World Consumption of Polyester Fibers: A Quick Look at the Market Trends in 2022

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Here is an interesting fact. Statistics show that polyester fiber holds more than half of the global fiber market.

The economic predictions were pointing to a CAGR of 4% between the years 2021 to 2025.

2022 has been a year of tug of war between growth drivers and constraints for the polyester market. The driver for PSF market is demand from the textile industry. With a growing usage in sportswear, activewear, and intimate wear the market was set to hit the target. Yet, the Covid 19 outbreak at the start of the year has been working against this expectation. Achieving that growth rate remains a forecast until the end of the five years owing to the rocky start.

In the past few years the main production capacity and consumption of polyester went to Asia.

China is the largest producer as well as consumer of polyester fiber. It exports large amounts of clothing, curtains, and bedding worldwide. The world’s polyester giant has a production capacity of about 8 million tons of PSF per year. More than 80% of these manufacturers operate in Jiangsu, Zhejiang, and Fujian provinces.

What are the consuming patterns of polyester worldwide? We are taking a quick look at those trends for the year 2022.

The Consumption Trends

Consumer Application -Textile versus Furnishing

The textile segment continues to dominate the market share. Garments, apparel, and other textile goods producers make the top global polyester consumer. The second biggest consumer is the home furnishing sector. Its main consumers come from the home decor industry, households, and business spaces.

Product Segment -Filament versus Staple

Overall, filament has the largest market share of polyester fiber.

On the staple types, Solid fiber has been gaining popularity over the years. This is because of growing textile manufacturing industries in APAC emerging economies. The prediction is that this trend will continue over the coming years.

Regions

The Asia-Pacific (APAC) region contributes to the largest global consumption share. In this region, China and India lead the market share for polyester fiber. Studies show that growth in the two countries is because of the prevailing factors

1.Large consumer base in china.

2.Development of industrial fabrics, textiles, and carpet industries.

3.Rise in construction activities boosting flooring and furnishing needs.

4.Economic growth and an increase in income levels.

5.Increasing population and urbanization

Consumption Market Drivers

The consumer needs in different regions form the driving factors for consumption. Some factors are as below

1.A spike in demand for textile and upcoming industries in Asia.

2.Increasing building and construction activity.

3.Changing fashion trends- Ability to create bright colors and prints from polyester material.

4.Environmental awareness fueling the demand for recycled polyester.

5.A digital value chain.

Consumption Constraints

Covid 19 Outbreak

The coronavirus has been the main factor impacting the business world of fiber. Adverse effects include plunging oil prices, product production, and a static inventory burden.

The Legal and Political Climate

Following the pandemic, many countries and companies had to adjust how they operate. The sudden shift had a disorienting impact on the smooth flow in the value chain. For Companies handling the logistics, there was a delay because of travel restrictions.

China and USA trade tensions

This war between the largest producer and the largest market affects the value chain. The tensions gave birth to tariffs on many products from both countries.

There is hope for an ease in the tension with Biden’s presidential win. But, a shift in policies affecting the industry will not be immediate.

USA anti-dumping measures- The restrictions against some polyester grade fiber from specific countries.

Growth Opportunities

The fiber market shows growth potential in the apparel and home furnishing sectors. Polyester is the best alternative to cotton. Hence, most fashion houses are infusing it in their clothing line. While, staple fibers have qualities like antimicrobial properties that protect against infections. These are attractive to segments such as sportswear.

The home furnishing industry is also becoming a big consumer of staple fiber. The application ranges from padding, stuffing to furniture and bedding

To Recap Important Market Trends for 2022

1.The current market dominance by the APAC region will continue for at least a few years.

2.The textile industry segment is the leader in polyester market fiber. Yet increasing demand for home furnishing is catching up.

3.The demand for home furnishing is propelling the staple fiber market to expansion.

4.Textile consumers are opting for sustainable fashion and manufacturers of recycled staple fiber.

5.The home furnishing market in Asia-Pacific will keep growing in the next few years.

Despite the rocky year, new factors promise an increase in polyester consumption. Thus, support from governments and acclimatization to operating in a Covid 19 world.

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