Global Polyester Staple Fiber Market features a low degree of
fragmentation among suppliers and a large number of potential buyers.
The market also features a very large gestation period and high cost
of capital required for establishing manufacturing units, resulting
in a moderate threat of new entrants, observes Transparency Market
Research in a recent report. Market players compete on the fronts of
price, product quality, credit terms, and technical aftersales
support provided to buyers. “As the market is in the stage of
moderate capacity, the degree of completion will remain moderate over
the period 2016 to 2024”, states a TMR analyst.
Some of the market’s key vendors are Alpek S.A.B. de C.V., Toray
Industries, Inc., China Petroleum & Chemical Corporation,
Reliance Industries Limited, and Far Eastern New Century Corporation.
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Apparel
Industry to Emerge as Most Promising End-use Segment
Transparency Market Research states that the global polyester staple
fiber market will exhibit a healthy 7.5% CAGR over the period between
2016 and 2024. Rising at this pace, the market, which valued at
US$23,404.0 mn in 2015, is projected to reach US$42,415.1 mn by 2024.
In terms of applications, the apparel industry dominated the market,
holding an over 20% share in market revenues in 2015. The segment is
also expected to maintain its lead throughout the forecast period.
Asia Pacific is presently the dominant market for polyester staple
fiber and is expected to retain its lead position in the global
market for polyester staple fiber by 2024 as well. The region
accounted for 41% share in terms of revenue in 2015. China was the
dominant producer of polyester fiber in 2015, followed by India.
Rising
Usage of Manmade Fibers in Cotton-dominated Textile Industry Key to
Market Growth
In the past few years, the higher strength and flexibility in design
and application, in addition to the significant reduction in cost of
end-product, allowed by manmade fibers have significantly increased
their share across many conventional applications where once cotton
and other natural fibers dominated. In 2015, the overall consumption
of manmade fiber in the textile industry stood at nearly 65%. Of the
variety of manmade fibers available in the market at present,
polyester staple fiber has emerged as the most promising segment and
has found applications across most promising industries such as
textile, automotive, furniture, and apparel.
Rise in demand for manmade fiber and increase in automobile sales are
the major factors driving the polyester staple fiber market in
several regions. Polyester staple fiber is also expected to see
increased demand on a global front owing to its extensive use in the
construction industry to provide temperature stability and improve
tensile and shear properties of asphalt concrete. Growth in
construction activities, primarily in developing nations, is likely
to boost the demand for polyester staple fibers during the forecast
period
Anti-dumping
Duties on Purified Terephthalic Acid (PTA) to Hamper Market Growth
Over the past few years, many countries across the globe have imposed
anti-dumping duties on
purified terephthalic acid (PTA). Imposition of such rules has
subsequently resulted in the increased prices of PTA, which in turn
is expected to have a negative impact on the prices of polyester
staple fiber in these countries.
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In addition to this factor, the government-regulated prices of cotton
across many developing countries, making cotton a cheaper alternative
to polyester staple fiber, could also have a negative impact on the
overall development of the polyester staple fiber market in the near
future. The impact of regulated cotton prices will be most
prominently seen across developing agrarian economies.
This review of the market is based on a recent market research report
published by Transparency Market Research, titled “Polyester Staple
Fiber Market (by Origin: Virgin Polyester Staple Fiber, Recycled
Polyester Staple Fiber, Blend of Virgin and Recycled Polyester Staple
Fiber; by End User: Apparel, Automotive, Home Furnishing, Filtration,
Construction, Personal Care & Hygiene and Others) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 -
2024.”
For
the study, the global polyester staple fiber market is segmented as
follows:
Polyester
Staple Fiber Market: By Type
- Solid Fiber
- Hollow Fiber
Polyester
Staple Fiber Market: By Origin
- Virgin Polyester Staple Fiber
- Recycled Polyester Staple Fiber
- Blend of Virgin and Recycled Polyester Staple Fiber
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