Polyester Staple Fiber Market Size Worth $39.3 Bn By 2025

Tuesday 5 December 2017, Amsterdam

 

The global polyester staple fiber market is expected to reach USD 39.3 billion by 2025, growing at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. Rise in the global consumption of sustainable textiles has been a major factor driving market growth. Growing consciousness regarding the environment and cheaper price of PSF as compared to that of cotton have increased the utilization of PSF in the global market.

Polyester staple fiber is lightweight, wrinkle-free, and resistant to light and weather. It also has an ability to withstand extreme climatic conditions. It is used as a key element in various end-use sectors, including apparel, home furnishing, construction, and automotive, which is expected to drive market growth over the forecast period. Rising product demand, owing to its long-term effectiveness, high elastic resilience, tenacity, and eco-friendly nature of PSF, is also expected to boost market growth over the next eight years.

Solid PSF was the largest product segment in 2016 and is expected to witness a promising growth rate over the forecast period. Hollow product segment is anticipated to observe a low growth rate by 2025. In terms of revenue, apparel application segment is anticipated to observe the fastest growth over the next eight years at a CAGR of 6.7% from 2017 to 2025. PSF is instrumental in improving the overall quality at a lower price than its alternatives, which is expected to drive its demand. Increasing product usage in Asia Pacific owing to its rising utilization in textile manufacturing industry is also expected to boost demand over the forecast period.