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Polyester Staple Fiber Market

Polyester Staple Fiber Market

Polyester Staple Fiber Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

150

Base Year:

2021

Date

Feb - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1156

Segments Covered
  • By Product Solid, Hollow
  • By Origin Virgin, Recycled, Blended
  • By Application Automotive, Home Furnishing, Apparel, Filtration, Others
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 27.39 Billion
Revenue 2028Revenue 2028: USD 43.35 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 6.21%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Polyester Staple Fiber Market Share

Market Synopsis:

Global Polyester Staple Fiber market is valued at USD 27.39 Billion in 2021 and is estimated to reach a value of USD 43.35 Billion by 2028 at a CAGR of 6.21% during the forecast period.

Over the projected period, the market is expected to be driven by increased demand for sustainable textiles and developing application industries in Asia Pacific. Polyester Staple Fiber is an important component of the global textile industry's growth. It's a versatile man-made fibre with unique qualities that help it meet demand in a variety of industries, including fibre filling, automotive, textiles, filtration, and home furnishings. Because of its advantages, product demand is likely to rise in the near future, propelling industry growth. Growing environmental awareness and the lower cost of PSF compared to cotton have increased PSF's use in the global market.

The coronavirus pandemic has limited the functioning of the apparel and textile industry in various regions, owing to the nationwide lockdown. Supply chains, logistic operations, and workforce availability have all suffered as a result of the coronavirus pandemic, causing the garment and textile industry's operations to be moderately hampered. And, because Polyester Staple Fiber are mostly used in the garment and textile industries, the decline of this end-use industry is directly constraining the growth of the polyester staple fibre market during the COVID-19 epidemic.

Polyester Staple Fiber Market Size, 2021 To 2028 (USD Billion)

Market Segmentation:

The global Polyester Staple Fiber market is segmented on the basis of Product(Solid,Hollow),Origin(Virgin,Recycled,Blended),Application(Automotive, Home Furnishing,Apparel,Filtration,Others),Region(North America,Europe,Asia Pacific,Latin America,Middle East & Africa). Based on product, the market is segmented as Solid and Hollow. By origin, market is segmented as Virgin, Recycled, and Blended. By application, the market is segmented as Automotive, Home Furnishing, Apparel, Filtration, and Others.

Below tree is interactive. You can click the nodes to get more information.

In 2020, the most popular product in the segment was solid polyester staple fibre. Over the next eight years, the market is likely to be driven by the rising textile manufacturing industry, notably in Asia Pacific's emerging economies. One of the main causes fuelling, PSF demand is its superior qualities over cotton, its alternative. In 2016, hollow polyester fibre was the second-largest product segment, and it is predicted to increase rapidly throughout the projection period. In the construction business, it has a wide range of applications.

The whole polyester staple fibre market is dominated by virgin fibre. It is more expensive and sanitary than other forms of PSF generated from diverse sources because it is made up of PTA and MEG or PET chips. Because of its superior quality, it has a wide range of applications in the garment and home furnishings industries.

Over the projected period, recycled polyester staple fibre is expected to expand at the fastest rate. It's frequently used as a fibre filler in goods like toys and pillows. Producers like Eco Intelligent Polyester are constantly recycling old polyester clothes and plastic bottles in order to manufacture new polyester.

Increasing Automotive Production Are Expected To Drive Growth Of The Market

Automobile carpets, seating textiles, side, roof, floor, and door panels, safety belts, tires, airbags, air filters, fuel filters, insulation materials, and more are all made from textile materials such as polyester staple fibre. According to the International Trade Administration (ITA), China is the world's largest automotive market, with the Chinese government expecting 35 million automobiles to be produced by 2025. According to OICA, Africa produced 776,967 passenger cars in 2018, which grew to 787,287 in 2019, representing a 1.3 percent raise. According to OICA, the number of light commercial vehicles produced in Canada climbed by 6.2 percent from 1,348,932 in 2018 to 1,431,904 in 2019. As a result, growing automation production will necessitate additional resources.

Increasing Building and Construction Spending To Drive Growth Of The Polyester Staple Fiber Market

The use of with asphalt cement is known to increase elements of the resulting concrete such as shear, tensile strength, and temperature stability. The demand for in the construction industry is gradually increasing as builders focus more on making their structures and constructions stronger to meet the severe rules imposed by a number of countries. Total construction was at a seasonally adjusted annual rate of 1,366,697 in February 2020, according to the US Census Bureau, which is 6.0 percent higher than the pace of 1,288,951 in February 2019. According to the International Trade Administration, the Chinese construction industry is expected to increase at a rate of 5% per year in real terms between 2019 and 2023. (ITA). The building and construction spending is also growing owing to the various government initiatives such as FDIs will act as a driver for the market during the forecast period.

Asia Pacific Polyester Staple Fiber Market to Grow at the Fastest CAGR

In 2016, Asia Pacific was the most important regional market, accounting for 60% of total sales. India, China, South Korea, and Taiwan are among the region's emerging economies, with high economic growth. Product demand has risen in the region as the population has grown and living conditions have increased. PSF demand in Europe is being boosted by increased exports from Asian countries and expanding product demand in application sectors. Over the projected period, abundant availability of raw materials, such as PET bottle flakes, is also predicted to drive product demand.

Volatility in Crude Oil Prices

The downstream products of crude oil, such as Purified Terephthalic Acid (PTA) and Monoethylene Glycol, are frequently employed as raw materials in the manufacturing of polyester staple fibre (MEG). As a result, the price of polyester staple fibre raw materials is affected by crude oil price fluctuations. The price of crude oil has fluctuated in recent years, according to the BP Statistical Review of World Energy. For example, the price of crude oil decreased from $98.95/bbl in 2014 to $52.39/bbl in 2015, increased from $43.73/bbl in 2016 to $71.31/bbl in 2018, and then decreased to $64.21/bbl in 2019. The price of polyester staple fibre also rises as a result of the uncertainty in crude oil prices. As a result, crude oil prices are volatile.

COVID-19 Impact on the Polyester Staple Fiber market:

The COVID-19 epidemic is having a major influence on the automotive sector. Automotive production has been disrupted, resulting in significant losses for the sector as a whole. Demand for new commercial cars in the EU remained low in June 2020 (-20.3 percent), according to the European Association of Automobile Manufacturers, however the rate of fall reduced compared to April and May. Three of the region's four largest markets saw double-digit percentage declines last month: Germany (-30.5 percent), Spain (-24.2 percent), and Italy (-12.8 percent), while France saw a tiny uptick (+2.2 percent). The demand for Polyester Staple Fiber has decreased dramatically as a result of the drop in car production, which is having a significant influence on the polyester staple fibre market.

Competitive Landscape:

Some of the major vendors in the Polyester Staple Fiber market is Toray Chemical Korea, Inc., W. Barnet GmbH & Co. KG, Alpek, S.A.B. de C.V., Reliance Industries Limited, Diuou Fibre (M) Sdn Bhd., Huvis Corporation, Indorama Corporation, Xinda Corp., China National Petroleum Corporation, Bombay Dyeing, PetroVietnam Petrochemical, and Textile Fiber Joint Stock Company.

The Polyester Staple Fiber is Segmented as Follows:

Parameter Details
Segments Covered
  • Product (Solid, Hollow)
  • Origin (Virgin, Recycled, Blended)
  • Application (Automotive, Home Furnishing, Apparel, Filtration, Others)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Toray Chemical Korea Inc.
  • W. Barnet GmbH & Co. KG
  • Alpek
  • S.A.B. de C.V.
  • Reliance Industries Limited
  • Diuou Fibre (M) Sdn Bhd.
  • Huvis Corporation
  • Indorama Corporation
  • Xinda Corp.
  • China National Petroleum Corporation
  • Bombay Dyeing
  • PetroVietnam Petrochemical
  • and Textile Fiber Joint Stock Company.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Polyester Staple Fiber Market to Reach Valuation of USD 43.35 Billion by 2028
In terms of revenue, the Global Polyester Staple Fiber Market is expected to reach USD 43.35 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.21% from 2022 to 2028. The growth in the Polyester Staple Fiber Market is due to rising demand from the textile industry for making appar...
FAQ
Frequently Asked Question
  • The global Polyester Staple Fiber valued at USD 27.39 Billion in 2020 and is expected to reach USD 43.35 Billion in 2028 growing at a CAGR of 6.21%.

  • The prominent players in the market are Toray Chemical Korea, Inc., W. Barnet GmbH & Co. KG, Alpek, S.A.B. de C.V., Reliance Industries Limited, Diuou Fibre (M) Sdn Bhd., Huvis Corporation, Indorama Corporation, Xinda Corp., China National Petroleum Corporation, Bombay Dyeing, PetroVietnam Petrochemical, and Textile Fiber Joint Stock Company..

  • The market is project to grow at a CAGR of 6.21% between 2021 and 2028.

  • The driving factors of the Polyester Staple Fiber include

    • Increasing Automotive Production

  • Asia Pacific was the leading regional segment of the Polyester Staple Fiber in 2020.