
According to the Allied Market Research "staple fibers market" was valued at $161,591 million in 2016, and is projected to reach $206,919 million by 2023, growing at a CAGR of 3.6% from 2017 to 2023. The cotton segment accounted for more than half of the global market in 2016.Staple fiber can be defined as a fiber of discrete length of any composition, which can be drawn into yarn and can be both natural and synthetic. Staple fibers are synthetic fibers majorly comprising a polyester. They are made from PET or PTA sheets or from recycled PET bottle flakes. Staple fibers made from PTA or PET are called as virgin staple fibers, whereas those made from recycled PET bottle flakes are known as recycled staple fibers. Staple fibers are widely used in textile, automotive, and furniture industries.