Polyester Filament Market Scope and Upcoming Opportunity Analysis till the end of 2027
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. 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.
Competitive Assessment: The keyword market report includes global as well as emerging players:
- Filatex India Limited
- Meher International
- Thai Polyester Company
- Beximco Synthetics Limited
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.
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.
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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.
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.
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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.