Acumen Research and Consulting, Recently Published Report on titled “Polyester Fiber Market Size, Share, Growth Outlook, Sales, Trends and Forecast, 2019-2026”.
LOS ANGELES, Jan. 20, 2020 (GLOBE NEWSWIRE) -- The global polyester fiber market is expected to grow at a CAGR of around 7.6% during the forecast period 2019 to 2026 and reach the market value of around US$ 185.4 billion by 2026.
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Asia- Pacific dominated the global polyester fiber market in the year 2018. The reason behind the predominance of Asia- Pacific are significant development of flooring and residential furnishing activities because of rising construction activities of residential and business buildings within the developing countries of China and India are expected to reinforce the regional market growth. Also, soaring attire associate in nursing article of clothing sector creates an upsurge within the demand for fast-fashion goods that propel the usage of the merchandise.Though, Asia-Pacific is relied upon to rise as the quickest developing locale regarding a piece of the pie. Most polyester fiber consumption has conjointly currently migrated to Asia, wherever the invasive textile trade has been intense increasing amounts of product. China is out and away the most important shopper of polyester fibers, and exports massive amounts of finished product, together with attire, curtains, and bedding, round the world.Asia-Pacific is anticipated to dominate the polyester staple fiber market throughout the forecast amount, because of increasing demand for polyester staple fiber from end-use industriessuch as automotive, apparel, as well as economic progress, growing population, rising per capita financial gain and dynamical lifestyles in countries like China and Asian nation.
Europe is expected to register the highest CAGR during the forecast period in the global polyester fiber market. The European market control a considerable market share in 2018. In 2017, the European Union (EU) was the leading bourgeois of apparels, control over 34% of the worldwide imports. This soaring demand beside positive outlook of home furnishing and residential textile sectors is bolstering the merchandise demand within the region.
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Apparel has dominated the application type segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period from 2019 to 2026.This is in the main attributed to the exceptional characteristics of the fiber, which incorporates fast drying, high sturdiness, wonderful physical property, high wrinkle resistance, light-weight, and high form retention. These options realize application in fashion business wherever the vesture and attire need wrinkle free and fade resistant properties.
Solid fibers segment dominated the polyester fibermarket on the basis of product typein the year 2018.Solid fiber exhibits glorious strength, even weaving of the fibers, high sturdiness, smart finishing, and simple handiness. The phase had a considerable polyester market share in 2018.and features a vital aesthetic charm, that finds application in home furnishings, apparels, apparel, nonwoven materials and merchandise.
Hollow fibers are usually utilized in fillers, that is additional utilized in quilts, pillows, and protecting coverings} on account of its good bulk, warmth, and high resilience characteristics. Positive outlook of protecting wear like coats and jackets in colder areas of North America and Europe conspicuously drive the consumption of the merchandise. The section is calculable to grow at a CAGR around 8% by 2026.
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Some of the key manufacturing companies include in the global polyester fiber market are Reliance Industries Limited, Indorama Ventures Public Company Limited, William Barnet and Son, LLC, GreenFiber International S.A., Sarla Performance Fibers Limited, MärkischeFaser GmbH, PolyFiber Industries, Toray Industries, Inc, KayavlonImpex Pvt. Ltd, and Nirmal Fiber s (P) Ltd. The companies in the global polyester fiber market are primarily focused towards the development and innovation in the product and further enhance its long-term agreement with the end users to enhance its global market position in the market during the forecast period.
Some of the key observations regarding global polyester fiber industry include:
- The current global demand outlook for polyethylene terephthalate (PET)/polyester remains broadly weak given the uncertainty surrounding the trade war between the USA and China and the overall slowdown in economic growth among major consumer markets.
- However, over the long-term, global increase in polyester consumption is predicted to be at a CAGR of about 6 in line with cent. Contrary to the global scenario, the modern-day home polyester enterprise keeps to develop at a wholesome charge pushed by developing demand for synthetic fibres and plastic-based packaging products.
- The basic building blocks of polyester are mono-ethylene glycol (MEG) and purified terephthalic acid (PTA), which are derivatives of ethylene and Paraxylene (PX), respectively. While the prices and margins for PX and MEG have been declining due to excess capacities, those for PTA and PET chips continue to remain firm supported by a healthy demand environment.
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