The global market for Polyester Staple Fibers (PSF) is projected to grow at 5.2 per cent CAGR over 2020-2027 to reach a revised size of $37.7 billion by 2027. This was stated in the report tilted “Polyester Staple Fibers (PSF) – Global Market Trajectory & Analytics” by ResearchAndMarkets.com
As per Textile Focus, the apparel segment is projected to record a 5.9 per cent CAGR and reach $18.9 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the home furnishing segment is readjusted to a revised 5 per cent CAGR for the next 7-year period.
World`s second largest economy, China is forecast to reach a projected market size of $7.9 billion by the year 2027 trailing a CAGR of 8 per cent over the analysis period 2020 to 2027.Other noteworthy geographic markets including Japan and Canada are forecast to each grow at 2.8 per cent and 4.7 per cent respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.2 per cent CAGR.