ALBANY, New York, October 12, 2018 /PRNewswire/ --
The global polyester staple fiber market has witnessed the foray of several new players in the past few years, rendering the vendor landscape increasingly concentrated and competitive, observes Transparency Market Research in a recent report. Despite this, the level of fragmentation among the numbered suppliers and the vast number of potential buyer remains low as the market features the need for high capital investment for establishing manufacturing facilities and large gestation period, making it challenging for small-scale players to establish themselves in the market. Companies in the market compete on the basis of product price, quality, and credit terms.
Some of the leading companies in the market are Toray Industries Inc., Reliance Industries Limited, W. Barnet GmbH & Co. KG, China Petroleum & Chemical Corporation, Alpek S.A.B. de C.V., and Indorama Ventures Public Company Limited.
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According to the report, the polyester staple fiber market, which had a valuation of US$23.167 bn in 2016, will exhibit a moderate 4.10% CAGR over the period between 2017 and 2025, rising to a revenue opportunity of US$34.546 bn by 2025. Based on end use, the market acquires the largest share of its revenue from the apparel segment and the trend is likely to remain strong in the near future as well. Geographically, the market in Asia Pacific presently dominates and is likely to retain its dominant stance in the overall market by the end of the forecast period as well.
Rising Usage of Man-made Fibers in Several Application Areas to Drive Growth
The global polyester staple fiber market has benefitted from the increased usage of manmade fibers across a number of conventional applications in the past few years. It has been found that the usage of manmade fibers in the textile sector has increased to nearly 65% of the overall fabric consumption in 2015, thanks to the excellent flexibility, strength, and variety of products made possible by manmade fibers along with a vast reduction in the cost of the final product. As a result, the consumption of polyester staple fibers has also increased in applications such as furniture, automotive, and apparel.
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Besides this, the polyester staple fiber market is also expected to gain massively from the rising demand for tougher and more flexible fibers in the construction sector. The use of polyester staple fibers with asphalt cement is known to improve aspects such as shear, tensile strength, and temperature stability of the resulting concrete. As builders focus more on making their buildings and constructions stronger so as to comply with the stringent regulations put in place by a number of countries, the demand for polyester staple fibers is expected to rise in the construction industry in the next few years.
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Low Cost of Natural Fibers in Agrarian Economies to Hinder Market Growth Prospects
The heavy anti-dumping duties imposed on purified terephthalic acid (PTA), which is one of the key raw materials used for the production of polyester staple fiber, has resulted in a vast rise in the costs of polyester staple fiber in these countries. Moreover, the commercial cost of cotton is regulated by the government in a number of emerging economies, making cotton a much cheaper substitute to polyester staple fiber. These factors could hamper the growth of the market to a certain extent in the next few years. Nevertheless, the promising rise in the set of applications of man-made fibers across a number of industries could help the polyester staple fiber market gain sustainable growth prospects in the near future.
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This analysis of the global polyester staple fiber market is based on a recent market research report by Transparency Market Research, 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."
For the study, the market has been segmented as follows:
Global Polyester Staple Fiber Market, by Type
- Semi-dull Optical White
- Bright Optical White
- Black Dope Dyed
- Colored Dope Dyed
- Others Semi-dull
- Others Bright
Global Polyester Staple Fiber Market, by Origin
- Blend of Virgin & Recycled
Global Polyester Staple Fiber Market, by End-user
- Home Furnishing
- Personal Care & Hygiene
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