The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Polyester Filament Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Polyester Filament Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Polyester Filament Market are thoroughly studied in the presented market study.
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The polyester filament market is likely to witness a revenue generation surpassing US$ 87,000 million by 2018 end. A significant growth in the use of polyester in textile industry including apparel and home furnishing and growing demand for polyester filament in manufacturing of automotive textile are some of the prominent factors driving the polyester filament market revenues.
Fact.MR study opines that the fully drawn polyester filament sales are likely to outsell other types of polyester filaments. Continued preference for fully drawn yarn used in production of textiles and fabrics for high-end sportswear, undergarments, and home textiles are driving the significant growth of fully drawn yarn in polyester filament market.
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The demand for both drawn texture yarn and fully drawn yarn is growing in the textile industry. However, with the development of post-treatment technology and lower cost of fully drawn yarn, it is likely to outsell drawn texture yarn over the next few years.
Polyester fully drawn yarn sales are also expected to remain high in polyester embroidery thread manufacturing widely used in sewing. India, China, Thailand, and Malaysia are the leading manufacturers and exporters of fully drawn yarn across various countries.
Textile Industry Accounts for Over 60% of Revenue Share in Polyester Filament Market
The demand for polyester filament in textile industry is expected to witness healthy growth. The textile industry is creating strong demand for polyester filaments which have the ability to substitute cotton yarns to some extent. With cotton yarn prices at relatively higher levels, the demand and sales of polyester filament yarn is constantly rising.
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The report opines that broader gains in a range of end-use industries will increase the proportion of polyester filament yarn used in the products with an aim to control cost.
In recent years, there has been huge demand for polyester filament in medical textile covering a wide range of products including surgical gowns, diapers and products for internal uses like surgical procedures. The demand is likely to continue in the years to come.
With textile, apparel, retail, and fashion industries moving towards sustainability, the area of interest in recycled polyester filament yarn in production of new products is rising. In addition to technological developments in apparel and textile manufacturing, polyester filament manufacturers are constantly focusing on producing recycled polyester filaments to meet the growing demand.
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APEJ to Remain at the Pole Position in Polyester Filament Market
According to the Fact.MR study, APEJ will be the most lucrative market for polyester filaments. The demand is expected to surpass US$ 14,000,000 tons by 2018-end. China, India, Indonesia, and Thailand are the major countries in APEJ dealing in polyester filament market. Polyester and nylon fiber manufacturers in Asia Pacific have also increased the prices with the rise in crude oil prices and growing demand for synthetic fibers.
Home furnishing is emerging as the second-largest demand generator for polyester filament followed by apparels. Moreover, India is likely to hold a strong position, capturing a major share in the global polyester filament market, owing to the low cost of labor and initiatives by the government ensuring stable power supply, and availability of low cost operations.
China continues to be a major supplier of polyester fiber including recycled polyester fiber. However, the ban on import of solid waste used to produce recycled polyester is likely to impact the polyester material supply chain. Higher prices of polyester staple fiber can result in increasing demand for cotton.
The Fact.MR report tracks the polyester filament market for the period 2018-2027. According to the report, the polyester filament market is projected to reach 4.9% CAGR in terms of volume during the forecast period.
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