Polyester fiber, a synthetic material, is manufactured from polyethylene glycol and terephthalic acid, offering extreme elasticity, high wrinkle, and abrasion resistance capacity. According to BlueQuark Research & Consulting, the global polyester market is expected to witness considerable growth during the forecasted period. Factors such as increasing demand for polyester from the apparel industry, and increasing cost competitiveness, which has shifted the industry to manufacture clothes from low-cost fibers, are expected to drive the global polyester fiber market during the forecasted period. Further, growing construction sector, the number of buildings and houses has been increasing, leading to an increased demand for home furnishing, which is expected to drive the Polyester market during the forecasted period. Furthermore, polyester fibers are commonly utilized in the textile and apparel industry, and the growth in these industries is one of the important factors driving the demand for polyester fibers. However, the polyester coatings are manufactured from ethylene, a petroleum derivative, leading to the high cost of raw materials that may act as a restraint for the global Polyester market.

Polyester fibers are used explicitly in apparel & home furnishing materials, upholstered furniture, and many industrial applications, including safety, car tire reinforcements, and conveyor belts. Furthermore, in combination with natural fibers, these materials can be utilized to make sportswear and quality clothes.

The growing usage of polyester in making sportswear, activewear, and intimate wear is stimulating the demand for polyester in the apparel segment and, thus, propelling its market. Polyester fabric are used to make a wide variety of products - this includes jackets, shirts, pants, blankets, bed sheets, cushioning and insulating material in pillows, upholstery padding, comforters and upholstered furniture. Additionally, the surge in the usage of polyester as a substitute for cotton owing to properties such as thinner, cheaper, and availability in different designs and colors is boosting the polyester market during the forecast period. Rapidly variable fashion trends and modern living standards will create opportunities for high-end polyester fibers, exhibiting high durability, quick-drying, and easy-to-wash abilities. Rising income levels and rapid urbanization have propelled fashion trends in emerging economies. With easy access to the internet in many rural and semi-urban areas, the need for unique fashion products in the apparel section and home decoration segments is further predicted to increase. Polyester fibers are created from polyethylene terephthalate (PET), which can either be recycled or virgin (PET). Due to its adaptability, low cost, high strength, recyclability, elasticity, easy stretchability, and excellent resistance to wrinkles, abrasion, and fungus, it has become the most utilized fiber in the textile sector. These fibers are dry quickly and hydrophobic and can also be utilized as insulation in the shape of hollow fibers. It can hold more wear and tear than cotton and other textiles and keeps its shape even in adverse weather. Dope dyeing or pigmentation can be utilized to color these fibers, which is expected to boost the global market development of polyester fibers during the forecasted period.

The Asia Pacific region is awaited to dominate the polyester market during the forecast period. In countries like India, China, and Japan, owing to an increase in demand from various applications in apparel and home furnishing coupled with a growing population, changing lifestyles, economic growth, and rising per capita income, the need for polyester has been rising in the region. Customers are collecting feasible designs fabricated from reused and conditioned amicable items like polyester. Thus, the accessibility of supportable attire in the beautiful plan, splendid hues, and alluring prints further boost the polyester market. The polyester fiber market is primarily propelled by rising demand for rugs and carpets from the commercial and residential sectors. In addition, an upsurge in demand for nonwoven materials and products and increasing urbanization and the home décor industry are expected to fuel the polyester fiber industry's growth. Other significant factors influencing the polyester fiber market growth are the development in the global fashion industry, growing demand for products from various end-use industries such as household, automotive, hospitals, and electronics and a surge in the number of applications of hollow polyester fibers in medical applications. Polyester fibers provide superior characteristics at an affordable cost over their substitutes like cotton, wool, nylon, and polypropylene and are set to dominate the global fiber sector. Notably, the mounting need for quality rugs and carpets for thermal insulation and aesthetic appearance is set to bolster market growth through the forecasted period. Shifting consumer preferences supported by modern lifestyles are also likely to drive the adoption of fashionable products. Moreover, a rise in technical innovations and increasing research and development facilities will soon establish new opportunities for ordinary bearing manufacturers. Polyester filament is overtaking cotton as the dominant fiber in the home furnishing industry with the latest interior design concepts and growing urbanization, especially in developing countries. Polyester filament demand in the home furnishing and apparel industry will continue to be strong in the forecasted period.

The polyester market was found to be segmented. Some major players operating in the worldwide Polyester Fiber market are Reliance Industries Limited, Indorama Ventures Public Company Limited, William Barnet and Son, LLC, GreenFiber International S.A., Sarla Performance Fibers Limited, PolyFiber Industries, Nirmal Fibers (P) Ltd, Silon s.r.o, Swicofil AG, and many more.

In October 2019, Texprocil reported the changing consumer preferences from cotton mills to polyester makers. The drop of 38.8% YoY dip in India's cotton yarn was recorded, leading to cheer for polyester industries.

The global Polyester Market report provides deep insight into the current and future state of the polyester market across various regions. The study comprehensively analyzes the Polyester market by segmenting based on geography, type (PET Polyester, PCDT Polyester), and application (Carpets & rugs, Nonwoven fabrics, apparel, Textiles & Others). The report examines the market drivers and restraints influencing the growth in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.