The global prominence of polyester fiber market is explicitly conspicuous from the storm of investments and partnerships witnessed in the polymer realm in the year 2017 so far. One of the most recent precedents is that of the European Investment Bank (EIB) announcing its decision to lend close to EUR 7.5 million (approximately USD 8.8 million) to GreenFiber International S.A., one of the key subsidiaries of the Green Group – the largest South-east Europe based integrated recycling park. Based in Romania, this polyester fiber industry giant aims to considerably strengthen its commitment toward the environment by means of manufacturing eco-friendly polyesters. EIB’s funding to the company is focused on one of its proposed recycling & circular economy. It has however, been predicted that the capital will considerably help GreenFiber International augment its polyester output, thereby helping the firm strengthen its presence across Europe polyester fiber market.
Europe Polyester Fiber Market Size, by Product, 2013 – 2024 (USD Million)
Speaking along similar lines, it is noteworthy to mention that Green Group’s contribution toward Europe polymer fiber market commenced way back since its inception. In the year 2015, the integrated company, comprising GreenTech S.A., GreenFiber International S.A., GreenWEEE International S.A., GreenLamp Reciclare S.A., GreenGlass Recycling S.A., and Total Waste Management S.R.L., announced its long-term plans to establish a new plant in Northwestern Romania to significantly increase its waste processing capacity. Alongside, it was revealed that the group’s long-term goals were inclusive of massively increasing its polyester production capacity. Considering the vast expanse of the association across Romania, its longstanding aim regarding the polyester domain is certain to impel the regional polyester fiber market size, cite experts.
Boasting of a considerably widespread application spectrum inclusive of home textiles, non-woven fabrics, fiberfill, carpets and rugs, and myriad apparel, polyester fiber industry acknowledges the construction sector as its primary end-use domain. However, polyester fibers, renowned for their extreme strength, tear resistance, superior quality, wrinkle-free property, and reduced shrinkage, are extensively deployed across the automotive and medical sectors as well. SILON, the reputed Czech-based plastics manufacturer boasts of a massive product portfolio comprising polyester fibers, which are liberally deployed across myriad industrial domains across Europe. Speaking along the same lines, the Europe polyester fiver market player recently made it to the headlines for its announcement of investing close to USD 20 million in Peachtree City factory, Georgia. With this investment, SILON, as per experts, aims to firmly establish base in the U.S. polyester fiber market. Given that the region is a flourishing hub as far as the construction and automotive sectors are concerned, the demand for polyester fibers across the nation is expected to surge in the years ahead, validating SILON’s proposed investment in the U.S. state that has recently emerged to be the nerve center for inbound projects.
Unveiling polyester fiber market outlook across the Asia Pacific
Touted by experts to be one of the most robustly expanding economies across the globe, APAC stands at the helm of polyester fiber industry currently, primarily due to the massively growing construction sector in the region. Considering the vast expanse of residential and commercial projects spanning the continent, the demand for high-grade flooring, home décor, and furnishing activities is likely to escalate. In consequence, the requirement for home textiles, carpets, rugs, non-woven fabrics, etc., would observe a notable hike, on the grounds of which it has been aptly projected that APAC would be one of the most remunerative avenues for the growth of polyester fiber market. Given the substantially high product usage in the interior décor for residential and commercial spaces across countries such as India and China, Asia Pacific held an arguably massive share in the global polyester fiber industry revenue in 2016.
APAC polyester fiber market has witnessed numerous developments in recent times, that have been projected to have a marginal yet powerful impact on its revenue graph. A couple of pivotal precedents have been highlighted beneath:
The aforementioned instances potentially validate the significance that participants on the home ground have on the regional polyester fiber market size. Heavily augmented by periodic product novelties and M&As, Asia Pacific polyester fiber industry is likely to account for a substantially huge share of the overall revenue by 2024.
The ongoing trends of sustainability have considerably influenced polyester fiber market. Driven by the global urgency to protect the environment, companies have begun to brainstorm eco-friendly polyester yarns. The synthetic fiber manufacturer, Trevira, for instance, has launched Sinfineco - a new recycled brand of polyester fabrics that reportedly meet the GCS-NL recycled claim standard and the Global Recycled Standard.
Extensively driven by the humongous demand for carpets, furnishings, and apparel worldwide, polyester fiber market stands to gain much in the ensuing years. Not to mention, the appreciable contribution of the crème de la crème of this industry’s competitive landscape, would only serve to further transform polyester fiber industry outlook. Endorsed by a colossal application portfolio, in addition to the substantial product innovations marking their debut, polyester fiber market share has been projected to register a CAGR of nearly 8% over 2017-2024.