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.
Base Year
Historical Year
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% |
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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.
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.
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%.
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“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
Market Breakup by Product
Market Breakup by Form
Market Breakup by Grade
Market Breakup by Application
Market Breakup by Region
| 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% |
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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.
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.
| 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:
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| Breakup by Product |
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| Breakup by Source |
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| Breakup by Form |
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| Breakup by Grade |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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.*
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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.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
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.
+63-287-899-028, +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
+84-865-399-124
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