East Asia to Capture Over 21% of the Global Polyester Filament Market Share
Fact.MR's latest study on the global polyester filament market provides a detailed analysis of various drivers, trends, and opportunities from 2022 to 2032. In addition, it presents elaborate information about the leading segments in terms of type, yarn type, dyeing process and region.
NEW YORK, Jan. 27, 2022 /PRNewswire/ -- The global polyester filament market is expected to increase at a CAGR of 5.1% from 2022 to 2032, from USD 106 billion in 2022 to USD 174.7 billion in 2032.
Polyester filament demand is growing rapidly over the world, and by 2022, it is estimated to account for roughly 11.7% of the worldwide textile industry. Advanced manufacturing methods are being used by manufacturers to improve the efficiency of polyester filament and increase production.
Manufacturers are creating advanced green technologies like polyester recycling as a result of following environmental standards, which can ultimately make compliance with regulations easier. Companies are working on developing more advanced polyester filament manufacturing technologies by targeting different applications across a variety of end-use sectors.
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The advancement of polyester filament formulations has resulted in higher consumption and, as a result, better performance. Polyester's exceptional qualities, including as rigidity, flexibility, and low cost, have fueled the expansion of the polyester filament market in the past.
Polyester filament is used in a variety of industries, including textiles, automotive, and healthcare, among others. Manufacturers prefer polyester filament for creating protective clothing fabric because of its exceptional properties.
The adoption of dyed polyester by the automotive and textile industries has resulted in a large increase in demand for polyester filament, which has fueled overall market growth.
After China and India, the United States is the third largest textile producer in the world. In terms of polyester fiber, the country produced about 1.3 million metric tons in 2021, an increase of almost 10% over the previous year's output.
The increase in output is due to the recovery of demand, which necessitates appropriate supply to fill the gap. Although the country also exports polyester fiber, the total polyester filament market growth in the United States is primarily due to rising domestic consumption.
Report Attributes | Details |
Market size value in 2021 | USD 104.1 Billion |
Market Value Estimate in 2022 | USD 106 Billion |
Market forecast value in 2032 | USD 174.7 Billion |
Global Growth Rate (2022-2032) | CAGR 5.1% |
Key Takeaways:
- South Asian & Oceania polyester filament market to account for one-fifth of the global market share.
- By yarn type, cord yarn is expected to be dominant and held over 55% market share in 2021.
- Ply yarn segment is expected to grow at a 4.3% CAGR by 2032.
- By dyeing process, dyed process had acquired over 90% market share in 2021.
Growth Drivers:
- Varied applications of polyester filament in various end-use industries including textile, automotive, healthcare to propel the polyester filament market growth.
- Rapid rise in the dyed polyester used by the automotive and textile industry has translated into a significant growth in demand for polyester filament.
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Competitive Landscape
Tier 3 players account for more than 40% of the polyester filament market. Tier 3 players own the majority of the market share. Meanwhile, tier 1 and tier 2 players are forming strategic alliances and pursuing mergers and acquisitions to strengthen their worldwide positions.
The Asia Pacific region, which includes Thailand, China, Japan, and India, is home to the majority of tier 3 enterprises.
Polyester filament is increasingly being exported from Asia Pacific to Europe, where the synthetic fiber is most commonly utilized in clothes.
Companies in Asia Pacific that are focusing on developing innovative clothes and home textile goods with unique features.
Key Companies Profiled by Fact.MR are -
- Filatex India Limited
- Meher International
- Thai Polyester Company
- Sivasakhi threads
- Beximco Synthetics Limited
- Sarla Performance Fibers
- Tepar Textiles
- Indorama Ventures
- Reliance Industries
More Valuable Insights on Polyester Filament Market
Fact.MR provides an unbiased analysis of the polyester filament market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global polyester filament market with a detailed segmentation on the basis of:
- By Yarn Type :
- Single yarn
- Ply Yarn
- Cord yarn
- By Type :
- Drawn Texture Yarn (DTY)
- Fully Drawn Yarn (FDY)
- Partially Oriented Yarn (POY)
- By Dyeing Process :
- Dyed
- Non-Dyed
- By End-Use Industry :
- Textile Industry
- Automotive industry
- Healthcare
Key Questions Covered in Polyester Filament Market Report
- The report offers insight into the polyester filament market demand outlook for 2022-2032.
- The market study also highlights projected sales growth for polyester filament market between 2022 and 2032.
- Polyester filament market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Polyester filament market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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