Polyester is the most used and most preferred fibre in the textiles industry due to its better physical properties, lower price, versatility, and recyclability, which offer a completely unique set of benefits unmatched by any other natural or synthetic fibres. Globally, the polyester fibre market accounts for around 50 per cent of the total man-made and natural fibre market.
As far as end use of polyester fibre is concerned, it has been segmented into apparel, home furnishing, automotive, construction, filtration, and personal care and hygiene applications. The production of apparel was around 50 per cent of the total polyester fibre end-uses in 2016. Home furnishings constituted the second-largest end-use sector, accounting for about 25 percent of the total global polyester volumes produced.
Global consumption and demand of polyester
Since 2000, the global demand for polyester fibres has increased at a sustained average rate of about 5 per cent per year, owing to its lower cost, versatility, and relatively large areas of applications (from consumer apparel to heavy industrial applications).
The global demand for polyester fibres was dominated by polyester yarn, in 2016, which accounted for about 68 per cent of overall consumption. Currently, Asia is the largest consuming region globally, where the fast-growing textile Industries (weaving, garment manufacturing, dyeing and finishing) have been consuming increasing amounts of polyester fibres. By far, China holds major proportion of overall polyester consumption in Asia region, followed by India and Southeast Asia.
Source: Secondary Research
The worldwide marketplace of polyester staple fibre as an important candidate of the group of manmade fibres seems to have taken command of the textiles industry lately. It is expected to expand at a healthy pace in the next few years. It is estimated that the global polyester staple fibre market, which was valued around US$ 23,400 million in 2015 is expected to reach US$ 42,400 million by 2024. In terms of volume, the market for polyester staple fibre is expected to increase at a CAGR of 4.0 per cent over the same period.