The Polyester Staple Fiber (PSF) Market size to grow by USD 7,681.36 million from 2022 to 2027; Growth opportunities led by Alfa Corporativo S.A. de C.V. and Atulit Impex Pvt. Ltd.

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16 Aug, 2023, 00:00 ET

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NEW YORK, Aug. 16, 2023 /PRNewswire/ -- The polyester staple fiber (PSF) market size is estimated to grow by USD 7,681.36 million between 2022 and 2027 exhibiting a CAGR of 6.31%, according to Technavio. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report

Polyester Staple Fiber (PSF) Market 2023-2027: Scope

Technavio presents a detailed picture of the market by study, synthesis, and summation of data from multiple sources. The polyester staple fiber (PSF) market report covers the following areas:

Polyester Staple Fiber (PSF) Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market companies also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Alfa Corporativo S.A. de C.V., Atulit Impex Pvt. Ltd., Diyou Fibre M Sdn Bhd, Eastman Chemical Co., Far Eastern New Century Corp., Green Group SA, Huvis Corp., Indorama Corp., Jiangsu Sanfangxiang Group Co. Ltd., Kayavlon Impex Pvt. Ltd., Nirmal Fibres Pvt. Ltd., Reliance Industries Ltd., Shanghai Vico Industrial Co. Ltd., Stein Fibers Ltd., The Bombay Dyeing and Manufacturing Co. Ltd., Toray Industries Inc., Vishal Poly Fibres Pvt. Ltd., VNPOLYFIBER, XINDA Corp., and Zhejiang Anshun Pettechs Fibre Co. Ltd. are among some of the major market participants.

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Polyester Staple Fiber (PSF) Market 2023-2027: Market Dynamics

Key Driver

High growth potential in APAC is a key factor driving market growth. The recent increase in exports has boosted demand for PSF in China, which, along with an increase in construction and infrastructure projects, is expected to boost demand for PFRC. Moreover, India and Pakistan are immature markets with significant growth opportunities. Similarly, emerging markets such as Bangladesh and Cambodia are progressing in their downstream operations and may undergo petrochemical value chain integration. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

Rising awareness of sustainable production methods is a significant trend in the market. Increased businesses and consumer awareness of the environmental and health impacts of non-sustainable goods propel the demand for eco-friendly textiles. The textile industry is adopting sustainable fibers, such as organic cotton, flax, hemp, jute, sisal, abaca, and bamboo, while also shifting from non-biodegradable synthetics like PSF to renewable options like polylactic acid and lyocell, derived from natural sources. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

Fluctuations in the prices of raw materials is a significant challenge restricting market growth. Market-based participants use risk management tools, such as hedging, to hedge against short-term fluctuations in commodities such as ethane, propane, benzene, and natural gas. Derivatives are used to minimize the impact on the buying and selling prices of commodities, as risk cannot be eliminated. External factors such as plant disruptions, natural disasters, regulatory changes, and transportation restrictions further impact the cost and availability of raw materials. Hence, the fluctuations in the prices of raw materials are expected to restrict market growth during the forecast period.

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Polyester Staple Fiber (PSF) Market 2023-2027: Segmentation

Polyester Staple Fiber (PSF) Market is segmented as below:

The market share growth by solid segment will be significant during the forecast period. Strong polyester staple fibers are a mixture of chemical bonds, used in lofty wadding, spun yarns, and interlining. Furthermore, spun yarns are used to make sewing and embroidery threads, which can be made from recycled or new polyester staple fibers. Two types of polyester wadding exist chemical bonds and thermal bonds. Regular polyester yarns offer properties such as lightness, stretch, and resistance to sagging, making them ideal for delicate fabrics such as tulle, voile, and organdy. Thus, these factors are expected to drive segment growth during the forecast period.

APAC is estimated to contribute 81% to the growth of the global market during the forecast period. China, Japan, and South Korea generate significant demand for PSF, with China emerging as a major player in the region. China, one of the significant polyester staple fiber producers and consumers, benefits from factors such as a large consumer base, growth in industrial fabrics, textiles, and carpets, construction demand boom fueled demand for flooring and furniture, strong economic growth, and increasing single-use demand. income and population growth and urbanization. Hence, these factors are expected to drive market growth in the region during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027) – Download a Sample Report

Polyester Staple Fiber (PSF) Market 2023-2027: Key Highlights

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Polyester Staple Fiber (PSF) Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.31%

Market growth 2023-2027

USD 7,681.36 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.86

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 81%

Key countries

US, China, Japan, South Korea, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Alfa Corporativo S.A. de C.V., Atulit Impex Pvt. Ltd., Diyou Fibre M Sdn Bhd, Eastman Chemical Co., Far Eastern New Century Corp., Green Group SA, Huvis Corp., Indorama Corp., Jiangsu Sanfangxiang Group Co. Ltd., Kayavlon Impex Pvt. Ltd., Nirmal Fibres Pvt. Ltd., Reliance Industries Ltd., Shanghai Vico Industrial Co. Ltd., Stein Fibers Ltd., The Bombay Dyeing and Manufacturing Co. Ltd., Toray Industries Inc., Vishal Poly Fibres Pvt. Ltd., VNPOLYFIBER, XINDA Corp., and Zhejiang Anshun Pettechs Fibre Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio