Polyester Fiber Market Estimated to Reach $151.6 billion by 2028 Globally, at a CAGR of 8.2%, says MarketsandMarkets™

Grand News Network | November 7, 2023

Chicago, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Polyester Fiber Market is expected to be USD 102.2 billion in 2023 and is projected to reach USD 151.6 billion by 2028, at a CAGR of 8.2% from 2023 to 2028, as per the recent study by MarketsandMarkets™. Demand for polyester fiber is rising across a range of applications, including automotive, textile and home furnishing, among others. Additionally, the recyclability of polyester fiber has increased demand for polyester fiber in recent years. 

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List of Key Players in Polyester Fiber Market:

  1. Zhejiang Hengyi Group Co., Ltd. (China)
  2. Reliance Industries Ltd. (India)
  3. Indorama Venture  Public Company Ltd. (Thailand)
  4. Toray Industries Ltd. (Japan)
  5. Sinopec Yizheng Chemical Fiber Limited Liability Company (China)
  6. Alpek S.A.B DE C.V. (Mexico)
  7. Diyou Fiber (M) Sdn Bhd (Malaysia)
  8. Bombay Dyeing (India)
  9. Green Group SA (Romania)
  10. Others

Drivers, Restraints, Opportunities and Challenges in Polyester Fiber Market:

  1. Drivers: Polyester fiber's adaptability to various applications
  2. Restraints: Polyester's limited breathability
  3. Opportunities: Various customization needs
  4. Challenge: Microplastic pollution due to excessive use

Key Findings of the Study:

  1. Solid polyester fiber is expected to account for the largest market share in the forecasted period, in terms of both value and volume.
  2. PET Polyester Fiber is expected to witness the highest CAGR between 2023 to 2028
  3. Polyester Filament Yarn to witness highest CAGR.
  4. Textile & Apparel segment to dominate the polyester fiber market.
  5. Asia Pacific account for the largest market share and the highest CAGR in the global polyester fiber market

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Based on the application, the market has been divided into several applications, such as textile & apparel, home furnishing, automotive & transportation, and others. Polyester fiber's versatility and range of properties make it suitable for a broad spectrum of applications, from fashion and home textiles to industrial and technical uses. Its resistance to moisture, durability, and ease of maintenance makes it a reliable choice in various industries. The textile & apparel is predicted to dominate these applications in the global polyester fiber market. This dominance of polyester fiber in textile industry is due ...

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