The Global Polyester Staple Fiber Market is expected to grow at a value of more than $45.2 billion by 2030, with a growing CAGR of 6.21%.
Polyester Staple Fiber Market: Introduction
Polyester Staple Fiber (PSF) is produced using PTA and MEG directly, or potentially PET Chips as well as from Recycled PET Flakes. PSF delivered utilizing PTA and MEG or PET CHIPS is known as Virgin grade and PSF produced using Recycled PET FLAKES is called Recycled grade. Virgin PSF is generally costlier than reused PSF.
Polyethylene terephthalate (PET), when utilized as fibers and filaments, is known as polyester. Polyester fibers are used in various applications, for example, carpets, rugs, fiberfill and non-woven textures. They are additionally utilized in industrial applications, apparel and home. The method involved with assembling polyester fiber is fascinating. It is an artificial man-made fiber. Polyesters as virgin materials are generally factory-made out of oil from which the constituent acids and alcohols are derived.
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Market overview
The market is essentially determined by the developing interest for polyester staple fiber in the textile industry and the rising reception of polyester staple fiber in car interiors, filtration, and home furnishing are serving the expansion of the worldwide market. Besides, growing inclination towards renewable and biodegradable synthetic fibres and developing interest for reused polyester staple fiber thus creating expansion avenues for the market over the estimate time period.
Globally, rising interest for apparel, expanding auto industry, growing government initiative, and expanding construction activities in different regions, are the key development drivers of the global polyester staple fiber market. Moreover, new opportunities will be created for the global polyester staple fiber market, inferable from the expanding prominence of bio-based polyester staple fibers, and increasing reception of polyester staple fibres for application in newer industrial verticals. However, fluctuating costs and supply of crude petroleum and complex production processes are the key limitations in polyester staple fiber market progression.
The Covid-19 pandemic has restricted the functioning of the apparel and textile industry in different areas, attributable to the cross-country lockdown. As an outcome, of the COVID-19outbreak, supply chains, strategic tasks, and labourer accessibility have endured due to which the functioning of the apparel and textile industry has been tolerably delayed. And since polyester staple fibres are to a great extent utilized in the apparel and textile industry, the diminishing working of this end-use industry is straightforwardly restricting the polyester staple fiber market development during the Coronavirus outbreak.
Market segmentation: Analysis
The Global Polyester Staple Fiber Market is segmented by application, and region.
On the basis of application – Automotive, Home Furnishings, Apparel, Filtration, Construction, and Personal Care & Hygiene.
According to the application segmentation, Apparel section is anticipated to rule the market owing to the prompt expansion in the utilization of polyester staple fiber for making apparel as it is less expensive than cotton.
On the basis of region – North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Considering the geographical ambit, Asia-Pacific ruled the polyester staple fiber market across the globe with the biggest utilization from nations like China and India.
Key player in the Global Polyester Staple Fiber Market are:
- Bombay Dyeing
- China Petrochemical
- Indorama Ventures
- Reliance Industries
- TORAY INDUSTRIES
- Tongkun Group
- Zhejiang Hengyi Group
- Shenghong
- Xin Feng Ming Group
Top Key Players:-
- Toray Industries
- Alpek
- S.A.B. de C.V
- W. Barnet GmbH & Co. KG
- Bombay Dyeing
- Indorama Ventures Public Company Limited
- Xinda Corp.
- China National Petroleum Corporation
- Diyou Fibre (M) Sdn Bhd.
- Huvis Corporation
- Petrovietnam Petrochemical
- Textile Fiber Joint Stock Company
- JB Ecotex
- Shubhalakshmi Polyesters Ltd.
- Arora Fibres Ltd.
- Techfab India Industries Ltd.
- Meadowbrook Inventions, Inc.
- Komar Alliance
- Zippercord LLC.
- Phillystran, Inc.
- Engineered Fibers Technology
- Garvin Industrial Products
- Fiber Innovation Technology, Inc.
- MYI® MINING FIBER YARN TEXTILE PRODUCTION INDUSTRY & TRADE
- M&G Chemicals
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Frequently Asked Questions (FAQ):
1. How has the global polyester staple fiber market performed so far and how will it perform in the coming years?
2. What has been the impact of COVID-19 on the global polyester staple fiber market?
3. What are the key regional markets?
4. What is the breakup of the market based on the origin?
5. What is the breakup of the market based on the product?
6. What is the breakup of the market based on the application?
7. What are the various stages in the value chain of the industry?
8. What are the key driving factors and challenges in the industry?
9. What is the structure of the global polyester staple fiber market and who are the key players?
10. What is the degree of competition in the industry?
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