Due to the presence of numerous large, medium, and small-scale manufacturers, the global polyester market wears a highly fragmented look, states Transparency Market Research (TMR) in a new research report. Leading companies are in the pursuit to retain a lead in the market, thus giving rise to mergers and acquisitions between regional and global players. Some of the other key players in the market are Nan-Ya, Zhejiang Tongkun, Zhejiang Hengyi, Sinopec, and Reliance.
The global polyester fiber market was worth US$62.46 bn in 2012 and is likely to rise to a valuation of US$110.86 bn by the end of 2019. The market is likely to expand at an 8.6% CAGR between 2013 and 2019. In terms of application, fiberfill emerged as the leading segment in the global polyester fiber market. In 2012, it accounted for a share of over 15% and is expected to maintain a strong hold on the market in the long run. The growth of the fiberfill application segment can be attributed to the rising demand for polyester in protective clothing and pillow quilts.
Asia Pacific to Retain a Lead Owing to High Demand for Non-woven Fabrics
Geographically, Asia Pacific dominated the global polyester market in 2012. It is expected to witness strong growth and hold a share of 85% by 2019. Owing to the rising demand for products that use polyester fiber, such as apparel, textiles, home furnishings, non-woven fabrics, and carpets and rugs, the sales of polyester fiber are expected to accelerate in the region. Moreover, India and China are the leading polyester producing countries in the world, thus propelling the growth of the market in Asia Pacific.
High Demand for Carpets and Rugs to Enhance Market Reach of Manufacturers
According to a TMR analyst, “The significant growth in construction activities across the world is a factor that is likely to drive the demand for polyester fiber in the long run as carpets and rugs dominate the commercial and residential flooring solutions globally.” The growth of the global polyester fiber market can also be attributed to the growing application of polyester across industries such as automotive, hospitality, electronics, household, and manufacturing due to the mounting demand for nonwoven products. The demand for hollow fibers is likely to show an upswing over the next couple of years owing to the rising demand for mattresses and enhanced quality of hollow fibers. Furthermore, the positioning of rugs and carpets in the U.S. as floor coverings is another factor that is likely to positively impact the growth of the market.
Implementation of Strict Regulations regarding Use of Raw Materials in Polyester to Hinder Market Growth
The market for polyester fiber has reached a saturated phase in developed countries. As a result of this, the growth of the global market is expected to be adversely affected. Moreover, health hazards linked with the use of polyester fiberfill along with the presence of strict regulations regarding quality standards are further expected to inhibit the sales of polyester fibers. Polyester fibers are made of chemicals reacting with little molecules called monomers. The long molecular chain is called polymers. Polymers react with other chemicals to form polyester. The chemicals used in the manufacturing process of polyester are known to have adverse health effects. Thus, stringent regulations regarding the use of natural materials for the manufacturing of polyester are likely to challenge the productivity of the industry as manufacturers strive to meet the regulatory requirements.
This review is based on a Transparency Market Research report titled, “Polyester Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”
Polyester Fiber Market – Product Segment Analysis
Polyester Fiber Market - Application Analysis
Polyester Fiber Market - Regional Analysis
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