Polyester Filament Market to Reach USD 174.7 Billion by 2032
NEW YORK, January 27, 2022 /PRNewswire/ — The global polyester filament market is expected to grow at a CAGR of 5.1% from 2022 to 2032, from $106 billion in 2022 at $174.7 billion in 2032.
Polyester Filament Application is growing rapidly around the world and by 2022 it is estimated to account for around 11.7% of the global textile industry. Advanced manufacturing methods are used by manufacturers to improve the efficiency of polyester filament and increase production.
Manufacturers are creating advanced green technologies such as recycling polyester due to meeting environmental standards, which can ultimately make it easier to comply with regulations. The companies are working on developing more advanced polyester filament manufacturing technologies by targeting different applications in various end-use sectors.
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The advancement of polyester filament formulations has resulted in higher consumption and, therefore, better performance. The exceptional qualities of polyester, including stiffness, 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 to create protective clothing fabric due to its unique properties.
The adoption of dyed polyester by the automotive and textile industries has led to a surge in the demand for polyester filaments, which has fueled the overall market growth.
After China and India, United States is the third largest textile producer in the world. In terms of polyester fibers, the country produced about 1.3 million metric tons in 2021, an increase of almost 10% from the previous year’s production.
The increase in production is due to the recovery in demand, which requires adequate supply to make up the shortfall. Although the country also exports polyester fibers, the overall growth of the polyester filament market in United States is mainly due to the increase in domestic consumption.
Market size value in 2021
Market value estimate in 2022
Forecast value of the market in 2032
World growth rate (2022-2032)
Key points to remember:
- The polyester filament market in South Asia and Oceania accounts for one-fifth of the global market share.
- By yarn type, twisted yarn is expected to dominate and hold more than 55% market share in 2021.
- The twisted yarn segment is expected to grow at a CAGR of 4.3% by 2032.
- By dyeing process, dyed process had acquired more than 90% market share by 2021.
- Varied applications of polyester filament across various end-use industries including textile, automotive, and healthcare to propel the growth of polyester filament market.
- The rapid increase in dyed polyester used by the automotive and textile industry has resulted in a significant growth in the demand for polyester filaments.
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Tier 3 players represent more than 40% of the polyester filament market. Tier 3 players hold the majority of market share. Meanwhile, Tier 1 and Tier 2 players are forming strategic alliances and pursuing mergers and acquisitions to strengthen their global positions.
the Asia Pacific region, which includes Thailand, China, Japanand Indiais home to the majority of Tier 3 companies.
Polyester filament is increasingly exported from Asia Pacific at Europewhere synthetic fiber is most often used in clothing.
Companies in Asia Pacific which focus on developing innovative garments and home textile products with unique characteristics.
The key companies profiled by Fact.MR are –
- Filatex India Limited
- Meher International
- Thai Polyester Company
- Son Sivasakhi
- Beximco Synthetics Limited
- Sarla Performance fibers
- Tepar Textiles
- Indorama Ventures
- Trust Industries
More Valuable Insights into Polyester Filament Market
Fact.MR provides an unbiased analysis of the Polyester Filament market, presenting forecast statistics for the period (2022-2032). The study discloses compelling insights into the Global Polyester Filament Market with detailed segmentation on the basis of:
- By wire type:
- single wire
- ply yarn
- Rope yarn
- By type:
- Drawn Textured Yarn (DTY)
- Fully Drawn Yarn (FDY)
- Partially Oriented Yarn (POY)
- By dyeing process:
- By end-use industry:
- Textile industry
- Automobile industry
- Health care
Key questions covered in Polyester Filament Market report
- The report provides an overview of the polyester filament market demand outlook for 2022-2032.
- The market study also highlights the forecasted sales growth for the polyester filament market between 2022 and 2032.
- The Polyester Filament Market study identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current and forecast market size and technological advancements within Of the industry.
- Polyester Filament Market share analysis of major companies in the industry and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
Explore Fact.MR’s Chemistry and Materials Coverage –
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PEEK Filament Market Scope – The lightweight qualities of PEEK filament, as well as its ability to increase the functioning of electronics in a vehicle, are expected to drive demand. In the global PEEK filament market, automotive and medical industries are expected to grow at a rapid pace.
Bio-Based Polyester Market Forecast – Factors such as rising cotton costs, rising global GDP, rapid urbanization, rising population, increasing automotive manufacturing and growing demand for PET-based packaging will drive expansion of the bio-based polyester market.
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