The
global polyester staple fiber market is expected to reach
USD 39.3 billion by 2025, growing at a CAGR of 6.3%, according to a new report
by Grand View Research, Inc. Rise in the global consumption of sustainable
textiles has been a major factor driving market growth. Growing consciousness
regarding the environment and cheaper price of PSF as compared to that of
cotton have increased the utilization of PSF in the global market.
Polyester
staple fiber is lightweight, wrinkle-free, and resistant to light and weather.
It also has an ability to withstand extreme climatic conditions. It is used as
a key element in various end-use sectors, including apparel, home furnishing,
construction, and automotive, which is expected to drive market growth over the
forecast period. Rising product demand, owing to its long-term effectiveness,
high elastic resilience, tenacity, and eco-friendly nature of PSF, is also
expected to boost market growth over the next eight years.
Solid
PSF was the largest product segment in 2016 and is expected to witness a
promising growth rate over the forecast period. Hollow product segment is
anticipated to observe a low growth rate by 2025. In terms of revenue, apparel
application segment is anticipated to observe the fastest growth over the next
eight years at a CAGR of 6.7% from 2017 to 2025. PSF is instrumental in
improving the overall quality at a lower price than its alternatives, which is
expected to drive its demand. Increasing product usage in Asia Pacific owing to
its rising utilization in textile manufacturing industry is also expected to
boost demand over the forecast period.
Browse full
research report on Polyester Staple Fiber Market: www.grandviewresearch.com/industry-analysis/polyester-staple-fiber-psf-market
Further
key findings from the report suggest:
- The global demand for polyester staple fiber
was 15,519.7 kilotons in 2016 and is estimated to ascend at a CAGR of 4.7%
from 2017 to 2025. Asia Pacific dominated the global market in 2016,
followed by Europe. Emerging economies such as China, India, and Brazil
are predicted to lead their respective regional markets over the forecast
period.
- In terms of product, solid PSF emerged as the
largest segment in 2016. Increasing popularity of sustainable man-made
fibers coupled with reducing consumption of cotton in textile industry is
likely to drive the market over the forecast period.
- In terms of revenue, virgin PSF emerged as the
largest origin market segment in 2016 and is estimated to generate a
revenue of over USD 16,451.9 million by 2025. Recycled PSF is estimated to
witness promising market growth over the forecast period owing to rising
environmental consciousness across the globe.
- Asia Pacific polyester fiber market is
projected to witness substantial growth over the next decade owing to
various developments, especially in textile industry, across major
economies. In terms of revenue, the regional market is expected to
progress at a CAGR of 6.7% from 2017 to 2025.
- Key market players include Toray Chemical Korea
Inc., W. Barnet Gmbh & Co. KG, Alpek S.A.B. de C.V., Reliance
Industries Limited, Diyou Fibre (M) Sdn Bhd., Huvis Corporation, Indorama
Corporation, Xinda Corp., China National Petroleum Corporation, Bombay
Dyeing, Petrovietnam Petrochemical, and Textile Fiber Joint Stock Company.
These companies attempt to increase their market shares and expand their
global presence through strategic initiatives such as expansions,
investments, acquisitions, and new product developments.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/renewable-chemicals
Grand View Research has segmented the global polyester staple fiber
market on the basis of product, origin, application, and region:
Product
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Solid
- Hollow
Origin
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Virgin
- Recycled
- Blended
Application
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Automotive
- Home
Furnishing
- Apparel
- Filtration
- Others
Regional
Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Europe
- UK
- Germany
- France
- Asia
Pacific
- China
- India
- South
Korea
- Central
& South America
- Brazil
- Middle
East & Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-polyester-staple-fiber-psf-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
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