Polyester Fiber Market To Achieve USD 213.5 Bn by 2034

Overview

New York, NY – July 18, 2025 – The Global Polyester Fiber Market is set for strong growth, with its size expected to jump from USD 114.8 billion in 2024 to USD 213.5 billion by 2034, expanding at a CAGR of 6.4% from 2025 to 2034.

India’s polyester fiber industry is a major contributor to the textile sector, producing approximately 1,700 million kg of man-made fibers (MMFs) and 3,400 million kg of man-made filaments annually, as reported by the Ministry of Textiles. Surat, Gujarat, serves as the epicenter, accounting for 60% of the nation’s polyester cloth production, underscoring its critical role in the supply chain.

Production Linked Incentive (PLI) Scheme With an outlay of ₹10,683 crore, the PLI scheme supports MMF apparel, fabrics, and technical textiles. As of June 2024, 64 proposals worth ₹198 billion have been approved to boost domestic manufacturing and competitiveness. PM Mega Integrated Textile Region and Apparel (PM MITRA) Scheme. This initiative, with a budget of ₹4,445 crore, aims to establish seven mega textile parks. These parks are designed to lower logistics costs, improve industry competitiveness, and generate significant employment opportunities.

In parallel, infrastructure development is being addressed through the PM Mega Integrated Textile Region and Apparel (PM MITRA) scheme, which envisions the establishment of seven mega textile parks across the country. With a financial allocation of ₹4,445 crore, this initiative is expected to reduce logistics costs, improve operational efficiency, boost export potential, and generate significant employment opportunities within the textile sector.

Key Takeaways

• Polyester Fiber Market size is expected to be worth around USD 213.5 billion by 2034, from USD 114.8 billion in 2024, growing at a CAGR of 6.4%.
• Polyester Staple Fiber (PSF) held a dominant market position, capturing more than a 59.3% share of the global polyester fiber market.
• Virgin held a dominant market position, capturing more than a 68.1% share of the global polyester fiber market.
• Polyethylene Terephthalate (PET) Polyester held a dominant market position, capturing more than a 92.9% share in the global polyester fiber market.
• Solid held a dominant market position, capturing more than a 69.4% share in the global polyester fiber market.
• Apparel held a dominant market position, capturing more than a 38.8% share in the global polyester fiber market.
• North America emerged as the leading region in the global polyester fiber industry, contributing nearly half of the total market share at 47.9%, equivalent to roughly USD 54.9 billion.

How Growth is Impacting the Economy

The Polyester Fiber industry’s growth significantly impacts India’s economy by creating jobs, boosting exports, and enhancing industrial output. The sector employs millions, particularly in textile hubs like Surat, supporting livelihoods and regional development. Investments are driving technological upgrades and capacity expansion, reducing import reliance.

The PM MITRA scheme’s seven mega textile parks, enhancing competitiveness. This growth fuels export revenues, strengthens supply chains, and supports ancillary industries like dyeing and weaving. By fostering innovation and infrastructure, the industry contributes to GDP growth, reinforcing India’s position in the global textile market and driving sustainable economic progress.

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Strategies for Businesses

Businesses in the polyester fiber market should invest in advanced manufacturing technologies to enhance efficiency and reduce costs. Adopting sustainable practices, such as recycling polyester and using eco-friendly raw materials, can meet rising consumer demand for green products. Leveraging government incentives like the PLI scheme can fund capacity expansion and innovation.

Strengthening supply chain resilience by diversifying sourcing and reducing import dependency is critical. Additionally, businesses should focus on R&D to develop high-value technical textiles and collaborate with global brands to capture export markets. Building robust distribution networks and embracing digital platforms can further enhance market reach and competitiveness.

Report Scope

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Key Market Segments

By Type

• In 2024, PSF led the global polyester fiber market with a 59.3% share, fueled by its versatility in textile production, non-woven fabrics, home furnishings, and stuffing for pillows and cushions. Its cost-effectiveness, recyclability, lightweight nature, moisture resistance, and compatibility with natural fibers bolster its demand. In 2025, PSF is projected to maintain its dominance, supported by growing adoption in Asia’s emerging markets and a push for eco-friendly, recycled fiber production.

By Source

• In 2024, virgin polyester accounted for 68.1% of the global polyester fiber market by source, owing to its consistent physical properties and widespread availability. It is a top choice for apparel, automotive textiles, industrial fabrics, and home furnishings requiring durability and strength. While recycled polyester gains traction, virgin polyester remains dominant for performance-driven applications. In 2025, it is expected to retain its lead, though sustainability initiatives and recycling policies may slightly narrow the gap.

By Grade

• In 2024, PET polyester captured a 92.9% share of the global polyester fiber market by grade, valued for its high tensile strength, dimensional stability, and resistance to chemicals and moisture. Its versatility suits textile applications, packaging, automotive fabrics, and geotextiles, while its recyclability aligns with sustainability goals. In 2025, PET is expected to maintain its overwhelming dominance, driven by demand for durable, lightweight materials and expanding PET recycling infrastructure.

By Form

• In 2024, solid polyester fibers held a 69.4% share of the global polyester fiber market by form, widely used in clothing, upholstery, carpets, and technical textiles. Their strength, firmness, resistance to deformation, superior dye absorption, and fabric stability drive their adoption. In 2025, the solid segment is expected to remain dominant, fueled by demand from the fashion and home furnishing sectors in Asia-Pacific and North America.

By Application

• In 2024, the apparel segment accounted for 38.8% of the global polyester fiber market by application, favored for its wrinkle resistance, ease of care, and affordability. Polyester’s moisture-wicking and quick-drying properties make it ideal for everyday wear, sportswear, outerwear, and fashion garments. In 2025, apparel is expected to maintain its lead, supported by urban growth, rising incomes, and the expansion of fast fashion in Asia, Latin America, and Africa.

Regional Analysis

In 2024, North America led the global polyester fiber market with a 47.9% share, equivalent to USD 54.9 billion, driven by its robust textile infrastructure and high consumption in apparel, home furnishings, and technical textiles. Innovations in recycled and specialty fibers, such as moisture-wicking and flame-resistant grades, along with government and private investments in recycling infrastructure, strengthen the region’s position. In 2025, North America is expected to maintain its dominance, supported by sustainability initiatives and growing rPET production.

Recent Developments

1. Reliance Industries Limited

• Reliance Industries has expanded its polyester fiber production with a focus on sustainability, introducing Recycrom-based recycled polyester fibers for eco-friendly textiles. The company is also investing in bio-based MEG (monoethylene glycol) to reduce carbon emissions in polyester manufacturing. Their new facility in Silvassa, India, enhances production capacity to meet growing global demand.

2. Sarla Performance Fibers Limited

• Sarla Performance Fibers has launched high-tenacity polyester fibers for industrial applications like tire cords and conveyor belts. The company is also working on flame-retardant polyester fibers for automotive and safety gear. They recently partnered with European textile manufacturers to expand exports.

3. Märkische Faser GmbH

• Märkische Faser specializes in recycled polyester (rPET) fibers, with new investments in chemical recycling to improve fiber quality. They recently supplied sustainable polyester fibers to European sportswear brands, supporting the circular economy in textiles.

4. Rashni Poly Fiber Industries Ltd.

• Rashni Poly Fiber has introduced antibacterial polyester fibers for medical and hygiene products. They are also scaling up recycled polyester production to meet demand from sustainable fashion brands in South Asia and Africa.

5. Toray Industries Inc.

• Toray has developed ultra-lightweight polyester fibers for high-performance sportswear and aerospace applications. Their new bio-based polyester technology reduces dependency on fossil fuels. They recently partnered with Adidas for sustainable athletic wear.

Conclusion

India’s Polyester Fiber Market is a dynamic force, driven by strong production capacity, government support, and rising demand for MMFs. With Surat as a key hub and initiatives like PLI and PM MITRA, the sector is set to bolster economic growth through job creation and exports. Businesses must embrace innovation, sustainability, and global partnerships to stay competitive. Analysts foresee a bright future, with India poised to lead the global market if it overcomes import challenges. The industry’s growth will continue to drive economic progress and solidify India’s textile dominance.

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