Staple Fiber Market Shows Resilience Amid Evolving Consumer Preferences and Growing Demand for Affordable Fibers

VANCOUVER, BC, CANADA, June 3, 2024 /EINPresswire.com/ -- The Staple Fiber Market size was USD 49.58 billion in 2023 and is expected to register a revenue CAGR of 7.6% during the forecast period. The global staple fiber market is witnessing significant growth driven by various factors including evolving consumer preferences, increasing demand for affordable fibers, and a surge in demand from the automobile sector. Staple fibers, widely utilized in industries ranging from textiles to construction, are experiencing a surge in demand owing to their versatility and applications in various sectors.

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Key Drivers of Staple Fiber Market Growth

The staple fiber market is experiencing growth propelled by several key factors:

Real Estate Expansion Driving Demand for Luxury Furnishings: The booming real estate industry is fueling the demand for luxury furnishings, consequently driving the staple fiber market. Polyester staple fiber (PSF) is extensively utilized in construction applications, enhancing the quality of walls, tiles, and other structures.

Rising Awareness of Sustainable Agriculture: Increased awareness of sustainable agriculture practices is contributing to the demand for staple fibers. The need for environmentally friendly products is driving the market as consumers seek sustainable alternatives in various industries.

Market Restraints

Despite the growth prospects, the staple fiber market faces certain challenges:

Rise in Oil Costs Impacting Raw Material Prices: Increasing oil costs directly impact the prices of textile raw materials, posing challenges for the staple fiber market. Factors such as fluctuations in crude oil prices and supply chain disruptions contribute to the cost pressure on raw materials.

Segment Insights

Product Segmentation: The market is segmented into woven and non-woven staple fibers. Non-woven fibers dominate the market due to their flexibility, waterproof properties, and applications in various industries including healthcare and hygiene.

Type Segmentation: Polyester staple fiber (PSF) leads the market owing to its widespread use in textiles and home furnishings. The affordability and versatility of PSF make it a preferred choice in various applications.

Application Segmentation: Textile and apparel industries account for the largest share of staple fiber consumption. Staple fibers find extensive usage in producing clothing, home textiles, and industrial applications.

Outlook

The staple fiber market is poised for continued growth driven by evolving consumer preferences and increasing demand for sustainable products. Despite challenges such as rising oil costs, the market is expected to witness steady growth, especially in segments like non-woven fibers and polyester staple fiber.

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Staple Fiber Top Companies and Competitive Landscape

The Staple Fiber Market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products.

Baoding swan Fiber Co., Ltd.

Aditya Birla Management Corporation Pvt. Ltd.

Barnet

Alpek S.A.B. de C.V.

Reliance Industries Limited.

Fulida Group Holding Co., Ltd

TongKun Group Co., Ltd.

TORAY INDUSTRIES, INC.

Celanese Corporation

TEIJIN FRONTIER CO., LTD.

VNPOLYFIBER

Eastman Chemical Company

Indorama Ventures Public Company Limited.

Bombay Dyeing.

Staple Fiber Latest Industry Updates

In August 2022, The US-based private investment firm SK Capital Partners has a portfolio company called Archroma, which leads the world in sustainable specialty chemicals and solutions. Archroma and Huntsman Corporation, an American multinational manufacturer and marketer of chemical products, have announced that they have finalized an acquisition agreement for the Textile Effects business.

In October 2022, Reliance Polyester Limited receives approval from the Competition Commission of India (CCI) to acquire Shubhalakshmi Polyesters Limited and Shubhlaxmi Polytex Limited. Polyethylene terephthalate chips, polyester staple fiber (PSF), and various polyester yarns are among the petrochemical goods that this purchase will mainly provide and make.

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Staple Fiber Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the Staple Fiber Market on the basis of product, type, application, end-use and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Woven

Non-Woven

Type Outlook (Revenue, USD Billion; 2019-2032)

Polyester

Cellulose

Cotton

Others

Application Outlook (Revenue, USD Billion; 2019-2032)

Textile and Apparel

Knitted Wear

Geotextile

Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Automotive

Construction

Home Furnishing

Filtration

Personal Care and Hygiene

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

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Emergen Research
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