Polyester Staple Fiber Market Drivers
Increasing Automotive Production
Textile materials such as polyester staple fiber 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. China is the world’s largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects the production of automobiles to reach 35 million by 2025. According to OICA, the production of passenger cars in Africa was 776,967 in 2018, which then increased to 787,287 in 2019, a total increase of 1.3%. According to OICA, the production of light commercial vehicles has increased from 1,348,932 in 2018 to 1,431,904 in 2019, an increase of 6.2% in Canada. Thus, increasing automation production will require more polyester staple fiber for manufacturing various automotive components, which will act as a drive
Research and Markets: European Synthetic Fibers Market (2020 to 2026) - Featuring Asahi Kasei, BASF and Eastman Chemical Among Others - ResearchAndMarkets.com
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The European market for synthetic fibers is projected to grow at a CAGR of 6.7% during the forecast period.
According to the European Commission in 2017, synthetic fibers such as polyester, acrylics, and elastane make up around 75% of the total fiber market in Europe. There are various pivotal factors such as a well-established chemical sector, increased production in textile sector, and considerable growth in eco-friendly building construction industry that are driving the European synthetic fibers market.
The market is classified on the basis of type and application. Based on type, the market is segmented into acrylics, polyolefin, polyester, nylon, and others such as acetate. The polyester segment is projected to have considerable growth during the forecast period. The application ma
Virgin Polyester Staple Fiber Market Analysis by Recent Developments and Business Outlook 2020 to 2026 buffalonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from buffalonews.com Daily Mail and Mail on Sunday newspapers.