Global PET Felt Market Report and Forecast 2024-2032

Global PET Felt Market Outlook

The global PET felt market size is estimated to exhibit a CAGR of 9.20% in the forecast period of 2024-2032. The major market drivers are the growing usage of the product as hanging screens or acoustic panels to provide aesthetic appearance and minimise sound transmission in the construction sector.

Key Trends in the Market

PET or polyethylene terephthalate felt is a soft felt fabric that is produced from recycled PET water bottles and containers. Its properties such as high strength, durability, lightweight, and flexibility, make it applicable for acoustic panels and hanging screens, among others.

• Growing demand for sustainable products in the interior designing sector is one of the crucial PET felt market trends. PET felts are manufactured from recycled water or soda bottles and provide a green solution for eco-conscious consumers.

• PET felt is widely implemented in residential and commercial buildings’ decor for providing customised ceiling designs such as suspended acoustic panels, dynamic acoustic control, sculpted ceilings, and three-dimensional ceiling structures, among others.

• Ongoing research and development by manufacturers and designers to enhance the versatility and applications of the material also provides impetus to the PET felt market growth. Some of these developments include panels that remove low-frequency built-ups and unwanted reflection and panels with insulation, acoustic conditioning, and recyclability among others.

Market Analysis

Based on size, the market is categorised into above 25 mm, 15-25 mm, 10-14 mm, and less than 10 mm, among others. On the basis of material, the market is bifurcated into virgin polyester resin and recycled PET. The PET felt market segmentation, based on application, includes acoustic ceiling panel, acoustic ceiling baffle, and acoustic hanging screens, among others. The major regional markets of PET felt are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the PET felt market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Soften Oy 

• De Vorm  

• JAuto India Private Limited 

• Dual Ulsan Co Ltd 

• Suzhou Greenish New Material Technology 

• Others

Market Share by Size

10-14 mm occupies a significant portion of the global PET felt market share as the felt of this thickness range provides a balance between durability and sound absorption properties. Furthermore, it is easier to install, due to which it finds widespread applications in acoustic panels and hanging screens where superior sound dampening is required. Additionally, it provides a visually appealing appearance to interiors, which makes it suitable for residential and commercial spaces that require a blend of functionality and aesthetics.

Market Share by Region

As per the regional PET felt market analysis, the Asia Pacific accounts for a substantial share of the global market owing to the flourishing textile sector in the region. Moreover, the high consumption of PET plastic bottles boosts the production of eco-friendly products and solutions, including PET felt. Several government initiatives aimed at promoting plastic recycling are also a major factor aiding the market. Additionally, rapid urbanisation and an increase in construction activities in developing economies are fuelling the interior designing sector, creating lucrative opportunities for the market growth.

Competitive Landscape

Soften Oy, established in 2007 and headquartered in Turku, Finland, is a provider of acoustic interior designing solutions. Some of its popular products include space dividers, lamps, and acoustic panels, among others.

De Vorm, a manufacturer of interior design products and sustainable materials, was founded in 2005. The company, based in Arnhem, the Netherlands, provides products made from PET felt such as acoustic panels, furniture, and lighting.

JAuto India Private Limited, incorporated in 2019, and based in Andhra Pradesh, India, is a transport equipment manufacturer. The company provides automotive and special, retail and industrial, and branded products, among others.

Other PET felt market players include Dual Ulsan Co Ltd, and Suzhou Greenish New Material Technology, among others.

Key Highlights of the Report