Global Polyester Fiber Market: Flourishing Construction Industry in Asia Pacific Key to Sustained Growth, says TMR

The global polyester fiber market is dominated by players such as Reliance, Zhejiang Hengyi, and Sinopec. However, even these companies do not hold significant market shares, as the degree of fragmentation of the polyester fiber market is quite high; the top 10 companies in the global polyester fiber market account for only about 30% of the market. As a result, relatively smaller companies such as Zhejiang Tongkun, Indorama, Nan-Ya, Sanfangxiang, Far Eastern, M&G, and Alpek also have notable shares in the global polyester fiber market.

The high degree of fragmentation in the global polyester fiber market is likely to result in intense competition in the coming years. Acquisition of small players by industry giants is likely to be a key feature of the future development of the polyester fiber market. Acquisitions can become the tool for expanding of the regional reach of key players as well as their product catalog.

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According to Transparency Market Research (TMR), the volume of the global polyester fiber market is expected to reach 55,427.8 kilo tons by the end of 2019.

Asia Pacific to Retain Dominance in Global Polyester Fiber Market

The global polyester fiber market is segmented by product type into solid and hollow polyester fiber. Of these, solid polyester fiber is the leading revenue generator for the global polyester fiber market. The solid polyester fiber segment is expected to account for 83.5% of the global market by the end of 2019 and is likely to remain the overwhelmingly dominant revenue generator in the coming years.

By application, the global polyester fiber market can be segmented into carpets and rugs, fiberfill, nonwoven fabrics, and others. While the diversity of applications of polyester fiber has resulted in low market shares for all application segments, the demand for polyester fiber in fiberfill plays a key role in the global polyester fiber market’s development. The fiberfill application segment of the polyester fiber market is expected to account for 16.2% of the global market by the end of 2019.

Asia Pacific is the overwhelmingly dominant regional market for polyester fibers and is likely to remain so in the coming years, with the region expected to account for 85.7% of the global polyester fiber market by the end of 2019. The global market shares of both North America and Europe are expected to remain below 5% throughout the 2013-2019 forecast period.

Steady Performance in China, India Vital for Polyester Fiber Market

The consistently high production figures of the polyester fiber industry in China and India is a key driver for the global polyester fiber market. China alone could account for close to 70% of the global production of polyester fiber by the end of 2019, followed by India. The high local consumption of polyester fiber in Asia Pacific is a key driver for the Asia Pacific market and will help ensure steady growth of the polyester fiber industry in the region in the coming years.

The booming construction industry in emerging regions has also become a crucial driver for the global polyester fiber market, as it has led to a rising demand for carpets and rugs in residential as well as commercial construction. The rising purchasing power of consumers and the rapid urbanization observed in countries such as China, India, South Korea, and other Southeast Asian countries are thus indirectly key factors for the global polyester fiber market.

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On the other hand, the declining share of the North America and Europe markets for polyester fiber is due primarily to the stagnation of the market in these regions. This is likely to remain a key constraint on the global polyester fiber market in spite of the steady growth of the Asia Pacific market.

The information in this preview comes from a Transparency Market Research report titled ‘Polyester Fiber Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.’

The global polyester fiber market is segmented as follows:

Polyester Fiber Market – Product Segment Analysis

  • Solid

  • Hollow

Polyester Fiber Market – Application Analysis

  • Carpets & rugs

  • Nonwoven fabrics

  • Fiberfill

  • Others (Apparel, home textiles, industrial, etc.)

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