Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market By Denier (1000D 192F -1210 192F, 1300D 432F -1670 192F, 2000D 480F - 2200 640F, Others {1000D 335F, 1000D 320F, 1017D 212F, etc.}), By End User (Tire Cords, Conveyors, V-Belts, Hoses, Others {Fishing Nets, Airbags, Power Transmission Belts, etc.}), By Type (Regular Adhesive, High Tenacity, High Count Filaments, Super Low Shrinkage, Oth
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAsia Pacific High Modulus Low Shrinkage Polyester Yarn Market By Denier (1000D 192F -1210 192F, 1300D 432F -1670 192F, 2000D 480F - 2200 640F, Others {1000D 335F, 1000D 320F, 1017D 212F, etc.}), By End User (Tire Cords, Conveyors, V-Belts, Hoses, Others {Fishing Nets, Airbags, Power Transmission Belts, etc.}), By Type (Regular Adhesive, High Tenacity, High Count Filaments, Super Low Shrinkage, Oth
Asia Pacific High modulus Low Shrinkage (HMLS) Polyester Yarn market stood at USD671.16 million in 2021 and is expected to grow at a CAGR of 8.07% during the forecast period. Because of elasticity and stability of High Modulus Low Shrinkage Polyester Yarn, it is utilized in the mechanical rubber goods industry to manufacture hoses, tires, cord textiles, conveyors, and v-belts. Increased demand can be ascribed to the growing population in Asia Pacific, which is going to push the demand for vehicles and thus the demand for radial tires. Polyester Tire Cord Fabric (PTCF), PTCF is produced by High Modulus Low Shrinkage Polyester Yarn. The production count of PTCF based tire is expected to increase in the coming years leading to an increase in the production of tires made from Polyester Tire Cord Fabric over Nylon Tire Cord Fiber (NTCF).
Global demand for high modulus low shrinkage polyester yarn stood at 836.06 thousand tonnes in 2021 and that of Asia Pacific stood at 354.49 thousand tonnes in the same year.
Growing Popularity for Technical Textile
The industry is witnessing emergence of innovative textiles, fabrics that can be used for a variety of purposes, and yarns that are multi-functional and beneficial in a wide range of industries. Countries are organizing their sectors to accommodate technology textiles as a result of technological breakthroughs. This change may also be seen in the APAC textile industry, which is shifting away from traditional textiles toward technology textiles.
Growing Localization of Markets
China is a market leader in manufacturing and exporting high modulus low shrinkage polyester yarn because it is known for being less reliant on imports and for making products in-house. India is also trying to follow China's lead by investing USD1400.78 million in January 2022 as part of the Production Linked Incentive (PLI) scheme, which aims to boost domestic investment and reduce reliance on imported resources and goods. This will help the Indian market grow in terms of high modulus low shrinkage polyester yarn through 2030.
Growing Demand from the Automotive Industry
Over the next few years, the rising use of high modulus low shrinkage polyester yarn in the automotive industry is predicted to push market growth. In the automotive business, high modulus low shrinkage polyester yarn is used to make automobile tires and mechanical rubber goods, among others. Because all radial tires are created with HMLS polyester yarn, and radial tires are becoming more popular in the automobile sector. However, due to increased vehicle sales, applications across the automotive industry, such as in automotive fabrics, are expected to develop in the coming years, resulting in significantly more market opportunities.
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Market Segmentation
The Asia Pacific High Modulus Low Shrinkage Polyester Yarn market is segmented on the basis of denier, end user, type, country and by company. Based on denier, the market is divided into 1000D 192F -1210 192F, 1300D 432F -1670 192F, 2000D 480F - 2200 640F, Others
Company Profiles
Hengli Group, Hyosung Advance Materials Corporation, United Raw Materials Pte Ltd., Zhejiang Guxiandao Polyester Dope Dyed Yarn Company Limited, Zhejiang Unifull Industrial Fibre Co. Limited, Jiangsu Taiji Industry New Materials Co., LTD,
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Attribute |
Details |
|
Market
size value in 2021 |
USD 671.6 million |
|
Revenue
Forecast in 2027 |
USD 1143.08 Million |
|
Growth
Rate |
8.07% |
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Base
Year |
2021 |
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Historical
Years |
2017 –
2020 |
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Estimated
Year |
2022 |
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Forecast
Period |
2023
– 2027 |
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Quantitative
Units |
Revenue in
USD Million, and CAGR for 2017-2021and 2022-2027 |
|
Report
Coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
|
Segments
Covered |
·
Denier ·
Type ·
End User ·
Country ·
Company |
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Key
Companies Profiled |
Hengli Group, Hyosung Advance Materials
Corporation, United Raw Materials Pte Ltd., Zhejiang Guxiandao Polyester Dope
Dyed Yarn Company Limited, Zhejiang Unifull Industrial Fibre Co. Limited, Jiangsu
Taiji Industry New Materials Co., LTD, Shinkong Synthetic Fibers Corporation,
Zhejiang Hailide New Material Co. Limited, PT INDO KORDSA Tbk, and Oriental
Industries (Suzhou) Limited and Indorama Ventures Limited |
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Customization
Scope |
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customization with purchase. Addition or alteration to country, regional
& segment scope. |
|
Pricing
and Purchase Options |
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customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
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version of the report in PPT/pdf format on special request) |
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