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Global Polyester Staple Fibers (PSF) Market to Reach $37.7 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Polyester Staple Fibers (PSF) estimated at US$26.5 Billion in the year 2020, is projected to reach a revised size of US$37.7 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027. Apparel, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$18.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Home Furnishing segment is readjusted to a revised 5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $7.2 Billion, While China is Forecast to Grow at 8% CAGR
The Polyester Staple Fibers (PSF) market in the U.S. is estimated at US$7.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.9 Billion by the year 2027 trailing a CAGR of 8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5 Billion by the year 2027.


Automotive Segment to Record 4.6% CAGR
In the global Automotive segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.4 Billion in the year 2020 will reach a projected size of US$3.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.6% CAGR through the analysis period.