Polyester fibers are manufactured from recycled or virgin PET. These fibers can be colored by the method of pigmentation or dope dyeing. Polyester fibers can be classified as staple fibers and bulk continuous fibers (BCF) depending on their length. These fibers can also be manufactured in various geometries such as square, rectangular, triangular, hexagonal and circular depending upon the area of application.
Growth of residential and commercial buildings market, emerging markets of Asia Pacific, increasing demand for nonwoven materials and products and rising demand for geotextiles are expected to be some of the key factors driving demand for polyester fibers. Additionally, global protective clothing market would boost demand for polyester fibers in the near future. Furthermore, increasing demand for hollow fibers in mattresses and subsequent growth of the mattresses market is likely to bolster demand for polyester fibers during the forecast period. However, volatility in prices of raw materials, presence of stringent regulations regarding the manufacture and wastage of polyester are some of the critical parameters that are anticipated to hamper market growth. Nonetheless, there are several opportunities for growth of the market in the near future such as rise in scope of applications of hollow polyester fibers in medical applications and increasing demand for polyester fibers in the apparel industry due to higher prices of cotton.
Depending upon the method of manufacture, polyester fibers can be segmented into solid and hollow. Solid fiber was the largest product segment of the polyester solid fiber market, accounting for 83.0% of the total share in 2012. Solid fiber is used in a wide range of applications such as apparels, nonwoven fabrics and products, and home furnishings. Demand for polyester is likely to rise significantly during the next few years as this material is being increasingly used in place of other materials such as cotton and nylon due to its low cost and unique characteristics. Hollow fibers function as fillers. They are used in fiberfill. Fiberfill is used in applications such as pillows, quilts and protective clothing due to its warmth, high resilience and good bulk.
Fiberfill was the important application segment of the market accounting for over 15% of the polyester fiber market share in 2012. Carpets & rugs is expected to be the fastest growing application segment in the polyester solid fibers market over the next few years. Polyester is increasingly used in carpets & rugs due to rising demand for economical carpets globally. Additionally, increasing demand for pillows and quilts due to the growth of the home furnishings market, particularly in emerging economies such as China, Brazil and India, is anticipated to drive demand for polyester solid fibers as fiberfill. Apparel, home textiles and industrial are other applications of polyester fiber.
Asia Pacific was the largest market for polyester solid fibers in 2012. Together, Europe and North America constituted around 10% of the market share in 2012. Asia Pacific is projected to be the fastest growing market for polyester solid fibers during the forecast period due to strong demand for carpets & rugs, nonwoven fabrics, home furnishings products, textiles, apparels and industrial products that use polyester. China and India are leading polyester producing countries of the world. In 2012, China alone accounted for over 60% of the global polyester fiber production. Demand for polyester solid fibers is estimated to be significant in the MENA region and RoW.
Reliance, Sinopec, Zhejiang Hengyi, Zhejiang Tongkun, Nan-Ya and Indorama are some of the leading manufacturers of polyester fiber. The polyester fiber market is highly fragmented in nature with the presence of several small, medium and large scale manufacturers. The market is highly susceptible to merger & acquisitions where large scale companies are constantly in the pursuit to maintain their leading position in the market.
Polyethylene terephthalate (PET), when used in the form of fibers and filaments, is known as polyester. Polyester fibers are used in a wide range of applications such as carpets, rugs, fiberfill, and nonwoven fabrics. Polyester fibers are also used in industrial applications, home textiles and apparel. Other applications of polyester fibers include industrial, home textiles and apparels. Purified terephthalic acid (PTA) and monoethylene glycol (MEG) are the primary raw materials used in the manufacture of polyester fiber. The demand for polyester fiber is expected to increase tremendously owing to technological advancements that have enabled the production of thinner filaments. This gives polyester fiber a silky smooth feel and improved color-holding (dope dyeing) capabilities. Rising disposable incomes coupled with changing lifestyles will likely drive the home furnishings market; carpets and rugs account for a notable share of the market. Additionally, consumers’ focus on enhancing interiors, especially in commercial and corporate environments, is likely to boost demand for wall-to-wall carpets and in turn the polyester fiber market. Increased construction of both residential and commercial spaces is expected to be a vital factor driving the demand for carpets and rugs. The growth of the carpet industry is anticipated to be in tandem with the increase in construction activities.
The report forecasts and analyzes the polyester fiber market on a global and regional level. The forecast demand on the global level is based on volume (kilo tons) and revenue (USD million) for the period ranging from 2013 to 2019. The study outlines drivers and restraints of the polyester market and their impact on market growth during the mentioned time period. In addition, the study includes opportunities available for the market on a regional and global level and their effect during the said forecast period.
For a better understanding of the polyester fiber market, we have performed a detailed analysis of the value chain. Moreover, an analysis using Porter’s five forces model renders a better understanding of the intensity of competition in the market. The study comprises a market attractiveness analysis, where key applications are benchmarked based on their market size, growth rate, and general attractiveness.
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Alpek S.A.B de C.V, Far Eastern New Century Corporation, Indorama Ventures Public Company Limited, Jiangsu Sanfangxiang Group, Mossi Ghisolfi Group, Nan Ya Plastics Corporation, Reliance Industries Limited, Sinopec Yizheng Chemical Fibre Company Limited, Tongkun Group, Zhejiang Hengsheng Chemical Fiber Co., Ltd and Zhejiang Hengyi Group Co. Ltd. Company profiles include attributes such as company overview, financial overview, business strategy, SWOT analysis and recent developments. The growing demand for nonwoven materials and products across various industries such as manufacturing, household, electronics, hospitality and automotives is also expected to augment the demand for polyester fibers. Furthermore, a growing demand for mattresses, coupled with technological advancement, is expected to fuel the demand for hollow fibers. A rise in construction activities is expected to be one of the primary factors driving the demand for polyester fibers, given that residential and commercial flooring solutions are dominated by the carpets and rugs sector.
For the purpose of this study, the polyester fiber market is segmented based on applications and geography. Application segments have been analyzed and forecasted based on current trends at the global and regional levels for the period between 2013 and 2019. Geographically, the market has been segmented into North America, Europe, Asia Pacific, Middle East and North Africa (MENA) and Rest of the World. Analyses and forecasts are based on current trends, and range over 2013 - 2019. The market has been segmented as below:
Polyester Fiber Market – Product Segment Analysis
Polyester Fiber Market - Application Analysis
- Carpets & rugs
- Nonwoven fabrics
- Others (Apparel, home textiles, industrial, etc.)
Polyester Fiber Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)