Polyester Staple Fiber (Psf) Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Polyester Staple Fiber (Psf) Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The polyester staple fiber (PSF) market is projected to register a CAGR greater than 4% during the forecast period.

Polyester staple fiber is commonly used in spinning and non-woven weaving. PSF is mostly utilized in cushion and couch fiber fillings. It is also utilized in the production of polyester spun yarn, which is subsequently knitted or woven into textiles.

• Over the medium term, the major factors driving the market studied are the increasing demand from the textile industry for making apparel and rising demand from the home furnishing segment. Growing awareness regarding recycled polyester staple fiber due to increasing environmental concerns is expected to offer various lucrative opportunities for the growth of the market.
• By application, the apparel segment is expected to dominate the market due to the increase in the usage of polyester staple fiber to make apparel as it is cheaper than cotton.
• On the flip side, stringent legal and political regulations on manufacturers are restraining the polyester staple fiber market.
• The Asia-Pacific region dominated the polyester staple fiber market globally, with the largest consumption from countries like China and India.

• Polyester staple fiber (PSF) is a synthetic man-made fiber made directly from purified terephthalic acid (PTA) and mono ethylene glycol (MEG) or polyethylene terephthalate (PET)/polyester waste or from recycled post-consumed PET bottle flakes.
• The increasing use of polyester staple fiber in sportswear, activewear, etc., is driving its demand in the garment industry, propelling the market forward.
• The polyester staple fiber market is also benefiting from a surge in its use as a cotton alternative due to attributes such as cost, thinness, and availability in a variety of styles and colors.
• In addition, there are various high-tech kinds of polyester staple fiber that have antibacterial qualities and provide better protection against odor and diseases. The polyester staple fiber market is predicted to grow due to these characteristics throughout the forecast period.
• Owing to all the above-mentioned factors, the market is expected to grow rapidly over the forecast period.

• The Asia-Pacific region is expected to dominate the polyester staple fiber market during the forecast period.
• In countries like China, India, and South Korea, owing to an increase in demand from various applications in apparel, automotive, and home furnishing, coupled with rising population, changing lifestyles, economic growth, and rising per capita income, the demand for polyester staple fiber has been increasing.
• The rising demand from the home furnishing segment for making pillows, sofas, bed sheets, carpets, and rugs is increasing the demand for polyester staple fiber in the region and, thus, propelling its market.
• Sustainable fashion made from recycled and ecologically friendly items such as polyester has made staple fiber more popular among customers. The polyester staple fiber industry is being boosted by the availability of sustainable clothes in vivid colors, fashionable designs, and appealing patterns.
• According to the Ministry of Textiles India, the country is the sixth-largest exporter of textiles and apparel in the world. Owing to the major applications of PSF in the textile industry, the demand in the market is expected to increase in the years to come.
• Owing to the above-mentioned factors, the demand for polyester staple fiber in the region is estimated to grow during the forecast period.

The polyester staple fiber (PSF) market is highly fragmented, with the top five players accounting for a minimal share of the market. Some of the key companies (not in any particular order) in the market include Toray Industries Inc., Alpek SAB de CV, Reliance Industries Limited, Bombay Dyeing, and W. Barnet GmbH & Co. KG.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support