The global polyester market volume is expected to reach 107.84 million tonnes in 2023, growing at a CAGR of 5.60% for the period 2019-2023. The growth in the polyester market is expected to be driven by the factors such as rising prices of cotton, increasing global GDP, rapid urbanization, growing population, increasing production of automotive and rising PET packaging demand. However, the growth of the industry will be challenged by availability of alternatives of polyester, fluctuating oil prices, trade tensions between US & China and increasing wages in production of polyester. There are few trends & developments such as rising demand for bio-based PET and a variety of modifications in polyester fiber to improve dyeability & hydrophilicity that would influence the growth of the industry.
The polyester market mainly comprises three segments: fiber, PET resins and films. Due to the increasing use of polyester fiber in the textile industry, polyester fiber is able to capture a larger share in the market as compared to other segments. In 2018, polyester fiber has the largest production volume amongst all the segments.
The fastest growing regional market for polyester is China. It holds the largest production volume of polyester, among all the countries producing polyester. China is the major exporter of polyester to the U.S., India, Vietnam and many more countries.
Scope of the report:
• The report provides a comprehensive analysis of the global polyester market along with focus on China’s polyester market, segmented into fiber, PET resins, films and other resins.
• The major regional market (China) has been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Reliance Industries, Eastman Chemicals, Tongkun Group, Mitsui Chemicals, Hengli Petrochemicals and Rongsheng Petrochemicals) are also presented in detail.
Key Target Audience:
• Polyester Manufacturers
• Raw Material/Component Suppliers
• End Users (Households & Commercials)
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities