Albany, NY -- (SBWIRE) -- 10/07/2014 -- Polyethylene terephthalate (PET) is a material that can be finely extruded to create filaments and fibers. In this finely extruded form, PET is known as polyester fiber. The uses of polyester fiber are varied and wide. The polyester fiber market caters to industries such as rugs, carpets, nonwoven fabrics, and fiberfill. The demand for polyester fibers also comes from industrial applications such as apparel, industrial fiber, and home textiles.

The market for polyester fiber is determined by a variety of ancillary factors, the chief one being the cost and availability of raw materials. Key raw materials essential for the production of such fibers are monoethylene glycol (MEG) and purified terephthalic acid (PTA). A shortage in these materials or a spike in their costs directly impacts the polyester fiber market too.

The cheap availability of polyester fiber is its greatest advantage, and is also reason for this material having replaced many traditional fibers. However, polyester fiber is not heat resistant and it does not have absorbent properties, taking away from its user-friendly quotient.

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The future of the polyester fiber market:

Polyester fiber demand is poised to increase considerably in the near future. This will primarily happen because of the various technological advancements that have now been deployed to make filaments thinner than ever before. With the use of ultra fine filaments, polyester fiber attains a smooth texture and silky feel. These characteristics also render it better color-holding properties.

In the next few years, as the disposable incomes of consumers continue to rise, demand for products under markets such as home furnishings soar. Rugs and carpets made from polyester fiber will gain a larger share as they will likely be purchased by an increasing number of commercial and corporate buyers.

In emerging economies, construction and renovation activities are on an upswing. Interior design and decoration projects are integral to most construction activities today. Carpets, rugs, throws, and other furnishings made using polyester fiber will witness soaring demand on account of widespread construction and interior design projects.

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Segmentation of the polyester fiber market:

The polyester fiber market can be studied more effectively by segmenting it into sections such as: products, applications and geographical markets.

By Geography, the global polyester fiber market can be segmented into:

- North America
- Asia Pacific
- Europe
- the Middle East
- North Africa
- Rest of the World (RoW).

On the basis of product types, the market can be segmented and analyzed as: hollow and solid polyester fiber.
Hollow fibers will see a growing demand thanks to a parallel growth in the demand for mattresses and other such soft home furnishings. Rapid technological advancements are being made in this product segment. Other applications such as automotives, electronics, hospitality, and household are showing a progressively higher consumption of polyester fiber.

The polyester fiber market can also be split into different application segments as: carpets and rugs, fiberfill, nonwoven fabrics, and the others (industrial, apparel, and home textiles).

key players in the polyester fiber market:

The polyester fiber market is composed of a number of large, medium and small players that are scattered across the globe. A comparatively large number of polyester fiber manufacturers and suppliers are located in the emerging Asian countries. Many suppliers and manufacturers are shifting their operations to Asian economies to take advantage of the cheap labor and relatively relaxed regulatory environment here.

Companies that are most prominent in the polyester fiber market include: Nan Ya Plastics Corporation, Reliance Industries Limited, Far Eastern New Century Corporation, Mossi Ghisolfi Group, Alpek S.A.B de C.V, Sinopec Yizheng Chemical Fibre Company Limited, Indorama Ventures Public Company Limited, and Zhejiang Hengsheng Chemical Fiber Co., Ltd.

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