Polyester staple fibers are the lightweight, wrinkle-free and light & whether resistant. It also further has ability to withstand in extreme climatic surroundings. These are also widely used in automotive, fiber filling, filtration, textiles, and home furnishing. In addition the demand for polyester staple fibers is witnessing a consisting upsurge due to their outstanding qualities. These fibers also used for manufacturing different apparels for personal care products and further supporting rise in demand.
According to study, “Global Polyester Staple Fiber and Rasin Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global polyester staple fiber and rasin market are Tongkun Group, Zhejiang Hengyi Group, Reliance Industries Limited, Hengli Group, Shenghong, Jiangsu Sanfangxiang Group, Xin Feng Ming Group, Zhejiang GuXianDao Industrial Fiber, Billion Industrial, DAK Americas, Nanya, Far Eastern New Century, Rongsheng Petro Chemical, Lealea Group, Advansa. The key market players are focusing on parameters associated to finished products, after sales support, and credit terms for buyers for gaining a competitive edge over others. The polyester staple fiber market presently includes vendors competing with each other with lacking of new entry from the external market players. The product quality, credit terms, and price comprise of the main parameters supporting the market for competing. In addition, the market participants are keep engaging over the core research and development so to devise novel services and products.
Based on type, polyester staple fiber and rasin market is segmented into Polyester Filament Yarn (PFY), Polyester Staple Fiber (PSF) and others. Based on product type, market is segmented into hollow and solid. Solid polyester staple fiber segment is estimated to exhibit substantial growth rate owing to increase in popularity of viable man-made fibers coupled with reducing consumption of cotton in textile industry during the forecast period. Based on origin of fiber, market is segmented into recycled polyester staple fiber, virgin polyester staple fiber and blend of virgin and recycled polyester staple fiber. In addition, based on application, market is segmented into apparel, household & institutional textiles, industrial & consumer textiles and carpets & rugs.
The polyester staple fiber and rasin market is driven by rise in popularity of man-made fibers in the textile industry, followed by growth in application of polyester staple fiber in areas such as apparel, automotive, and as fiber fillings in different types of furniture. However, strict government norms against the usage of harmful polyester fibers and fluctuation in raw material prices may impact the market. Moreover, rise in investments in research & development (R&D) for producing less hazardous fibers is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in polyester staple fiber and rasin market owing to increase in residential sectors and growth in spending capacity of the people in the region. Whereas, the European and North-American regions are expected to witness higher growth rate due to increase in commercial construction activities over the forecast period. In upcoming years, it is anticipated that future of the market will be bright as a result of increase in need for personal care products during the forecast period.
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Ankur Gupta, Head Marketing & Communications