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Polyester Fiber Market worth $151.6 billion by 2028, at a CAGR of 8.2%

Published: January 17, 2024
Author: TEXTILE VALUE CHAIN

The report Polyester Fiber Market by Form (Solid and Hollow), Grade (PET Polyester Fiber and Pcdt Polyester Fiber), Product type (PFY and PSF), Application (Textile & Apparel, Home Furnishing, Automotive), and Region – Global Forecast to 2028″, is estimated at USD 102.2 billion in 2023 and is projected to reach USD 151.6 billion by 2028, at a CAGR of 8.2% from 2023 to 2028. The expansion of this market can be ascribed to the rising demand stemming from various applications such as textile, automotive, home furnishing, industrial and others. Additionally, there is a growing appetite for polyester fiber in the construction sector, which is serving as a driving force for the global growth of polyester fiber.

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• 190 Market data Tables
• 53 Figures
• 243 Pages and in-depth TOC on “Polyester Fiber Market – Global Forecast to 2028”

Some of the prominent key players are:

  • Zhejiang Hengyi Group Co., Ltd. (China)
  • Reliance Industries Ltd. (India)
  • Indorama Venture Public Company Ltd. (Thailand)
  • Toray Industries Ltd. (Japan)
  • Sinopec Yizheng Chemical Fiber Limited Liablity Company (China)
  • Alpek S.A.B DE C.V. (Mexico)
  • Diyou Fiber (M) Sdn Bhd (Malaysia)
  • Bombay Dyeing (India)
  • Green Group SA (Romania)

Drivers: Polyester fiber’s adaptability to various applications

Polyester fiber plays a crucial role in today’s textile industry because of its exceptional adaptability to a wide array of applications. Its intrinsic qualities such as strength and durability as well as other significant variables contribute to its flexibility. Polyester is durable, thus its applications in apparel, home textiles, and industrial items guarantee that the finished goods can withstand the rigors of regular use. Polyester can be produced as filament and staple fibers, among other textile forms. This variety of forms gives manufacturers the freedom to choose the form that best suits their particular purpose, be it making durable industrial materials or cozy apparel.

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Textile & Apparel segment hold the largest share in the global polyester fiber market.

The textile and apparel sector continues to maintain its unchallenged leading position in the huge and constantly changing polyester fiber market. Because of its continued popularity, it is in the forefront, especially when compared to many other applications. There are multiple variables that lead to this supremacy. Because of its special combination of characteristics, including remarkable durability, resistance to wrinkles, and color retention, polyester fiber is an excellent choice for textiles and apparel. This adaptability is present in many different goods, ranging from high-performance sporting to daily wear. The polyester fiber’s potential has been completely realized by the textile and apparel industries, allowing them to create a wide range of styles that satisfy different customer tastes and current trends.

The textile and apparel industry is still at the forefront of innovation, actively supporting technological advancements and environmentally conscious efforts. The development of sustainable and recycled polyester fibers guarantees its continued dominance in the polyester fiber market, precisely coinciding with the increasing global emphasis on environmental responsibility. The polyester fiber industry is anchored by the textile and apparel sector, which sets the bar for other uses due to its diverse appeal and ongoing significance.

Asia Pacific holds the maximum share along with the maximum CAGR in terms of both, volume, and value.

The Asia-Pacific region took a commanding position in the global polyester fiber market in 2022, securing the largest market share. Furthermore, from 2023 to 2028, this region is expected to experience the greatest Compound Annual Growth Rate (CAGR). Because of the large and quickly growing population in the Asia-Pacific region, polyester fiber has found a home in this vibrant and promising market. This region is home to almost 60% of the global population, thus it is not surprising that polyester fiber is used so widely in so many different applications. The spectacular economic growth of the region has also contributed to the development of industrial applications and infrastructure, as well as the increased demand for polyester fibers across a variety of industries, including construction and the automobile industry. The Asia-Pacific region’s dynamic customer base and governmental backing for the textile industry are key factors in satisfying the world’s demand for polyester fiber.

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