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Europe Polyester Staple Fiber Market - Forecast(2023 - 2028)
Europe Polyester Staple Fiber Market Overview
Europe Polyester Staple Fiber Market size is forecasted to reach a value of US$11.1 billion by the end of 2027 after growing at a
CAGR of 6.2% during the forecast period 2022-2027. Polyester Staple fiber (PSF)
is a synthetic man-made fiber made directly from purified terephthalic acid
(PTA), mono ethylene glycol (MEG), polyethylene naphthalate, or polyethylene
terephthalate (PET) /Polyester waste or from recycled post consumed polyethylene
terephthalate (PET) bottle flakes. The rising demand for apparel, increasing
automotive industry, increasing government initiative and increasing
construction activities in various European countries, are the prime growth
drivers of Europe polyester staple fiber industry. In addition, the rising
popularity of bio-based polyester staple fiber and the increase in adoption of
polyester staple fiber for application in newer industrial verticals and
emerging economies will create new opportunities for the Europe Polyester Staple Fiber Market. However, fluctuating prices and supply of crude oil and
complex manufacturing processes are the key restraints for the Europe Polyester Staple Fiber Market, which is anticipated to restrict the growth of the Europe Polyester Staple Fiber Market size over the coming years. Several end-use industries
in Europe's Polyester Staple Fiber industry suffered negative effects as a result
of the novel coronavirus pandemic. The production halt owing to enforced
lockdown in Europe resulted in decreased supply, demand and consumption of polyester
staple fiber in Europe, which had a direct impact on the Europe Polyester Staple Fiber Market size.
Europe Polyester Staple Fiber Market Report Coverage
The “Europe Polyester Staple
Fiber Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth
analysis of the following segments in the Europe Polyester Staple Fiber industry.
By Origin:
Virgin Polyester Staple Fiber, Recycled Polyester Staple Fiber and Blend of
Virgin and Recycled Polyester Staple Fiber.
By Type: Solid
Polyester Staple Fiber and Hollow Polyester Staple Fiber.
By End-Use Industry: Apparel and Textile (Sports Apparels, Casual Apparels, Protective
Apparels, Bio-active Textiles, Interior Textiles, Geotextiles and Others),
Automotive (Airbags, Seat & Seat Belts, Headliners, Tires and Others), Home
Furnishing (Sofa, Chairs, Upholstery, Pillows, Curtains, Carpets and Others),
Filtration (Water and Air), Building and Construction (Roofs, Tiles, Ceilings
and Others), Personal Care & Hygiene (Wipes, Diapers, Sanitary Napkins and
Others), Electrical & Electronics (Computers, Recording Tapes and Others)
and Others.
By Country: the UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest
of Europe.
Key Takeaways
- Germany dominates the Europe Polyester Staple Fiber Market, owing to the increasing production and demand for apparel, textile and automotive in Germany. This increase in production and demand can be attributed to the growing urbanization and population in Germany.
- Rising Polyester Staple Fiber demand from various end-use industries such as home furnishing, construction and automotive in Europe, owing to its long-term effectiveness, high elastic resilience, tenacity and eco-friendly nature is boosting the Europe Polyester Staple Fiber Market size growth during the forecast period.
- Various Polyester Staple Fibers, which are hi-tech in nature, are available with antimicrobial properties that offer advanced protection against bad odor and other infections. These sophisticated qualities are further contributing to the Europe polyester staple fiber industry growth.
- However, Polyester Staple Fibre R&D is a time-consuming process that requires significant financial investment. Inconsistent R&D in material enhancing and processing techniques will likely impede market expansion.
Europe Polyester Staple Fiber Market Segment Analysis – by Type
The Recycled Polyester Staple Fiber segment held a significant share
in the Europe Polyester Staple Fiber Market share in 2021 and is forecasted to
grow at a CAGR of 6.5% during the forecast period 2022-2027, owing to the
various benefits associated with recycled staple fiber when compared to other
types. A synthetic fiber created by man and made from PET/Polyester waste and
previously used PET bottles is known as recycled polyester staple fiber. It has
a broad range of applications in the non-woven carpet, wadding, filtration, stuffing,
spinning yarns and making geotextiles industries, which is assisting the
segment growth in Europe. Because recycled polyester staple fiber is produced
using recycled petroleum, there is less need for new petroleum extraction,
which lowers our overall carbon footprint. Recycled polyester production
reduces CO2 emissions by 75% compared to virgin polyester production, making it
better for the environment. As a result, the demand for recycled polyester
staple fiber is on a significant upsurge in Europe, thereby driving segmental growth.
Europe Polyester Staple Fiber Market Segment Analysis – by End-use Industry
The apparel and textile segment held a significant share in the Europe Polyester Staple Fiber Market share in 2021 and is forecasted to grow at a CAGR
of 6.8% during the forecast period 2022-2027, owing to the growing demand for
polyester staple fiber for the manufacturing of apparels because of its
properties such as lightweight, good hygroscopicity and softness. To
create thin thermal underwear, warm winter casual wear and sportswear with good
heat retention, soft feeling and soft luster, hollow polyester staple fiber is
frequently used. Additionally, it is used to create warm, soft and
wear-resistant gloves and socks. The colors and prints on polyester clothing
are typically more vibrant and long-lasting. Given that it is less expensive,
thinner and comes in a variety of patterns and colors than other fibers, it is
the most suitable substitute for cotton. As a result, polyester dominates the
textile selection for shirts and dresses. There are also numerous high-tech
varieties of polyester staple fiber that are antibacterial and offer a better
defense against odor and illnesses. The demand for polyester staple fiber is
increasing as a result of its wide range of properties, which is anticipated to
further propel the use of polyester staple fiber in the apparel and textile industry
throughout the forecast period.
Europe Polyester Staple Fiber Market Segment Analysis – by Geography
Germany held a significant share in the Europe Polyester Staple Fiber Market share in 2021 up to 27% and is forecasted to grow at a CAGR of 6.7% during the forecast period 2022-2027, owing to the bolstering growth of the apparel and textile sector in Germany. The German apparel and textile industry is growing, for instance, according to The Status of German Fashion 2021 report published by Fashion Council Germany, Germany is a major manufacturer, with the fourth highest total manufacturing output in the world.10 This prominence extends to the fashion industry, as Germany is one of the largest producers of clothing in the EU. The country's clothing manufacturing industry had a gross value added of €2.3 billion in 2018. (GVA). Germany has one of the largest consumer markets for the sale of fashion goods in the world due to its size as one of the largest economies in the world. German consumers spent €76 billion on apparel and footwear in just one year. With the bolstering growth of the apparel and textile sector in Germany, the demand for polyester staple fiber is on an upsurge in Germany. As a result, over the forecast period, the growth of the Germany polyester staple fiber industry is being directly supported by the bolstering growth of the apparel and textile sector in Germany.
Europe Polyester Staple Fiber Market Drivers
Increasing Automobile Production:
Textile materials such as polyester staple
fibers are extensively used in automobiles in the production of automobile
carpets, seating fabrics, side, roof, floor and door panels, safety belts,
tires, airbags, air filters, fuel filters, insulation materials and more. Polyester (mainly polyethylene terephthalate but also polybutylene
terephthalate and polyethylene naphthalate) is the predominant fiber used in the
manufacturing of automotive textiles. Polyester staple fibers are widely
used in automobiles because they are economical and have a high level of
durability, which has resulted from the booming automotive industry and the
acceleration of automobile sales. The automotive industry is growing in European
countries, for illustration, according to the Verband der Automobilindustrie
(VDA), in contrast to the standstill in passenger car production in Germany in
April 2020 (-97 percent), in April 2021, 316,200 cars were built
(+2701 percent). In the first four months of this year, production reached
almost 1.3 million units (+22 percent). According to the
International Organization of Motor Vehicle Manufacturers (OICA), the
production of heavy trucks increased from 236,328 units in 2020 to 308,300
units in 2021, an increase of 31%. Also, the production of light commercial
vehicles increased from 2,110,220 units in 2020 to 2,183,190 units in 2021, an
increase of 4%. With the increasing automobile production, the demand for automotive
carpets, seating fabrics, airbags and more is also increasing in the region, thereby
acting as a driver for the Europe Polyester Staple Fiber Market during the
forecast period.
Growing Building and Construction Activities:
It is well known that combining polyester staple fibers with asphalt
cement enhances the shear, tensile and temperature stability of the resulting
concrete. The demand for polyester staple fibers is gradually rising in the
European building and construction sector as builders increasingly concentrate
on making their structures stronger to comply with the strict regulations
implemented by several countries. The European building and construction
industry are gradually growing, for illustration, according to the European
Construction Sector Observatory (ECSO), the volume index of production in Ireland
broad construction sector recorded an increase of 31.4% during 2015-2020,
mainly driven by a 39.2% increase in the construction of buildings.
The volume index of production in Belgium's broad construction sector
increased by 2.8% between 2015 and 2019. Similarly, the volume index of
production in the Denmark narrow construction sub-sector increased by
17.8% during the 2015-2020 period. This was driven by the growth in the volume
index of production in the construction of buildings (+20.0%) over the same
period. In the UK, from 2015 to 2019, the volume index of production in
the overall construction sector increased by 12.4 percent. Building and civil
engineering construction both grew concurrently during the aforementioned period,
at rates of 18.4% and 11.6 percent, respectively. This growth will undoubtedly
fuel the growth of the Europe polyester staple fiber industry during the
forecast period.
Europe Polyester Staple Fiber Market Challenge
Fluctuating Raw Material Prices:
The raw materials often used for the production of polyester staple
fiber are the downstream products of crude oil such as polyethylene
naphthalate, polyethylene terephthalate, mono ethylene glycol and purified
terephthalic acid. During the previous few years, the price of crude oil has
been extremely volatile. For instance, the price of Brent crude oil has
decreased from US$98.95/bbl in 2014 to US$52.39/bbl in 2015 and increased from
US$43.73/bbl in 2016 to US$71.31/bbl in 2018 and then decreased to US$64.21/bbl
in 2019 and US$41.84/bbl in 2020, according to the BP Statistical Review of
World Energy. The volatility in the price of oil has caused fluctuation in the
prices of polyethylene naphthalate, mono ethylene glycol, purified terephthalic
acid and polyethylene terephthalate, which is the major raw material for the
manufacturing of polyester staple fiber. Thus, the fluctuation in the price of
crude oil has a direct influence on the price of the polyester staple fiber, which
is a significant challenge for the Europe Polyester Staple Fiber Market during
the forecast period.
Europe Polyester Staple Fiber Industry Outlook
Technology launches,
acquisitions and R&D activities are key strategies adopted by players in
the Europe Polyester Staple Fiber Market. The top 10 companies in the Europe Polyester Staple Fiber Market are:
- Toray Chemical Korea Inc.
- W. Barnet Gmbh & Co. KG
- Alpek S.A.B. de C.V.
- Reliance Industries Limited
- Diyou Fibre (M) Sdn Bhd.
- Huvis Corporation
- Indorama Corporation
- Xinda Corporation
- Ecoplast JSC
- Petrovietnam Petrochemical
Relevant Reports
Report Code: CMR 0498
Report Code: CMR 0576
Report Code: CMR 15749
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