According to the latest report by IMARC Group, titled "Polyethylene Terephthalate (PET) Fabric Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global polyethylene terephthalate (PET) fabric market reached a value of US$ 32.7 Billion in 2022. Polyethylene terephthalate (PET) fabric refers to semi-crystalline thermoplastic polyester fiber. It is manufactured through a chemical reaction between ethylene glycol (EG) and monomers purified terephthalic acid (PTA) or can be produced by recycling processed plastic bottles. As compared to conventional fabric, PET fabric is lightweight, cost-effective, recyclable, highly flexible, and has a better tensile strength-to-weight ratio and chemical, moisture, and shatter-resistance. Apart from this, PET fabric is easily transportable, durable, offers optimum stiffness, and prevents the growth of microorganisms. As a result, PET fabric finds extensive applications in interior fabrics, packaging materials, homeware, industrial clothing, rugs, carpets, and other furnishing materials in varying forms.
Global Polyethylene Terephthalate (PET) Fabric Market Trends:
The widespread adoption of PET fabric across the textile industry can be attributed to the increasing need for cost-effective, lightweight materials with anti-bacterial and anti-fungal properties to lower the utilization of natural fabrics, including cotton and wool. This is further supported by the growing awareness amongst consumers and manufacturers regarding PET fabric benefits. Furthermore, the rising environmental concerns have prompted governments of several countries to promote the uptake of sustainable and recyclable materials, such as PET fabric, to mitigate carbon emissions and pollution levels by reducing plastic waste disposable. Additionally, with the substantial growth in the food and beverage (F&B) sector, there has been escalating demand for ready-to-eat (RTE) and ready-to-drink (RTD) beverages. This, in turn, has propelled the extensive utilization of recycled food-grade PET fabric as a packaging solution to maintain product quality, which in turn, is contributing to the market growth. Other factors, such as rapid industrialization, extensive product utilization for manufacturing consumer goods, and strategic collaborations amongst key players to enhance product efficacy and identify its diverse usage, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 47.0 Billion by 2028, growing at a CAGR of 6.4% during 2023-2028.
- Based on the source, the market has been segregated into virgin, recycled, and blended PET.
- On the basis of the fabric type, the market has been segmented woven, non-woven and knitted.
- Based on the form, the market has been classified into staple, filament, fiberfill, and tow.
- On the basis of the application, the market has been categorized into apparel, household, industrial, carpet and rugs and others.
- On a regional basis, the market has been segmented into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Poland, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, Saudi Arabia, the United Arab Emirates, Israel and others).
- The competitive landscape of the industry has also been examined, with some of the key players being Alpek S.A.B., Toray Industries, Inc., Eastman Chemical Company, William Barnet & Son, LLC., Reliance Industries Limited, Indorama Ventures Public Company Limited, Märkische Faser GmbH, Sun Fiber LLC., Zhejiang Hengyi Group Co., Ltd., etc.
|Base Year of the Analysis
||Source, Fabric Type, Form, Application, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, Italy, Spain, Poland, United Kingdom, China, Japan, India, South Korea, Australia, Turkey, Saudi Arabia, United Arab Emirates, Israel, Brazil, Mexico
||Alpek S.A.B., Toray Industries, Inc., Eastman Chemical Company, William Barnet & Son, LLC., Reliance Industries Limited, Indorama Ventures Public Company Limited, Märkische Faser GmbH, Sun Fiber LLC. and Zhejiang Hengyi Group Co., Ltd.
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