"The global polyester staple fiber market features a high degree of fragmentation between suppliers and has a presence of a number of buyers seeking competent suppliers, finds Transparency Market Research (TMR). Several players are focusing on parameters such as the quality of finished products, aftersales support, and credit terms for buyers in order to gain a competitive edge over others. The degree of competition is anticipated to remain moderate throughout the forecast period (2016–2024)"
The global polyester staple fiber market features a high degree of fragmentation between suppliers and has a presence of a number of buyers seeking competent suppliers, finds Transparency Market Research (TMR). Several players are focusing on parameters such as the quality of finished products, aftersales support, and credit terms for buyers in order to gain a competitive edge over others. The degree of competition is anticipated to remain moderate throughout the forecast period (2016–2024)
The global polyester staple fiber market was valued at US$23,404.0 mn in 2015. Rising at a CAGR of 7.5 per cent during 2016–2024, and can reach US$42,415.1 mn by the end of the forecast period. At present, Asia Pacific is the leading regional market for polyester staple fibers and held a major share in 2015. China and India, which are major producers, and are expected to maintain their lead throughout the forecast period.
Among all the apparel industry is emerging as the most promising application segment. The growing popularity of man-made fibers in the textile industry is a key factor propelling the demand for polyester staple fibers market. The declining consumption of cotton in the textile industry world over coupled with the growing prominence of polyester staple fibers in making fabrics is a seminal factor driving the market. In addition, the growing application of polyester staple fiber in areas such as automotive, apparel, and as fiber fillings in different types of furniture has boosted the market. The wide application of polyester staple fiber in making spun yarn in the garments and textile industry continue to catalyze the market growth. A burgeoning automobile industry and accelerated automobile sales have led to an extensive use of polyester staple fibers in cars, as they are cost-effective and have high durability.
Further, the growing use of recyclable polyester staple fibers as a blend in the wadding industry has boosted the market. In addition, the use of polyester staple fibers in making needle punched non-woven fabrics are expected to accentuate the market. The strict imposition of anti-dumping duties on import of purified terephthalic acid (PTA) from major producing countries is likely to impede the market to an extent. Additionally, the prices have reduced due to the wide regulations related to cotton prices in developing countries, which has led to hamper the demand for polyester stable fibers.