The report of Polyester Staple Fiber Market is segmented By Product Type (Solid, Semi-dull Optical White, Bright Optical White, Black Dope Dyed, Coloured Dope White, Hollow, Others), Origin (Virgin, Recycled, Blended), Application (Automotive, Home Furnishings, Apparel, Filtration, Construction, Personal Care & Hygiene, Others), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 185.4 Bn by 2027, at a CAGR of 7.6% during a forecast period.
The growth of Polyester Staple Fiber Market is attributed due to expanding characteristics such as, wrinkle-free, lightweight, and ability to withstand extreme climate condition. Also, many reliable vendors use polyester staple fiber in manufacturing home furnishing, including apparel because of long term effectiveness, tenacity, high elastic resilience and eco-friendly nature of PSF. The product is also, found applicable in variant filtration fabric industries.
However, the market is also having a few limitations due to restricted patent in concern to the environment and lack of R&D in developing and under-developed nations restricts the growth and hamper the global Polyester Staple Fiber market.
Solid fibers segment based on Product is expected to grow at the highest XX% CAGR during the forecast period.
Based on product type, Solid PSF Market segments hold the largest market share of XX% in 2019 and is expected to have a promising growth at a CAGR of XX% to reach US$ XX Mn by 2027, during the forecasted period. Growing production due to increasing demand mostly in Asia pacific rising utilization in the textile manufacturing industry due to its widespread characteristic and simple handling. Further, PSF contributes to improving the overall quality cost-effectively, thereafter, boosting the demand in Polyester Staple Fiber Market.
Moreover, Hollow product segment is anticipated to witness a low growth during the forecast period.
North America is projected to witness the fastest growth during the forecast period.
Geographically, Asia Pacific is estimated to dominate the market of Polyester Staple Fiber and was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of 7.5% during the forecast period. The major factors which are driving the growth of the Polyester Staple Fiber Market are rapid development of flooring and residential furnishing and increasing demand thanks to growing development in residential and business buildings importantly in China and India are projected to reinforce the regional market growth. Also, growing population, upsurge demand for fast-fashion goods and rising in per capita financial are propelling the growth in this sector.
North America is accounted to have the second-largest share and is anticipated to grow at the fastest rate mainly due to soaring demand for residential textile and home furnishing in the sector is bolstering the merchandise demand within the region.
Key players operating in the Global Polyester Staple Fiber Market are Alpek, Bombay Dyeing, China Petrochemical, Indorama Ventures, Reliance Industries, TORAY INDUSTRIES, Tongkun Group, Zhejiang Hengyi Group, Shenghong, Xin Feng Ming Group, Hengli Group, Billion Industrial, Jiangsu Sanfangxiang Group, Nanya, Rongsheng PetroChemical, Sinopec Yizheng Chemical Fiber, Zhejiang GuXianDao Industrial Fiber, Far Eastern New Century, DAK Americas, Advansa and Lealea Group.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Polyester Staple Fiber Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Polyester Staple Fiber Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Polyester Staple Fiber Market positioning of competitors.
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