The Global Polyester Market valued at USD 109.75 Billion in the year 2019 and volume of 58350 thousand tonnes has been witnessing unprecedented growth. Rising apparel import in the European region is likely to positively influence the growth of polyester market in coming years. Expanding fashion industry and rising adoption of polyester in apparel and garments are the major factors propelling the market growth. Digitalization of the value chain, shorter lead times, and changing fashion trends are expected to increase the consumption of polyester.
However, the Covid-19 pandemic has major implications for the Polyester industry. The impact of coronavirus can majorly be seen on the Polyester industry as most of the players of the polyester market have not been functioning well. The transactions have been very less and not significant due to plunging polyester cost, oil prices and mounting inventory burden. Major companies are facing difficulty in restarting the production process due to high inventory burden, slow recovery of downstream plants, constrained logistics, shortage of accessories and falling oil prices.
Among the Product Type segment in the Polyester market (Solid Fiber and Hollow Fiber), Solid Fiber has been gaining popularity among other segments and is expected to keep major market share in the forecast period. The reason for this could be growing textile manufacturing industry, particularly in the emerging economies of Asia Pacific and this is expected to drive the market over the coming years. Advantageous properties of Polyester over cotton, substitute, act as one of the key factors driving the demand. 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.
Among the Grade segment in the Polyester market (PET Polyester and PCDT Polyester), PET Polyester has been gaining popularity among other segments and is expected to keep major market share in the forecast period. Polyethylene Terephthalate (PET) has become one of the most widely used, versatile and trusted plastic material in the world. More than half of world’s synthetic fiber and bottles demand is fulfilled by PET plastics. PET plastic has become the world’s choice in the packaging sector.
Based on Application (Textile, Medical Care and Others), Textile Segment dominates the market share in year 2019 and is also expected to show dominance during the forecast period. Polyesters are widely used in textile industry for making a variety of textiles such as sarees, dress materials, curtains, etc. Polyester are also blended with natural fibres such as cotton and wool. The fast-growing textile industry has been consuming increasing amounts of Polyesters in a chain of textile weaving, dyeing, and apparel making industries.
The Asia Pacific market is estimated to be the leading market for Polyester during the forecast period. Asia-Pacific holds major share in the global fibre market due to increasing use of textiles, carpet, home furnishing & d?cor and for industrial fabrics. The Asia-Pacific accounted for the largest market share owning to the fastest-growing textile industry and growing residential and commercial construction in the region. China is the leading country in the region owing to the large consumer base, growing disposable income, low labour cost, and easy availability of raw materials.
Scope of the Report
- The report analyses the Polyester market By Value and By Volume.
- The report analyses the Polyester market by Product Type (Solid Fiber, Hollow Fiber).
- The report assesses the Polyester market by Grade (PET Polyester and PCDT Polyester).
- The report assesses the Polyester market by Application (Textile, Medical Care and Others).
- The Global Polyester Market has been analysed by Region (North America, Europe, and Asia Pacific) and by Country (USA, Canada, Germany, Italy, China, India, Japan, South Korea, Indonesia, Malaysia).
- Also, the attractiveness of the market has been presented by region, product type, grade and application. Also, trends, drivers, challenges and opportunity of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers & acquisitions and Recent Industry Development, pricing analysis, overview of recycled polyester. The companies analysed in the report include Alpek, Indorama Ventures PCL, Toray Industries, Inc., Sinopec, Mossi Ghisolfi Group, Nan Ya Plastics, William Barnet and Son, LLC, Stein Fibers, Ltd., GreenFiber International SA, Tongkun Group Co., Ltd.
- The report presents the analysis of Polyester market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
- Polyester Vendors
- Consulting and Advisory Firms
- Government and Policy Makers
- Investment Banks and Equity Firms
- Regulatory Authorities