LONDON--(BUSINESS WIRE)--The global polyester staple fiber (PSF) market is expected to post a CAGR of more than 5% during the period 2018-2022 according to the latest market research by Technavio. Request a free sample report
APAC is witnessing a significant increase in the demand for finished goods despite the slowdown in the export business. Rapid urbanization and rising consumption of clothing have increased the demand for PSF in China. The implementation of stringent monetary policies by the Chinese government has also increased the demand for PSF in the country. Moreover, the current aggressive development of downstream polyester activities by prominent end-user companies in India and Pakistan has further increased the demand for PSF in APAC. The rising demand for PSF in APAC is crucial in driving the growth of the global polyester staple fiber (PSF) market.
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As per Technavio, the rising awareness of sustainable production methods will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Polyester Staple Fiber (PSF) Market: Rising Awareness of Sustainable Production Methods
The growing demand for eco-friendly products is compelling various companies to adopt sustainable practices to ensure the safety of consumers as well as the environment. This is leading to the shift in preference from petroleum-based non-biodegradable synthetic fibers such as polyester to renewable and biodegradable synthetic fibers made from natural resources such as polylactic acid and lyocell. This trend is expected to contribute significantly to the growth of the global PSF market during the forecast period.
“The emergence of textile recycling technology and increasing investments in R&D activities for the development of the textile recycling technology will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Polyester Staple Fiber (PSF) Market: Segmentation Analysis
This market report segments the global polyester staple fiber (PSF) market by application (apparel, home furnishing, automotive, filtration, and others), product (solid and hollow), and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2017, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the rapid urbanization, increasing residential and commercial construction activities, and increasing disposable income of consumers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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