Polyester has emerged over the decades to become one of the most preferred clothing and fabric materials in use today. Fabrics manufactured from polyester fiber possess excellent elasticity, shape retention, wrinkle resistance, and exceptional wash-and-wear performance and durability. The range of superior properties compared to other synthetic fibers makes it suitable for use in all kinds of fabrics.
Global Market Insights, Inc., forecasts that global polyester fiber market size will be exceed a valuation of US$190 billion by 2026, fueled by constant developments in the global fashion industry. A strong demand for high-quality home décor products will support the industry growth in the upcoming years.
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Extensive application in apparels
Today, it is almost impossible to find a consumer apparel that doesn’t contain at least some amount of polyester fiber in it. The polymer is used to manufacturing essentially every form of clothing, ranging from shirts, suits, pants, and jackets to dresses, blouses, sports and active wear, rainwear, and kids wear. Polyester is often blended with cotton or other fibers to included additional functionality.
In regions with unpredictable climatic conditions and year-round rainfall, the demand for high-quality raincoats and rain jackets is slated to boost the adoption of polyester fiber. In addition, with growing concerns regarding health and fitness, an increasing number of people are looking to include some sort of sports or physical activity into their daily routines.
Currently, more than 80 percent of the global adolescent population is insufficiently physically active, according to the World Health Organization (WHO). WHO Member States have aimed to boost physical activity around the world by up to 10% by 2025, as the lack of sufficient exercise increases the risk of several noncommunicable diseases (NCDs) including cancer, diabetes, and cardiovascular diseases.
These trends are likely to further encourage participation in sports and other forms of physical activity, augmenting polyester fiber market forecast.
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Major growth restraints and the impact of COVID-19
Fluctuations in raw material prices and the lack of availability or shortage of raw materials due to the recent coronavirus outbreak have become major roadblocks for polyester fiber industry growth. Nationwide lockdowns in wake of the pandemic and the subsequent decline in manufacturing activities is significantly affecting the Polyester Fiber Market forecast.
However, easing restrictions in several regions and resumption of manufacturing and industrial operations in the near future may boost polyester fiber market outlook.
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