Polyester Fiber Market in Asia Pacific have 80% share of total market and is likely to grow in the forecast period. Europe along with North America will witness sluggish growth due to shift in consumer trends towards application of organic fabrics in apparels and home textiles products.
The polymers fiber primary raw material is extracted from crude oil, volatile in crude oil prices may fluctuate the prices of polymers. Fluctuation in raw materials price may restrict polyester fiber market growth in the coming years.
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Polyester fiber has wide range of application in infrastructure and building industry which is likely to augment the polyester fiber market over the forecast years. Rising demand from the countries such as US, China and India for superior quality flooring carpet in residential and non- residential building is fostering growth for the market.
Textile industry have several applications of polymers in home textiles, apparels and carpet due to its tear-resistance and firm strength properties. High demand from textile industry by its wide application in mattress, apparels and textile products is likely to boost polyester fiber market in future timeframe.
Prominent players dominating the polyester fiber market are:
- Sarla Performance
- Markische Faser
- William Barnet
- Stein Fibers
- Kayavlon Impex
- and Indorama Ventures
- Renga Polymers
Market is challenged by few of its substitutes products such as cotton, nylon and wool. Although polyester fiber cost-effective and superior properties over its substitute products makes it favorable materials in the textile industry. Rising application of superior and cost-efficient product, to manufacture better quality fabric is likely to drive the market over the forecast timeframe.
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By product the market is categorized into as solid and hollow. This segment is likely to witness growth at CAGR of 7% during the forecast period. Solid products likely to witness a potential growth in overall polyester fiber market due to its wide application in textile and construction industry over the forecast timeframe.
The product has wide range of application in carpets, cushioning, furniture covers, curtains and mattresses. Growing population in emerging economies is increasing the need for developed commercial spaces, infrastructure and residential complexes which is further augmenting the demand for home furnishing products. The global polyester fiber market is positively influenced through these factors by its widespread application in home furnishing, carpets and textiles materials which is likely to grow the segment at 6% CAGR over the forecast timeframe.
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