The Europe Polyester Fiber Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 11,062.8 kilo tonnes, showcasing a growth of 6.2% (2019-2022).
Numerous producers prioritize the production of recycled polyester fiber as a means of environmental protection. As an illustration, Freudenberg Performance Materials employs an ecologically sustainable manufacturing process to fabricate automobile carpets from recycled PET. Furthermore, implementing recycled fiber has led to a decrease in the application of chemical binders and the production of lighter automobile carpets compared to conventional carpets; these developments promote environmental protection.
Polyester fibers have become a staple in the apparel industry, finding applications in manufacturing clothing, sportswear, and outerwear. The inherent properties of polyester, including durability, wrinkle resistance, and ease of care, make it an ideal choice for fashion designers and consumers. The market's growth is further fueled by the increasing demand for athleisure wear and the trend towards sustainable and eco-friendly fashion, with recycled polyester gaining prominence. Polyester fibers, including bed linens, curtains, carpets, and upholstery, are extensively used in home textiles. The material's resistance to stains and fading and its ability to maintain shape contribute to its popularity in home furnishings. Moreover, technological advances have led to the growth of high-performance polyester fibers that meet the stringent requirements of the modern consumer.
The International Trade Administration reports that Internet purchasing is more prevalent in the United Kingdom than in any other nation. Customer e-commerce accounted for 30% of the UK's total retail sector, up from 20% in 2020, and generated over $120 billion annually. In 2021, 82% of the UK purchased at least one product online. Polyester fibers are employed in shipping envelopes and mailers used by e-commerce companies. The growth of online retail leads to an increased requirement for lightweight and durable packaging solutions. Due to the aforementioned factors the market growth will drive in this region.
The Germany market dominated the Europe Polyester Fiber Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8,645.9 million by 2030. The UK market is registering a CAGR of 5.9% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 7.6% during (2023 - 2030).
Free Valuable Insights: The Global Polyester Fiber Market will Hit $153.5 Billion by 2030, at a CAGR of 7.5%
Based on Form, the market is segmented into Solid, and Hollow. Based on Grade, the market is segmented into PET Polyester, and PCDT Polyester. Based on Product Type, the market is segmented into Polyester Staple Fiber (PSF), and Polyester Filament Yarn (PFY). Based on Application, the market is segmented into Textile & Apparel, Automotive & Transportation, Home Furnishing, Industrial, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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