have been utilized.
• Jan-2023: Stein Fibers Ltd. took over Fibertex Corporation, a textile manufacturing company in Aalborg. Through this acquisition, Stein Fibers would enhance its prominent fiber product lineup in North America, facilitating improved customer service for both companies.

List of Key Companies Profiled

• Reliance Industries Limited
• Toray Industries, Inc.
• Sinopec Group (China Petrochemical Corporation)
• The Bombay Dyeing & Manufacturing Company Ltd. (Wadia Group)
• Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
• Green Group SA.
• W. R. Grace & Co. (Standard Industries)
• Markische Faser GmbH
• Stein Fibers Ltd.
• Nan Ya Plastics Corp. (NPC)

Global Polyester Fiber Market Report Segmentation

By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Solid
• Hollow

By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• PET Polyester
• PCDT Polyester

By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Polyester Staple Fiber (PSF)
• Polyester Filament Yarn (PFY)

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Textile & Apparel
• Automotive & Transportation
• Home Furnishing
• Industrial
• Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA