ALBANY, New York, March 4, 2019
ALBANY, New York, March 4, 2019 /PRNewswire/ -- Transparency Market Research (TMR) notes that the global polyester staple fiber market is categorized by the presence of several large and small players operating in it. Thus, the competitive landscape of the market has underwent successive fragmentation in the coming years. The rivalry between the potential players is likely to increase as they aim at delivering quality product along with maintaining the price of the product.
Out of the various strategic alliances adopted by players in the global polyester staple fiber market to stay ahead of the competitors, bolstering product development and expanding product portfolio have paid off the most. The global polyester staple fiber market is expected to grow steadily due to the existence of potentially large players who are capitalizing on their brand value for establishing their credibility in the market. Such leading vendors are also banking on their ability for innovative offerings to gain a competitive edge in the market. Some of the leading players in the global polyester staple fiber market are China Petroleum & Chemical Corporation, Indorama Ventures Public Company Limited, Alpek S.A.B de C.V, and Reliance Industries Limited.
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The TMR report projects the global polyester staple fiber market to register an impressive CAGR of 4.10% from 2017 to 2025. The market stood at US$23.167bn in 2017. By the end of 2025, the market will be worth US$34.546 bn, predicts the report.
Among various end-users, automotive accounts for a leading share in the market. This is expected to fuel demand in the polyester staple fiber market due to their cost effectiveness, durability, and extensive application in making car fabrics. Region wise, Asia Pacific is expected to contribute the largest share in the global polyester staple fiber market in the coming years. This is attributed to increasing commercial construction activities and rapid urbanization in the region.
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Flourishing Construction Sectors Augments Demand in Polyester Staple Fiber Market
Polyester staple fiber is a coherent part of rising textile industry worldwide. It is one of the versatile man-made fibers which possess various unique properties. These further supplement the fibers' demand in numerous applications areas. Polyester staple fiber is widely used in automotive, fiber filling, filtration, textiles, and home furnishing. The demand for polyester staple fiber is increasing due to its excellent qualities, thereby propelling the market growth. Apart from these, growing demand for polyester staple fiber for manufacturing several types of apparels, and increasing need for personal care products are also fueling demand in the global polyester staple fiber market.
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Furthermore, increasing construction activities in developing economies, and rising demand for polyester staple fibers in home furnishings are also boosting the global polyester staple fiber market. Along with these, growing residential constructions, rising disposable income of consumers, and rapid urbanization are also anticipated to encourage growth in the global polyester staple fiber market.
Usage of Harmful Polyester Staple Fiber Hinders Market Growth
Some of the challenges hindering the growth of the global polyester staple fiber market are fluctuation in raw material prices, and strict government norms against the usage of harmful polyester fibers. Nonetheless, rising investments in research and development for producing less hazardous fibers is believed to help industry players overcome these challenges in the near future.
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The review is based on a market research report by TMR, titled, "Polyester Staple Fiber Market (Type - Solid (Semi-dull Optical White, Bright Optical White, Black Dope Dyed, Colored Dope White, Others Semi-dull, and Others Bright) and Hollow; Origin - Virgin, Recycled, and Blend of Virgin and Recycled; End User - Apparel, Automotive, Home Furnishing, Filtration, Construction, and Personal Care and Hygiene) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025".
The segmentation of global polyester staple fiber market is based on:
o Semi-dull Optical White
o Bright Optical White
o Black Dope Dyed
o Colored Dope Dyed
o Others Semi-dull
o Others Bright
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