The North America Polyester Fiber Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 12,281.6 Kilo tonnes, showcasing a growth of 6.5% (2019-2022).
Polyester fiber is a synthetic fiber comprised of oxygen, coal, water, and petroleum-derived long-chain polymers. A chemical reaction involving dihydric alcohol and dicarboxylic acid generates these fibers. It is the preeminent synthetic fiber in terms of production volume due to its exceptional characteristics and straightforward processing. The company manufactures an extensive range of goods, including apparel, home furnishings, industrial fabrics, tire cord fabrics, filters, and non-woven fabrics. This fiber has many benefits compared to conventional materials like cotton. It is essential for producing particular varieties of automobile tire reinforcements. Furthermore, due to its robustness and low weight, polyester fiber is used in fabricating fabrics to construct safety and conveyor belts.
In addition, it is utilized in the production of cushioning materials for cushions and upholstery padding because of its lightweight and insulating characteristics. Its fabrics possess a favorable resistance to stains, rendering them appropriate for application as tablecloths. Furthermore, the ability of polyester fiber to incorporate oil renders it an optimal material for applying finishes that are resistant to soil, water, and fire.
The increasing demand for home furnishing products in Canada, driven by home renovation activities, changing interior design trends, and lifestyle preferences, contributes to the higher consumption of polyester fibers. Home furnishing products, such as upholstery and carpets, require durable and long-lasting materials. Polyester fibers, known for their resilience, produce textiles that withstand wear and maintain their appearance over time. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Polyester Fiber Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $24,340.4 million by 2030. The Canada market is experiencing a CAGR of 9.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.7% during (2023 - 2030).
Free Valuable Insights: The Polyester Fiber Market is Predict to reach $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 U.S., Mexico, Canada, and Rest of North America.
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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