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The global 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%. PSF is produced by the continuous polymerization of PTA and MEG. The old process is called the batch process, which involves the use of DMT and MEG. The polymer that is obtained is subsequently spun in its melted form to add a finish, and the bundle of continuous filaments obtained by melt spinning is called a tow. The tow is subjected to processes like drawing, crimping, and spin finish and then cut into fixed lengths to obtain cut fibers that are as long as cotton fibers; these cut fibers are known as PSF.
The growth of the market depends on several factors, including the high market growth potential in APAC, the uses of PSF in specialty fiber manufacturing, and the growth of the textile industry.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
High market growth potential in APAC is a primary factor propelling the growth of the market. In the last few years, the demand for PSF in China has been fueled by increasing exports. For instance, according to China Customs, the exports of PSF increased by 28.6% in March 2023 over the previous year. Increasing urbanization and rising per capita income in China have driven increased expenditure on clothing. China's urban population accounts for more than 75% of the expenditure on apparel. Additionally, the growing number of infrastructure and construction projects in the country is expected to increase the demand for PFRC. This is expected to positively impact the growth of the global PSF market during the forecast period.
The markets in India and Pakistan are smaller than that in China. The current focus on downstream polyester activities by companies such as Reliance Industries and Indorama Ventures is expected to drive the consumption of PSF in India. Unlike China, the markets in India and Pakistan are relatively immature, thereby exhibiting high growth potential. Other regional markets, such as Bangladesh and Cambodia, are developing downstream activities and could witness backward integration in the petrochemical value chain. Such developments are expected to drive the growth of the global PSF market during the forecast period.
Rising awareness of sustainable production methods is a major trend in the market. Developing economies have witnessed rapid economic growth following globalization. Simultaneously, environmental issues have cropped up, leading to a threat on a global basis.Therefore, with increased awareness of these threats, the demand for eco-friendly textile products is increasing, and numerous companies have adopted eco-friendly practices and have started producing eco-friendly textile products, which ensure the safety of consumers and the environment. Increasing awareness among companies and consumers regarding the impact of non-sustainable products on the environment and human health are factors that drive the demand for sustainable textile products. The textile industry is focusing on finding solutions for environmental issues such as pollution and global warming.
The textile industry is exhibiting an increased adoption of sustainable textile fibers, including organic cotton, flax, hemp, jute, sisal, abaca, and bamboo. Similarly, there is a shift in preference from petroleum-based non-biodegradable synthetic fibers like PSF to renewable and biodegradable synthetic fibers manufactured from natural resources like polylactic acid and lyocell. Rising awareness of environmental pollution and the availability of numerous alternatives have compelled manufacturers in the global textile industry to practice sustainability by adopting eco-friendly textile fibers. Such developments are expected to hamper the growth of the market in focus during the forecast period.
Fluctuations in the prices of raw materials in PSF market is a major challenge hindering the growth of the market. The global PSF market is subject to fluctuations pertaining to the prices of raw materials and energy. Over the past few years, the supply of and demand for crude oil and natural gas have been comparatively stable. However, the fluctuations in the prices of raw materials, especially crude oil-based feedstock, have hindered the growth of the global PSF market. Furthermore, uncertainties in western economies, combined with sharp declines in crude oil futures, have sparked a similar downward trend in the prices of PSF.
Therefore, the players in the market in focus use certain risk management tools for hedging; the tools include mitigating short-term market fluctuations for specific commodities like ethane, propane, benzene, and natural gas. Since companies cannot eliminate the market risks completely, they enter derivative transactions to reduce the impact caused by the sale and purchase prices of raw materials. Other external factors like unplanned disruptions in plant operations, natural disasters, changes in rules and regulations, and transportation bottlenecks also have an adverse effect on the costs and availability of raw materials. Therefore, the fluctuations in the prices of raw materials will hinder the growth of the global PSF market during the forecast period.
This report extensively covers market segmentation by Product (solid and hollow), Application (apparel, home furnishing, automotive, filtration, and others), and Geography ( APAC, North America, Europe, South America, and Middle East and Africa).
The market share growth by solid segment will be significant during the forecast period. Solid polyester staple fiber is a combination of chemical bonds and is used to produce high-loft wadding, spun yarns, and interlining. To manufacture sewing and embroidery threads spun yarns are used. Moreover, polyester-based spun yarns can be made from recycled or virgin polyester staple fiber. Yarns made from polyester staple fibers are commonly available in both two-ply and single-ply and are either raw white or dyed. Both dope-dyed spun yarns and conventional-dyed spun yarns are used to produce fabrics.
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The solid segment shows a gradual increase in the market share of USD 12,351 million in 2017 and continue to grow by 2021. By mixing a color masterbatch, dope-dyed PSF can also be obtained in optical white, black, and several other colors. Chemical-bonded and thermal-bonded are the two polyester waddings. Moreover, it depends upon the luster, solid polyester staple fiber is classified into full dull, semi-dull, and bright.
Semi-dull polyester textured yarns are manufactured using partially oriented yarns. due to the strength and durability of these yarns, they are extensively used for weaving and embroidery work in the garments and apparel industry, However, regular polyester yarns are light, stretch, and sag resistance, and they are used for lightweight fabrics like tulle, voile, and organdy. All these factors are expected to drive the growth of the market during the forecast period.
Based on application, the apparel segment dominates the market. PSF (Polyester Staple Fiber) is widely used in outerwear due to its toughness, strength, and durability. Its hydrophobic properties make it ideal for garments and jackets meant for wet environments. PSF can be coated to enhance water resistance. It is also used in jackets and quilted garments. Hollow fibers and crimped polyester in PSF provide insulation. PSF retains its shape over time, unlike cotton and wool. It is extensively used in trousers, shirts, suits, and bedsheets due to its wrinkle resistance, shape retention, and durability. Vendors are introducing new products, like Eastman's Naia Renew staple fiber, for casual wear. These factors drive the demand for PSF in the apparel segment and the global PSF market.
APAC is estimated to contribute 81% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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APAC accounted for the highest share of the global PSF market, with a significant contribution from the textile industry in 2022. Most of the demand for PSF originates from China, Japan, and South Korea. China is expected to be the key player of PSF in the region during the forecast period.
The other developed countries, such as South Korea and Japan, have witnessed an increase in the exports of apparel and textile over the last few years, driving the demand for PSF.
China is the largest producer as well as consumer of polyester staple fiber (PSF). It exports large amounts of clothing, curtains, and bedding worldwide. More than 80% of the manufacturers of these products operate in Jiangsu, Zhejiang, and Fujian provinces. The growth of the regional market in these two countries, namely China and India, is attributed to prevailing factors like the large consumer base in China, the development of the industrial fabrics, textile, and carpet industries, the rise in construction activities that boost flooring and furnishing needs, high economic growth, and an increase in disposable income levels, and rising population and urbanization. Moreover, the Indian subcontinent will remain the second largest PSF-producing region in APAC. Thus, the demand for yarn has led to an increase in the demand for PSF in the region. Such factors are expected to continue during the forecast period, which, in turn, is anticipated to drive the growth of the regional market in focus during the forecast period.
In 2020, the outbreak of COVID-19 led to the imposition of lockdowns by several countries, which severely impacted logistics and supply chain operations in APAC. All manufacturing industries were negatively affected, as their production units were temporarily closed. This hampered the growth of the regional market in APAC in 2020. However, the number of COVID-19 cases declined at the end of 2021, owing to the initiation of large-scale vaccination drives, which led to the resumption of operations in manufacturing units to full capacity. Moreover, an increase in the use of PSF by end users like the apparel, home furnishing, and automotive industries, along with an increase in PSF exports from countries like China and South Korea, are expected to drive the growth of the regional market in focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Polyester Staple Fiber (PSF) Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Xindacorp- The company offers polyester staple fiber such as Repreve, Tencel Lyocell, Colored Polyester Staple Fiber, High-Performance Polyester Staple Fiber, and Anti-Pilling Polyester Staple Fiber.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The polyester staple fiber (PSF) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Polyester Staple Fiber (PSF) Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
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 Vendors, Market Positioning of Vendors, 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Vendor Landscape
12 Vendor Analysis
13 Appendix
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