Global Polyester Fibre Market to Grow at a CAGR of 3.9% During 2024-2032, Driven by the Growing Demand from the Textile Industry

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.

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Market Analysis by Source, Product, 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, the market can be segmented into polyester staple fibre (PSF) and polyester filament yarn (PFY) segments.
• By 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.
• Based on application, the market 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 (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) 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, China Petroleum & Chemical Corporation., Toray Industries, Inc., Greenfiber International S.A., Fiber Industries, Stein Fibers, LTD, and Far Eastern New Century Corporation, 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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