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Increasing demand from the textile industry, especially in the emerging economies is one of the significant factors influencing market growth.
NEW YORK CITY, NY, UNITED STATES, March 2, 2022 /EINPresswire.com/ -- The research report on the Global Polyester Filament Yarn Market added by Reports and Data to its extensive database offers a comprehensive analysis of the market dynamics including current and future trends, current factors driving and restraining market growth, and expert validated market data. The global Polyester Filament Yarn Market is expected to reach USD 91.76 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the increasing applications of polyester filament yarns amongst the end-users.
The increasing use of polyester filament yarn in the textile industry is likely to drive the growth of the market in the upcoming years. The polyester filament yarns possess good elasticity, shape retention, wrinkle resistance, exceptional wash & wear performance, washability, and longevity, among others, and as a result, find extensive application in various types of apparel fabrics. It is used to make fashionable dresses, weather-resistant clothing, and is a preferred material for children’s wear.
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Growing demand from the construction industry is likely to boost the market demand. Polyester Fiber Reinforced Concrete (PFRC) is used in cement concrete pavement material. Polyester filament yarns are resistant to alkali attacks, and PFRC finds usage as overlays and in pavement quality concrete. The application of fibers may result in a cement saving of nearly 10.0%, and with fly ash, the cement saving may be increased to about 35.0%. Polyester filament yarns, owing to their non-biodegradable property, are used in cement concrete road works, thereby assisting in the conservation of the environment.
The global materials & chemicals industry involves the production, distribution, sales, and consumption of industrial chemicals, specialty chemicals, commodity (bulk) chemicals, and raw materials such as natural gas, oil, paper & pulp, and metals & minerals. Growth of the global materials & chemicals industry is mainly attributed to fast-paced industrialization and extensive usage of bulk petrochemicals, electronic chemicals, polymers, inorganic chemicals, fertilizers, adhesives, sealants, coatings, and various other products in different industries including oil & gas, pharmaceutical, food & beverage, cosmetics & personal care, textile, manufacturing, petrochemical, and water, and wastewater treatment industries. Technological innovations in the electronics and semiconductor industries, rising demand for nanomaterials, and increasing preferences for environmentally sustainable chemicals and materials are other major factors contributing to the global materials & chemicals industry growth.
Key participants include: Tongkun Group Co. Ltd., Shenghong Corp., Xin Feng Ming Group, Reliance Industries Ltd., Reliance Industries Ltd., William Barnet & Son LLC, Hengli Group, Indorama Ventures Public Company Limited, Polyfibre Industries, Toray Industries Inc., and GreenFiber International SA, among others.
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Further key findings from the report suggest
Partially Oriented Yarn (POY) is a kind of polyester filament yarn, which is the primary polyester filament yarn produced by polymerizing and spinning processes. It is mostly used as a key raw material for drawn textured yarn (DTY).
By material, polyethylene terephthalate (PET) held a larger market share in 2020 and is likely to grow at a rate of 7.8% in the forecast period. The market dominance of this grade is owing to the offering of high strength and lightweight properties.
By application, tire cord contributed to the largest market share in 2020 and is expected to grow at a rate of 7.3% in the forecast period. Tire cord fabrics find application as strengthening materials for tires and are developed to maintain the structural shape of the tires and support automotive weight, thereby having a considerable impact on tire performance.
The North American market, led by the U.S., held the second-largest market share in 2020 and is projected to grow at a rate of 6.8% in the forecast period.
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For the purpose of this report, Reports and Data have segmented the global polyester filament yarn market on the basis of product type, raw material, application, and region:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028) Partially Oriented Yarn (POY) Fully Drawn Yarn (FDY) Drawn Textured Yarn (DTY) Others
Raw Material Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028) Polyethylene Terephthalate Poly-1, 4-Cyclohexylene Dimethylene (PCDT) Others
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028) Tire Cords Mechanical Rubber Goods Non-Woven Fabrics Apparels Others
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Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028) North America Europe Asia Pacific Latin America MEA
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