The world market for Polyester Staple Fiber (PSF) is expected to grow at a CAGR of over 4% during the forecast period.

Major factors driving the market studied are increasing demand from textile industry for making apparel and rising demand from home furnishing segment. On the flipside, stringent legal and political regulations on manufactures working in polyester staple fiber market and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

Key Highlights

• Growing awareness regarding recycled polyester staple fiber due to increasing environmental concern is expected to offer various lucrative opportunities for the growth of market.
  

• By application, apparel segment is expected to dominate the market owing to the increase in the usage of polyester stable fiber for making apparels as it is cheaper than cotton.
  

• Asia-Pacific region dominated the polyester staple fiber market across the globe with the largest consumption from countries such as China and India.
  

Market Trends

Increasing Demand from the Textile Segment

• Polyester Staple fiber (PSF) is a synthetic man-made fiber made directly from purified terephthalic acid (PTA) & monoethylene glycol (MEG) or polyethylene terephthalate (PET) /Polyester waste or from recycled post consumed PET bottle flakes.
  

• The growing usage of polyester stable fiber in making sportswear, active wear, and intimate wear is stimulating the demand of polyester staple fiber in apparels segment and thus, propelling its market.
  

• Additionally, the increase in the usage of polyester staple fiber as a substitute for cotton owing to properties such as cheaper, thinner, and availability in different designs and colors is boosting the polyester stable fiber market.
  

• Furthermore, there are several hi-tech varieties of polyester staple fiber available which have antimicrobial properties and offer advanced protection against bad odor and infections. Owing to these properties the polyester staple fiber market is expected to propel during the forecast period.
  

• The revenue from the apparel market is estimated at USD 1,942,644 million for 2020 and the market is further expected to grow at a CAGR of over 4% during the forecast period. This would create ample opportunities for the polyester staple fiber market to grow during the forecast period.
  

• Owing to all the above-mentioned factors for polyester staple fiber, its market is expected to grow rapidly over the forecast period.