Polyester Staple Fiber Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2029
The global polyester staple fiber market size is envisaged to gain steady momentum over the next few years owing to its application in varied industry such as automotive, textile, home furnishing, and others. These fibers can withstand harsh climatic conditions and are available in different styles, designs, sizes and colors, states Fortune Business Insights™, in its report, titled, “Polyester Staple Fiber Market, 2021-2028”.
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COVID -19 Impact:
The COVID-19 pandemic has led to a severe economic downturn, impacting industries and businesses in a variety of ways. The polyester manufacturing industry was also paralyzed by the pandemic impact. Moreover, it came under non-essential things amidst the pandemic the manufacturing unit of polyester staple fiber as well as their application declined. Further, few of them retooled to manufacture masks, sanitizers, and personal protective equipment (PPE). However, the market is expected to revive during the forecast period.
By product, the market is bifurcated into solid and hollow. By application, it is divided into textile, construction, automotive, filtration and others. Lastly, in terms of geography, it is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
List of Key Players Profiled in Report
- Toray Industries
- Reliance Industries Limited
- Alpek S.A.B. de C.V,
- Barnet GmbH & Co. KG,
- Bombay Dyeing
Salient Features of the Report:
The report gives a thorough analysis of the latest market trends, top market segments, and factors that are majorly driving the market. The regional analysis is comprehensively discussed in the report. Additionally, it talks about the dominant strategies adopted by key market players
Drivers & Restraints
The Rising Demand for Budget-Friendly Fibers to Drive Market Growth
The rising demand for budget-friendly and sustainable fiber is expected to drive the polyester staple fiber market growth. These fibers are environment friendly, thus sits demand has increased among consumers. Moreover, the fiber remains wrinkle-free and is weather resistant. The aforementioned properties are fueling the product’s demand.
On the other hand, R&D for these fibers is extensive and needs high investments funding to set up its machinery. These are the major factors that are hampering market growth.
Asia Pacific to Dominate Backed by Increasing Industrialization
Asia Pacific is expected to remain at the forefront and hold the largest position in the market during the forecast period owing to the fast paced industrialization coupled with rising disposable income of population living in this region.
North America is expected to showcase a significant polyester staple fiber market share in upcoming years, owing to rising awareness towards sustainable fibers, thus people are inclined towards it as compared to other materials in the region.
Key Players to Focus on Acquisitions Products to strengthen the Market Growth
The global market for gardening pots has many prominent companies that are constantly trying to develop unique devices to cater to the demand of consumers across the globe. To do so, they are joining hands with local or reputed firms, doing partnerships and acquisitions to strengthen their portfolio in the market. Below is industry developments:
- February 2019: Indorama Ventures acquired Cabo de Santo Agostinho plant. This plant manufactured and supplied Polyester fibers with the capacity of 75000 tons per year.
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