Polyester Staple Fiber Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Polyester Staple Fiber Market Analysis
The polyester staple fiber market is expected to register a CAGR of over 4% during the forecast period.
Polyester staple fiber is commonly used in spinning and non-woven weaving. PSF is mostly utilized in cushion and couch fiber fillings. It is also used in polyester spun yarn production, which is subsequently knitted or woven into textiles.
- Over the medium term, the significant factors driving the market studied are the increasing demand from the textile industry for making apparel and the rising demand from the home furnishing segment. Growing awareness regarding recycled polyester staple fiber due to increasing environmental concerns is expected to offer various lucrative opportunities for market growth.
- By application, the apparel segment is expected to dominate the market due to the increase in the usage of polyester staple fiber to make apparel, as it is cheaper than cotton.
- On the flip side, stringent legal and political regulations on manufacturers are restraining the polyester staple fiber market.
- The Asia-Pacific region dominated the polyester staple fiber market globally, with enormous consumption from countries like China and India.
Polyester Staple Fiber Market Trends
This section covers the major market trends shaping the Polyester Staple Fiber (PSF) Market according to our research experts:
Increasing Demand from the Textile Segment
- Polyester staple fiber (PSF) is a synthetic artificial fiber made directly from purified terephthalic acid (PTA) and mono ethylene glycol (MEG), or polyethylene terephthalate (PET)/polyester waste, or recycled post-consumer PET bottle flakes.
- The increasing polyester staple fiber use in sportswear, activewear, etc., is driving its demand in the garment industry, propelling the market forward. The polyester staple fiber market is also benefiting from a surge in its use as a cotton alternative due to cost, thinness, and availability in various styles and colors.
- In addition, various high-tech polyester staple fibers have antibacterial qualities and provide better protection against odor and diseases. The polyester staple fiber market is predicted to grow due to these characteristics throughout the forecast period.
- The textile industry in India is one of the country's oldest and most crucial sectors. It substantially contributes to the Indian economy, accounting for around 14% of industrial production. After China, India is the world's second-largest manufacturer of textiles. In 2021, India exported USD 209.63 million in textiles and apparel, a 30% increase over the previous year, according to the International Trade Administration.
- Bangladesh's textile industry is one of the most critical areas of the country's economy, accounting for more than 80% of total exports. According to the International Trade Administration, Bangladesh exported USD 40.49 million in textiles and apparel clothing in 2021.
- The market is expected to multiply over the forecast period due to all the abovementioned factors.
The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the polyester staple fiber market during the forecast period.
- In countries like China, India, and South Korea, owing to an increase in demand from various applications in apparel, automotive, and home furnishing, coupled with rising population, changing lifestyles, economic growth, and growing per capita income, the demand for polyester staple fiber is increasing.
- The textile industry in the Asia-Pacific area is one of the world's largest and most important. The region is projected to account for more than 60% of worldwide textile output. The sector is highly competitive and significantly grew over the last decade due to increased demand from domestic and foreign markets.
- The business is characterized by many small-scale producers, with the most prominent participants being China, India, and Bangladesh. Because of their low labor costs and easy access to raw materials, many countries' textile industries have increased. Furthermore, the region saw an increase in international investment, mainly from Japan and South Korea, which aided in driving innovation and technological advancement.
- China, India, and Bangladesh combinedly exported USD 1.098 billion of textiles and apparel clothing to the rest of the world in 2021.
- The rising demand from the home furnishing segment for making pillows, sofas, bed sheets, carpets, and rugs is increasing the demand for polyester staple fiber in the region and, thus, propelling its market.
- Sustainable fashion made from recycled and ecologically friendly items such as polyester made staple fiber more popular among customers. The polyester staple fiber industry is boosted by sustainable clothes availability in vivid colors, fashionable designs, and appealing patterns.
- According to the Ministry of Textiles India, the country is the world's sixth-largest export of textiles and apparel. Owing to the significant PSF applications in the textile industry, the demand in the market is expected to increase in the years to come.
- Owing to the abovementioned factors, the region's demand for polyester staple fiber is estimated to grow during the forecast period.
Polyester Staple Fiber Industry Overview
The polyester staple fiber (PSF) market is highly fragmented, with the top five players accounting for a minimal market share. Some of the key companies in the market include Toray Industries Inc., Alpek SAB de CV, Reliance Industries Limited, Bombay Dyeing, and W. Barnet GmbH & Co. KG.
Polyester Staple Fiber Market Leaders
-
TORAY INDUSTRIES, INC.
-
W. Barnet GmbH & Co. KG
-
Alpek S.A.B. de C.V.
-
Bombay Dyeing
-
Reliance Industries Limited
*Disclaimer: Major Players sorted in no particular order
Polyester Staple Fiber Market News
- October 2022: The Competition Commission of India (CCI) approves the acquisition of Shubhalakshmi Polyesters Limited and Shubhlaxmi Polytex Limited by Reliance Polyester Limited. This acquisition will primarily supply and produce certain petrochemical products such as polyester staple fiber (PSF), polyethylene terephthalate chips, and different polyester yarns.
- August 2021: Reliance Industries Limited (RIL) will open a new recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh, India, that will double its capacity for recycled PET. This manufacturing facility will increase the company's capacity for post-consumer PET bottles by up to 5 billion.
Polyester Staple Fiber Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Textile Industry
4.1.2 Rising Demand from the Home Furnishing Segment
4.2 Restraints
4.2.1 Stringent Legal and Political Regulations
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Solid
5.1.2 Hollow
5.2 Origin
5.2.1 Virgin
5.2.2 Blended
5.2.3 Recycled
5.3 Application
5.3.1 Textile
5.3.2 Home Furnishing
5.3.3 Automotive
5.3.4 Filtration
5.3.5 Construction
5.3.6 Other Applications
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alpek SAB de CV
6.4.2 Bombay Dyeing
6.4.3 Diyou Fibre (M) Sdn Bhd
6.4.4 Far Eastern Group
6.4.5 Huvis
6.4.6 Indorama Ventures Public Company Limited
6.4.7 Komal Fibres
6.4.8 Nirmal Fibres (P) Ltd
6.4.9 Reliance Industries Limited
6.4.10 RUDRA FIBRE
6.4.11 Shubhalakshmi Polyesters Ltd
6.4.12 Tongkun Group Co. Ltd
6.4.13 TORAY INDUSTRIES INC.
6.4.14 W. Barnet GmbH & Co. KG
6.4.15 XINDA Corp.
6.4.16 ZHEJIANG BORETECH ENVIRONMENTAL ENGINEERING CO. LTD
6.4.17 Zhejiang Hengyi Group Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Awareness Regarding Recycled Polyester Staple Fiber
7.2 Other Opportunities
Polyester Staple Fiber Industry Segmentation
Polyester staple fiber (PSF) almost includes the same properties as polyester fiber, manufactured directly from MEG or PET chips and PTA or recycled PET. Virgin PSF is made of PTA and MEG or PET chips, while recycled PSF is made with PET flakes that have been recycled. PSF that is 100% virgin is usually more expensive than recycled PSF and is often more hygienic. Polyester staple fiber is often used in spinning and non-woven weaving. The market is segmented based on product type, origin, application, and geography. By product type, the market is segmented into solid and hollow. By origin, the market is segmented into virgin, blended, and recycled. By application, the market is segmented into textile, home furnishing, automotive, filtration, construction, and other applications. The report also covers the market size and forecasts in 15 countries across the central regions. For each segment, the market sizing and forecasts have been done based on volume (kilotons).
| Product Type | |
| Solid | |
| Hollow |
| Origin | |
| Virgin | |
| Blended | |
| Recycled |
| Application | |
| Textile | |
| Home Furnishing | |
| Automotive | |
| Filtration | |
| Construction | |
| Other Applications |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Polyester Staple Fiber Market Research FAQs
What is the current Polyester Staple Fiber (PSF) Market size?
The Polyester Staple Fiber (PSF) Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Polyester Staple Fiber (PSF) Market?
TORAY INDUSTRIES, INC. , W. Barnet GmbH & Co. KG , Alpek S.A.B. de C.V. , Bombay Dyeing and Reliance Industries Limited are the major companies operating in the Polyester Staple Fiber (PSF) Market.
Which is the fastest growing region in Polyester Staple Fiber (PSF) Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polyester Staple Fiber (PSF) Market?
In 2024, the Asia Pacific accounts for the largest market share in Polyester Staple Fiber (PSF) Market.
What years does this Polyester Staple Fiber (PSF) Market cover?
The report covers the Polyester Staple Fiber (PSF) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polyester Staple Fiber (PSF) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polyester Fiber Industry Report
Statistics for the 2024 Polyester Fiber market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Polyester Fiber analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
