POLYESTER FIBER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Takeaways from Analyst

The polyester fiber market growth is driven by increasing demand from the apparel industry where polyester is widely used as it offers advantages like durability, stain resistance, and easy maintenance over cotton. Asia Pacific currently dominates the market owing to rising industrialization and growing middle-class population in countries like China and India which are boosting the apparel sector. High demand for polyester from Asian textile hubs like China and India is likely to sustain the region's dominance in the future as well.

However, factors like availability of low-cost alternatives and stringent environmental regulations regarding plastic waste generation pose threats to market growth. Some key players are shifting focus towards the production of recycled polyester using plastic waste to overcome such restraints and capitalize on the opportunity of sustainable fibers. Man-made cellulosic fibers like viscose and modal are emerging as alternatives due to better moisture absorbency and breathability, which could hamper polyester demand from the apparel industry. Innovation in functional fabrics have opened doors for usage of technical polyester in segments like home textiles and automotive textiles besides apparel, creating new avenues for players.