Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
The global polyester fibre market attained a volume of nearly 60.6 MMT in 2023. The market is further expected to grow at a CAGR of 3.9% during the forecast period of 2024-2032 to reach a volume of approximately 85.55 MMT by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
| Global Polyester Fibre Market Report Summary | Description | Value |
| Base Year | MMT | 2023 |
| Historical Period | MMT | 2018-2023 |
| Forecast Period | MMT | 2024-2032 |
| Market Size 2023 | MMT | 60.6 |
| Market Size 2032 | MMT | 85.55 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.9% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 4.5% |
| CAGR 2024-2032 - Market by Country | India | 4.8% |
| CAGR 2024-2032 - Market by Country | China | 4.3% |
| CAGR 2024-2032 - Market by Source | Recycled | 4.3% |
| CAGR 2024-2032 - Market by Application | Home Textiles | 4.4% |
| Market Share by Country 2023 | UK | 4.5% |
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Global Polyester Fibre Market Growth
Polyester fibres refer to a segment of synthetic fibre obtained by the reaction of terephthalic acid and ethylene glycol. These are long chains of polymers containing the ester group and are known for their physical properties such as high elasticity, strength, and resistance to abrasion and wrinkle resistance. The demand of polyester fibre market is driven by its advantageous performances that have quick drying properties owing to their hydrophobic nature, thereby it is most preferred for sports and outdoor clothing.
Global Polyester Fibre Market Analysis
The growth of the polyester fibre industry is primarily driven by the rising demand for sports apparel, quick-dry clothing, and outdoor activity equipment such as tents, sleeping bags, and waterproof liners, among others. Additionally, the increasing preference for polyester fibre over cotton owing to its abrasion resistance, higher strength, and anti-wrinkle properties is likely to aid the polyester fibre market growth.
The inflating demand from various industries such as automobile, electronics, and hospitality are projected to provide ample growth opportunities to the market. Additionally, the increasing application of polyester fibre in goods such as drapes, mattresses, carpets, and rugs for commercial and residential applications is expected to push the market further.
Global Polyester Fibre Industry Outlook
As per the industry reports, in 2021, the global apparel market began to recover, growing to USD 1.468 trillion as economies started to reopen and consumer spending rebounded. The United States saw a substantial recovery to USD 251 billion, and China’s market rebounded to USD 188 billion. India experienced a robust recovery, with its market reaching USD 80 billion, and the UK market growing to USD 78 billion, thus driving the polyester fibre industry revenue.
Further, by 2022, the global apparel market had recovered to USD 1.699 trillion, nearing pre-pandemic levels. The United States market increased to USD 276 billion, driven by strong consumer spending and economic recovery. China’s market saw a significant increase to USD 244 billion, reflecting its robust economic rebound. The EU-27 market improved to USD 246 billion, while India continued its upward trajectory, reaching USD 92 billion. The UK and Brazil markets showed modest growth, reaching USD 74 billion and USD 39 billion, respectively, while Canada’s market grew to USD 24 billion.
According to the World Economic Outlook, in 2022, the global economy grew by 3.5%, with advanced economies expanding by 2.6% and emerging markets and developing economies by 4.1%.
The United States is projected to grow by 2.1% in 2023 and 1.5% in 2024, showing a moderate decline. The Euro Area is forecasted to grow by 1.2% in 2023 and 1.0% in 2024, with Germany experiencing a contraction of 0.5% in 2023 but rebounding to 0.9% in 2024. France and Italy are expected to see slower growth, with France at 1.0% in 2023 and 1.2% in 2024, and Italy at 0.7% in both years. Spain is projected to grow robustly at 2.5% in 2023 but slow to 1.9% in 2024.
The polyester fibre market dynamics and trends are influenced by projections from UNDESA indicating that by 2030, the global urban population will increase to 5.167 billion, with an urbanization rate of 60.4%. In developed regions, the urban population is expected to reach 1.049 billion, achieving an urbanization rate of 81.4%. In less developed regions, the urban population is anticipated to grow to 4.117 billion, with an urbanization rate of 56.7%.
Africa's urban population will increase to 824 million, achieving an urbanization rate of 48.4%, while Asia's urban population will reach 2.998 billion, with 56.7% living in urban areas. Europe's urban population will grow to 572 million, with an urbanization rate of 77.5%. Latin America and the Caribbean will have an urban population of 626 million, with an urbanization rate of 83.4%. North America's urban population will increase to 334 million, with urbanization at 84.7%, and Oceania will see its urban population grow to 32 million, with an urbanization rate of 68.9%.
Polyester fibres are versatile and used in a wide range of applications, such as textiles, packaging, and industrial materials, driving the growth of the polyester fibre market.
- Polyester is more affordable to produce compared to natural fibres like cotton, offering a cost advantage.
- Polyester fibres are durable, resist shrinking and stretching, and dry quickly.
Production of polyester is energy-intensive and relies on non-renewable resources, contributing to pollution and waste.
- Polyester fibres may be less breathable and comfortable compared to natural fibres.
- The market is highly competitive, with numerous players leading to potential oversupply issues.
Innovations in recycling processes and sustainable production methods can drive polyester fibre market revenue.
- Increasing demand for synthetic fibres in emerging markets presents significant polyester fibre market opportunities.
- Rising consumer preference for eco-friendly and sustainable products boosts demand for recycled polyester fibres.
Stringent environmental regulations can increase production costs and affect profitability.
- Volatility in raw material prices, especially petroleum, can impact profit margins.
- Growing popularity of natural and other synthetic fibres poses a competitive threat to polyester.
Key Players in the Global Polyester Fibre Market and their Key Initiatives
Alpek S.A.B. de C.V.
- Acquired OCTAL to enhance global PET and PET sheet capabilities.
- Expanded polyester recycling operations with new facilities in North America.
Indorama Ventures Public Company Limited
- Acquired PET recycling assets in Poland to meet the sustainability aspect of the growing polyester fibre demand.
- Launched high-performance recycled polyester fibres for diverse applications.
TongKun Group Co., Ltd.
- Expanded polyester fibre production capacity with new manufacturing plants.
- Invested in advanced technologies for sustainable polyester fibre production.
Reliance Industries Limited
- Launched eco-friendly recycled polyester fibres from post-consumer PET bottles.
- Expanded production capacity with new state-of-the-art polyester manufacturing plants.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Global Polyester Fibre Industry Segmentation
“Global Polyester Fibre Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
- Virgin
- Recycled
- Blended
- Others
Market Breakup by Product
- Polyester Staple Fibre (PSF)
- Polyester Filament Yarn (PFY)
Market Breakup by Form
- Solid
- Hollow
Market Breakup by Grade
- PET Polyester
- PCDT Polyester
Market Breakup by Application
- Apparels
- Home Textiles
- Industrial Textile
- Non-Woven Fabrics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
| CAGR 2024-2032 - Market by | Country |
| India | 4.8% |
| China | 4.3% |
| Canada | 3.8% |
| UK | 3.7% |
| Germany | 3.4% |
| USA | XX% |
| France | XX% |
| Italy | XX% |
| Japan | 3.3% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Polyester Fibre Market Share
The Asia Pacific is expected to be the largest shareholder in the global polyester fibre industry over the forecast period. The rapid urbanisation and industrialisation in developing countries such as India and China are driving the regional market.
Additionally, the growing disposable income in the region has led to the inflating demand for higher living standards, thereby aiding the growth of the polyester fibre market. The presence of key players in China, Vietnam, and India is expected to propel regional growth.
Leading Companies in the Polyester Fibre Market
The company specialises in petrochemicals and fibres, focusing on sustainable solutions. It has made significant investments in recycling and high-performance materials, serving a wide range of industries globally.
- Alpek S.A.B. de C.V.
- Indorama Ventures Public Company Limited.
- TongKun Group Co., Ltd.
- Reliance Industries Limited.
- China Petroleum & Chemical Corporation.
- Toray Industries, Inc.
- Greenfiber International S.A
- Fiber Industries
- Stein Fibers, LTD.
- Far Eastern New Century Corporation
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Source |
|
| Breakup by Form |
|
| Breakup by Grade |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Polyester Fibre Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 3.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach reach a volume of approximately 85.55 MMT by 2032.
The major drivers of the market include the rising demand from automobile, electronics, and hospitality sector, increasing application in products such as drapes, mattresses, and carpets, rapid urbanisation and industrialisation, growing disposable income, higher living standards, presence of abundant raw materials, and developing regional flooring and furnishing market.
The rising demand for sports apparel, quick-dry clothing, and outdoor activity equipment and the properties of polyester fibre such as abrasion resistance, higher strength, and anti-wrinkle are the key trends of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Based on the source, the market is divided into virgin, recycled, blended and others.
The market can be broadly categorised based on its product type into polyester staple fibre (PSF) and polyester filament yarn (PFY).
Based on the form, the market is divided into solid and hollow.
The various grades in the market for polyester include PET polyester and PCDT polyester.
The major applications include apparel, home textiles, industrial textiles, and non-woven fabrics, among others.
The market's key players are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, Tongkun Group Co., Ltd, Reliance Industries Limited, and Sinopec Yizheng Chemical Fibre Company Limited, among others.
In 2023, the market reached an approximate volume of 60.6 MMT.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Locations
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124