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Global Polyester Fibre Market to Grow at a CAGR of 3.9% During 2021-2026, Driven by the Growing Demand in the Textile Industry

According to a new report by EMR titled, ‘Global Polyester Fibre Market Report and Forecast 2021-2026’, the market attained a volume of 53 MMT in 2020. The industry is further expected to grow at a CAGR of 3.9% in the forecast period of 2021-2026 to reach a volume of 68 MMT by 2026.

Polyester fibre is the largest produced man-made fibre and accounts for a significant share in the global fibre market. It finds major application in textile and apparel industry. Polyester production uses ethylene glycol, a by-product obtained from oil refining industry, as a primary raw material. However, it is also produced from recycled polyester and PET bottles.

The Asia Pacific is one of the largest regions in the global market for polyester fibre and is expected to witness a robust growth in the forecast period. China leads the polyester fibre production in the region, followed by India. The abundant availability of ethylene glycol, owing to the presence of large petroleum refining industry, is a key factor for China’s dominance in polyester production. Additionally, the utilisation of high pollution coal by various players such as Jiangsu Hengli Chemical Fibre Co., Ltd. and others is expected to boost the production. However, the utilisation of high pollution coal may cause environmental concern. Teijin (TSE: 3401) in 2019, started production of linen like polyester fibre for apparel application. Sinopec Yizheng Chemical Fibre by 2023 plans to boost its polyester fibre business by setting up PTA and TET Resin plants, with annual capacity of 3 million tons. Reliance Industries Limited in India started an initiative, in 2019, to produce polyester yarn form PET bottles in collaboration with Raymond Limited. Meanwhile, the India polyester market is expected to witness a considerable growth due to reduction in import duty by the government in 2019. Moreover, the growing preference for polyester produced from PET bottles or biodegradable polyester by companies such as Unifi, Inc. (NYSE: UFI), and DuPont de Nemours, Inc (NYSE: DD), among others is projected to further propel the market growth.

Market Analysis by Source, Product Type, Form, Grade, Application, and Region:

  • The market on the basis of source can be divided into virgin, recycled, and blended, among others.
  • Based on product type, the industry can be divided into polyester staple fibre (PSF) and polyester filament yarn (PFY) segments.
  • Based on form, the market can be bifurcated into solid and hollow.
  • The market is divided into PET polyester and PCDT polyester on the basis of grade. 
  • The market based on applications is segmented into apparels, home textiles, industrial textile, and non-woven fabrics, among others.
  • The regional markets for polyester fibre include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is driven by the rising demand for the product in the apparel industry. 
  • The abundant availability of raw materials is also aiding the growth of the market.
  • The higher demand for polyester fibre for applications like industrial textiles, carpets, and others is further boosting the industry growth.
  • The market is further being propelled by the increasing urbanisation and the rising consumer disposable income, particularly in developing countries, as these factors drive the demand for various end products of polyester fibre.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for polyester fibre for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the sources, product types, forms, grades, applications, and regions of polyester fibre.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global polyester fibre market are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, Tongkun Group Co., Ltd, Reliance Industries Limited, and Sinopec Yizheng Chemical Fibre Company Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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