How Will Polyester Fiber Demand Propel Synthetic Fibers Industry Growth?

The synthetic fibers market boom from 2021 to 2030 will thrive on factors such as the surging use of polyester fibers in multiple applications, such as coated fabrics, tires, and fabrics for conveyor belts, and the escalating awareness about protection resources across the world. Moreover, the flourishing automotive sector will also steer the market growth, as automakers widely use recycled polyester fibers in vehicle carpets and seat covers.

The surging use of polyester fibers is one of the major factors driving the market growth. Polyester fibers are ideal for heavy-duty industrial applications, such as conveyor belts and car tire reinforcements, owing to their high strength and elasticity, low cost, and recyclability. Additionally, these fibers are also utilized in the production of vehicle carpets, door panels, seat fabrics, floors, roofs, and sides. These are also used in automobile safety belts, insulation materials, airbags, fuel filters, tires, and air filters.

According to P&S Intelligence, the polyester category, under the type segment, accounted for the largest share in the synthetic fibers industry in 2020, and it is projected to display notable growth in the upcoming years. This is primarily ascribed to the chemical and abrasion resistance properties of polyester fibers. Also, this material is widely used in the production of clothing, due to its high perspiration, easy wash, wrinkle-free, and shape retention properties. In addition, polyester is also used in safety belts and conveyor belts, coated fabrics, and car tire reinforcements.

Globally, the APAC synthetic fibers market generated the highest revenue in 2020, due to the high-volume production of nylon, polyester, and acrylic fibers in Japan, India, China, Taiwan, and South Korea. In addition, the lower price of synthetic fibers in comparison to natural fibers is also driving the market in the region. Owing to these factors, the regional market is also expected to demonstrate the fastest growth in this decade. 

Thus, the burgeoning demand for polyester fabrics will contribute to the market growth, worldwide.

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