Polyester Staple Fiber | Quantitative Market Analysis, Current and Future Trends
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The competition in the global polyester staple fiber market is cyclical in nature and players are mostly seen competing on the basis of price, product quality, and credit terms. They are also seen trying to retain their share by providing technical after-sales support to generate customer loyalty. Going forward, the competition in the global polyester staple market is expected to remain moderate on account of moderate capacity and high barriers of entry to aspiring players because of steep upfront capital and protracted gestation period.
Some of the key players in the global polyester staple fiber market are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, Toray Industries Inc., China Petroleum & Chemical Corporation, Reliance Industries Limited, and W. Barnet GmbH & Co. KG.
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A report by Transparency Market Research predicts the global polyester staple fiber market to expand at a CAGR of 4.1% from 2017 to 2025 to become worth US$34.546 bn by 2025 from US$23.167 in 2016. In terms of volume, it forecasts the market to rise at a 4.6% CAGR to reach 23555 kilo tons from 16528.1 kilo tons in 2016.
Rapid Industrialization Catapults Asia Pacific Market to the Fore
Some of the key end-use segments in the global polyester staple fiber market are apparel, automotive, home furnishing, filtration, construction, and personal care and hygiene, among others. Among them, the apparel segment accounts for maximum demand. The apparel segment is said to have consumed 3365 kilo tons in 2016 and going forward too is expected to be the dominant driver of demand.
Geographically, Asia Pacific is the dominant region, powered primarily by the fast-expanding emerging economies of China and India. Some of the factors catalyzing phenomenal growth in the market in the region are a rising spending capacity of people, rapid pace of industrialization, and booming construction activities. Asia Pacific held a substantial 41.4% share in the global polyester staple fiber market in 2016 in terms of revenue.
Surging Demand for Man-made Fiber Catalyzes Growth
At the forefront of driving growth in the global polyester staple fiber market is the increasing demand for man-made fiber in the textile industry. This is because polyester staple fiber is a key component of man-made fiber.
Another factor boosting the market is the rise in the sales of automobiles since polyester staple fiber finds widespread application in car fabrics. The explosive growth in construction industry, particularly in the developing countries of the world, is also bolstering the market as polyester staple fiber are widely used in construction owing to their ability to provide temperature stability and facilitate improvement in tensile and shear properties of asphalt concrete.
Regulated Cotton Prices Deal a Blow to Polyester Staple Fiber Demand
Hobbling the growth of the global polyester staple fiber market, on the other hand, is the regulated cotton prices in emerging economies of the world. This makes cotton cheaper than polyester staple fiber. Further many countries in the world have anti-dumping duties on purified terephthalic acid (PTA), which have resulted in increased prices of PTA. This will likely have a negative impact on the price of polyester staple fiber.
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This review is based on the findings of a TMR report, titled, “Polyester Staple Fiber Market (Type - Solid (Semi-dull Optical White, Bright Optical White, Black Dope Dyed, Colored Dope White, Others Semi-dull, and Others Bright) and Hollow; Origin - Virgin, Recycled, and Blend of Virgin and Recycled; End User - Apparel, Automotive, Home Furnishing, Filtration, Construction, and Personal Care and Hygiene) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
Global Polyester Staple Fiber Market, by Type
Solid
Semi-dull Optical White
Bright Optical White
Black Dope Dyed
Colored Dope Dyed
Others Semi-dull
Others Bright
Hollow
Global Polyester Staple Fiber Market, by Origin
Virgin
Recycled
Blend of Virgin & Recycled
Global Polyester Staple Fiber Market, by End-user
Apparel
Automotive
Home Furnishing
Filtration
Construction
Personal Care & Hygiene
Others
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