Chicago, Nov. 06, 2023 (GLOBE NEWSWIRE) — The Global Polyester Fiber Market is predicted to be USD 102.2 billion in 2023 and is projected to succeed in USD 151.6 billion by 2028, at a CAGR of 8.2% from 2023 to 2028, as per the recent examine by MarketsandMarkets™. Demand for polyester fiber is rising throughout a variety of functions, together with automotive, textile and home furnishing, amongst others. Additionally, the recyclability of polyester fiber has elevated demand for polyester fiber in recent years.
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150- Market Data Tables
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List of Key Players in Polyester Fiber Market:
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Zhejiang Hengyi Group Co., Ltd. (China)
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Reliance Industries Ltd. (India)
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Indorama Venture Public Company Ltd. (Thailand)
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Toray Industries Ltd. (Japan)
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Sinopec Yizheng Chemical Fiber Limited Liability Company (China)
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Alpek S.A.B DE C.V. (Mexico)
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Diyou Fiber (M) Sdn Bhd (Malaysia)
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Bombay Dyeing (India)
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Green Group SA (Romania)
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Others
Drivers, Restraints, Opportunities and Challenges in Polyester Fiber Market:
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Drivers: Polyester fiber’s adaptability to varied functions
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Restraints: Polyester’s restricted breathability
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Opportunities: Various customization wants
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Challenge: Microplastic air pollution as a consequence of extreme use
Key Findings of the Study:
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Solid polyester fiber is predicted to account for the most important market share within the forecasted interval, by way of each worth and quantity.
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PET Polyester Fiber is predicted to witness the very best CAGR between 2023 to 2028
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Polyester Filament Yarn to witness highest CAGR.
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Textile & Apparel section to dominate the polyester fiber market.
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Asia Pacific account for the most important market share and the very best CAGR within the international polyester fiber market
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Based on the applying, the market has been divided into a number of functions, equivalent to textile & attire, home furnishing, automotive & transportation, and others. Polyester fiber’s versatility and vary of properties make it appropriate for a broad spectrum of functions, from trend and home textiles to industrial and technical makes use of. Its resistance to moisture, sturdiness, and ease of upkeep makes it a dependable selection in varied industries. The textile & attire is predicted to dominate these functions within the international polyester fiber market. This dominance of polyester fiber in textile business is because of its wrinkle resistance, shade retention, and quick-drying properties.
Based on the shape, the polyester fiber market is segmented into two classes primarily based on kind that are strong and hole. The strong polyester fiber is predicted to steer the market and is predicted to witness a surge in demand, accompanied by a powerful Compound Annual Growth Rate (CAGR), owing to its distinctive versatility and noteworthy properties. Its ease of upkeep and cleansing makes it a most popular selection for home furnishings, carpets, and fabric. Solid polyester fiber is a well-liked selection due to its sturdiness and resilience, withstanding the check of time and put on, a characteristic extremely prized in merchandise that require longevity and energy.
Based on the grade, there are two grades of polyester fiber thought of within the report specifically PET polyester fiber and PCDT polyester fiber. PET polyester fiber section lead the worldwide polyester fiber market and likewise anticipated to witness a excessive CAGR in comparison with PCDT polyester fiber. PET polyester fiber’s affordability, robustness, and flexibility are the explanations behind its broad enchantment. It is also used in a wide range of industrial functions, clothes, and textiles. PET polyester is a well-liked choice for a lot of functions as a result of it combines energy, resistance to deterioration, and resilience to environmental parts. Additionally, PET polyester fiber is extremely recyclable and appropriate to be used in sustainable and eco-friendly functions, which is according to the rising emphasis on environmental conservation all over the world. In distinction, the broader market development of PCDT polyester fiber is impeded by its extra restricted vary of functions, regardless of its possession of sure desired qualities.
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Based on product kind, there are two varieties of polyester fibers names polyester filament yarn and polyester staple fiber. Because of its adaptability and use in a wide range of functions, equivalent to textiles, clothes, home furnishings, industrial functions, and technical functions, polyester fiber yarn is extremely wanted. Its energy, resilience to many climate circumstances, and sturdiness make it extraordinarily invaluable as a consequence of this purpose polyester filament yarn is predicted to witness the upper CAGR.
Based on area, from 2023 to 2028, the polyester fiber market is projected to develop with the very best compound annual development price (CAGR) within the Asia Pacific area. China accounted for the most important market share of the Asia Pacific polyester fiber market in 2022. Due to the appreciable and fast-growing inhabitants within the area, there’s a better want for attire, textiles, and home furnishings, a lot of that are product of polyester fiber and client spending has surged consequently. This demand is basically pushed by the textile and garment business within the Asia-Pacific area, which is well-known for its manufacturing prowess. Furthermore, the expansion of the center class in nations like China and India has elevated disposable money, which has led to a spike out there for items product of polyester fibers. In addition, the area’s spectacular financial growth has supported the rising demand for polyester fibers in a wide range of industries, together with automotive and development, together with the event of commercial functions and infrastructure.
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