POLYESTER FIBER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The polyester fiber market is estimated to be valued at USD 103.33 Bn in 2024 and is expected to reach USD 174.32 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031. Polyester fiber is primarily made from recycled plastic bottles and provides various advantages over natural fibers. It is durable, wrinkle and shrink resistant, and retains its shape after several washing. These favorable properties have increased its application in the apparel, home furnishings, and industrial sectors. Moreover, factors such as rising disposable incomes, rapid urbanization, and changing lifestyles have boosted the sales of polyester textiles globally. However, concerns regarding non-biodegradability of polyester may hamper the market growth. Overall, the ease of manufacturing, low costs, and high utility of polyester fibers is expected to drive their demand in the coming years.
Market Dynamics
The key drivers propelling the polyester fiber market include rapid growth of the textile industry, favorable properties of polyester over natural fibers, and rising environmental consciousness. The textile sector has emerged as one of the largest industrial consumers of polyester globally due to high demands from apparel and home furnishings segments. Additionally, polyester fibers provide advantages such as low moisture absorption, wrinkle resistance, and high durability. This has increased its preference over cotton and other natural fabrics. Furthermore, polyester can be recycled unlike other materials, making it an eco-friendly option. However, issues pertaining to non-biodegradability of polyester pose a challenge. But ongoing research on developing biodegradable polyester may create new opportunities in the market.
Key Features of the Study
- This report provides in-depth analysis of the global polyester fiber market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global polyester fiber market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Reliance Industries Limited, Sarla Performance Fibers Limited, Märkische Faser GmbH, Poly Fiber Industries, Toray Industries Inc., Nirmal Fibers (P) Ltd, Indorama Ventures Public Company Limited, Stein Fibers LTD., Green Group S.A., Kayavlon, Diyou Fiber (M) Sdn Bhd, and Swicofil AG
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global polyester fiber market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global polyester fiber market
Market Segmentation
Market Segmentation
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