H1 2023: During the first half of 2023, the Asia Pacific region asserted its dominance as the largest consumer and producer of Polyester Staple Fibre (PSF). The initial phase of Q1 2023 experienced a surge in PSF prices driven by heightened demand from the spinning and weaving industries. However, the latter part of Q1 witnessed a reversal in prices attributed to factors such as increased stocks, evolving supply and demand dynamics, and a sense of uncertainty prevailing in the market. The downward trend in the PSF market continued unabated throughout the second quarter of 2023 in the Asia-Pacific (APAC) region. Decreased demand for polyester materials resulted in the accumulation of surplus inventories, precipitating a decline in PSF prices. The textile sectors in South Korea encountered challenges marked by declining orders and production cuts. Despite positive signals indicating improvements in supply chains, the prevalence of excess inventories in the region contributed to the overall decrease in PSF prices. Concurrently, the operating rates of PSF production demonstrated an increase in price, reflecting an enhanced overall operating rate. Robust imports from China to Western nations persisted, maintaining optimal operating rates particularly in the Zhejiang and Jiangsu regions.
The global Polyester Staple Fibre (PSF) market stood at approximately 1960 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 3.8% during the forecast period until 2032.
Polyester staple fiber (PSF) stands as a synthetic fiber of high significance, crafted from polyester, a polymer derived from petroleum. Fabricated through the melt spinning process, wherein polyester chips undergo melting and extrusion through spinnerets to form fine fibers, PSF emerges as a versatile material adaptable to numerous applications. Its deployment in the textile industry is extensive, contributing to the creation of fabrics, apparel, and home textiles, owing to its notable attributes of durability, wrinkle resistance, and ease of maintenance. Beyond textiles, PSF finds diverse uses in the production of non-woven fabrics, serving purposes in items like wipes, hygiene products, geotextiles, and automotive interiors. Hollow polyester staple fiber, in particular, gains prominence as a filling material in pillows, cushions, and bedding products, offering lightweight yet resilient properties. The automotive industry benefits from the material's durability in seat cushions and interior components, while geotextile applications utilize PSF for soil stabilization and erosion control. With applications extending to filters, carpets, and industrial uses like ropes and conveyor belts, PSF emerges as a multifaceted material of choice. Its cost-effectiveness, ease of processing, and adaptability to an array of applications solidify its integral role in the textile and manufacturing realms, positioning polyester staple fiber as a cornerstone in diverse industries.
The Polyester Staple Fiber (PSF) market is thriving due to robust demand in key end-user segments, namely Home Furnishings, Apparel, and Automotive. In Home Furnishings, PSF is favored for its versatility and cost-effectiveness, finding applications in carpets, curtains, bedding, and upholstery. The growing home decor market, driven by evolving interior design trends and housing construction, significantly contributes to the escalating demand for PSF. The Apparel industry witnesses PSF as a preferred choice for garments like shirts, pants, dresses, and activewear. The fiber's attributes, such as durability, wrinkle resistance, and ease of care, make it a suitable option. As consumer preferences evolve, demanding affordable yet stylish clothing options, the demand for PSF in the Apparel sector continues to soar. In the Automotive sector, PSF plays a vital role, particularly in car interiors, manufacturing seat covers, carpets, and various textile components. The automotive industry's growth and innovation, fueled by consumer desires for comfortable and aesthetically pleasing interiors, contribute to the sustained demand for PSF. The PSF market benefits from its adaptability across diverse applications within these dynamic end-user industries, showcasing its resilience and growth potential in response to evolving market trends and consumer preferences. The global Polyester Staple Fibre (PSF) market size is anticipated to reach nearly 2850 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Polyester Staple Fibre (PSF). The Asia Pacific region is set to maintain its position as the largest consumer of Polyester Staple Fiber (PSF) in the coming years due to several influential factors. The region's rapid industrialization and urbanization are generating a heightened demand for PSF, particularly in the production of textiles, apparel, home furnishings, and automotive components. The expanding population, coupled with the rising disposable income and an enlarging middle class, contributes to increased consumer spending on clothing and textiles made from PSF. As a pivotal global manufacturing hub, the Asia Pacific region relies extensively on PSF across various industries, further fueling its consumption. The flourishing automotive sector, ongoing infrastructure development projects, and robust growth in the textile industry solidify the region's dominance in PSF consumption.
Based on the end-user industry, the global Polyester Staple Fibre (PSF) market is segmented into Home Furnishings, Apparel, Automotive, Personal Care & Hygiene, Construction, and Others. However, Home Furnishings and Apparel industries are the major end uses of the global Polyester Staple Fibre (PSF) market.
Major players in the Global Polyester Staple Fibre (PSF) market are Alpek SAB de CV, Bombay Dyeing, Diyou Fibre (M) Sdn Bhd, Far Eastern Group, Huvis, Indorama Ventures, Komal Fibres, Nirmal Fibres, Reliance Industries, RUDRA FIBRE, Shubhalakshmi Polyesters Ltd, Tongkun Group, TORAY INDUSTRIES, W. Barnet GmbH & Co. KG, XINDA Corp., and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polyester Staple Fibre (PSF) which covers production, demand and supply of Polyester Staple Fibre (PSF) market in the globe.
• To analyse and forecast the market size of Polyester Staple Fibre (PSF)
• To classify and forecast Global Polyester Staple Fibre (PSF) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyester Staple Fibre (PSF) market in the globe.
To extract data for Global Polyester Staple Fibre (PSF) market, primary research surveys were conducted with Polyester Staple Fibre (PSF) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyester Staple Fibre (PSF) market over the coming years.
ChemAnalyst calculated Polyester Staple Fibre (PSF) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polyester Staple Fibre (PSF). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyester Staple Fibre (PSF) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyester Staple Fibre (PSF) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyester Staple Fibre (PSF) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyester Staple Fibre (PSF) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1960 thousand tonnes
Market size Volume in 2032
2850 thousand tonnes
Growth Rate
CAGR of 3.8% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Home Furnishings, Apparel, Automotive, Personal Care & Hygiene, Construction, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Polyester Staple Fibre (PSF) in terms of volume in 2022?
Ans:
The global market size of Polyester Staple Fibre (PSF) had reached approximately 1960 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Polyester Staple Fibre (PSF)?
Ans:
Asia Pacific region is the leading consumer of Polyester Staple Fibre (PSF) globally.
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