Polyester Fiber Market: Consumers from Corporate and Commercial Environments are expected to drive the Growth of Market in Forecast Period by 2021

Polyester fiber is artificial or synthetic fiber manufactured from polyethylene terephthalate (PET) and monoethylene glycol (MEG). The fiber contains a long chain ester functional group, which is synthetically produced through step-growth polymerization. According to various end-users requirement, these fibers are produced in different colors and shapes. Different attributes of polyester fibers include resistant to weather and light, relatively high levels of durability at low costs withstand climatic effects and can be used where fineness and lightness are primary requirements. On account of these attributes the demand for polyester fibers are increasing rapidly.

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Additionally, other prominent market drivers identified to boost the market growth include technological advancements in thinner filaments production, and dope dyeing capabilities such as improved color holding. Changing lifestyles coupled with increase in disposable incomes are expected to boost the polyester fiber market from home furnishing segments including carpets and rugs for a significant share of market. Consumers from corporate and commercial environments are also expected to further drive the market growth owing to increasing demand for rugs and wall-to-wall carpets.

Polyester fibers have a gamut of industrial applications, especially in apparel and home textile segments. Product specific applications of polyester fibers majorly include rugs, carpets, nonwoven fabrics and fiberfill. These fibers are the first choice from apparel industries owing to its high usage in suits, dresses, trousers, jackets, blouses, skirts and outdoor clothing. Among various combinations of polyester fibers, blends of virgin wool with cotton are considered to be very popular. This classical blend includes fiber combination of 45% wool and 55% polyester. Market trend shows that increasing demand for non-woven products and materials across various industry verticals such as household, manufacturing, hospitality, automotive and electronics is likely to augment the polyester fiber market growth. Additionally, increasing demand for mattress and a rise in construction activities are also likely to boost the future market growth owing to increasing commercial and residential flooring solutions offered by rugs and carpet sector.

The global polyester fiber market is segmented based on product, application and region. The product comprises of solid and hollow. Based on application, the global market is divided into nonwoven fabrics, carpets & rugs, fiberfill and others including home textiles, apparels and construction. Based on region the global market is further divided into North America, Asia Pacific, Europe, and Middle East & Africa. Solid polyester has dominated the market in the past years and it is expected to dominate the future market owing to its high usage rate in home furnishing and construction activities. In the past years, Asia-Pacific dominated the global polyester fiber market. China was the highest contributing country in terms of market share owing to rapid increase in automotive and construction activities.

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Various designs of polyester fibers used in cars and fiberfill in pillows, mattress and home decors are expected to be the key driving factors to boost the market growth from this region. Burgeoning population from Asia-Pacific region owing to increasing demand for various apparels are also a major region to augment the future market growth. However, developed markets such as Europe and North America are expected to generate a sluggish growth rate of polyester fiber market owing to market saturation and product substitution. Occupational hazards are one of the few challenges expected to hinder the future market growth. However, advanced technology and improved safety standards adherence are likely to overcome the barriers related to production inefficiencies. Key industry players in the market include Zhejiang Tongkun, Reliance, Nan Ya, Sinopec, Celanese Corporation and others.