Polyarylate fiber is a group of high-performance engineering plastics recognized for their sturdiness, robustness, chemical resistance, and high melting points. It is used in automotive parts, ovenware, electronic devices, and other applications.
Polyarylate fiber is a kind of aromatic polyester. As in other polyesters, the numerous restating units that make up the lengthier, chain-like polyarylate molecules are connected by ester groups.
Business Research Insights states that the polyarylate fiber market size was USD 7,812.5 million in 2019 and is projected to reach USD 13,490 million by 2026 at a CAGR of 8.0% during the forecast period.
Depletion of Manufacturing Processes amid COVID-19 Negatively Impacted the Market Growth and Sales
The textile industry has been influenced in various countries, owing to the global lockdown. Lack of smooth supply chain, deteriorated speed of logistics processes, and scarcity in workforce accessibility have further triggered operations in the market. Moreover, nations with low to medium-sized lean production factories were compelled to shut their units. This disrupted the demand for polyarylate fiber.
Below mentioned are the profiles of the dominating companies operating in the market:
1. DowDuPont
DowDuPont is headquartered in Michigan, U.S. The company’s portfolio ranges from protective apparatus to providing clean water, empowering smarter & faster electronics, and utilization of science and innovation to make everyday things possible.
2. Evonik Industries
Evonik Industries AG is a stock-registered German specialty chemicals corporation, located in Essen, North Rhine-Westphalia, Germany. It is the second-biggest chemical company in Germany, and among the largest forte chemicals corporations in the globe. Evonik is among the world pioneers in specialty chemicals. It is active in over 100 nations across the globe.
3. Formosa Plastics Corporation
Formosa Plastics Corporation is a plastic company located in Taiwan that basically manufactures polyvinyl chloride resins and similar intermediary plastic merchandises. The company was founded in 1954 by Wang Yung-ching and Wang Yung-tsai with USD 7,98,000 credit from the U.S. aid organizations. Additionally, in 2019, Chemical & Engineering News ranked Formosa Plastics as the world's sixth biggest chemical company in terms of sales in 2018 with USD 36.9 billion.
4. LG Chem
LG Chem Ltd., frequently stated as LG Chemical, is the biggest Korean chemical company and is located in Seoul, South Korea. It was the 10th major chemical company across the globe in terms of sales in 2017. It was first recognized as the Lucky Chemical Industrial Corporation, which produced cosmetics.
5. Nippon Shokubai
Nippon Shokubai is situated in Japan. Since 1941, it has grown its business with exclusive catalyst technology.
6. Sanyo Chemical Industries
Sanyo Chemical Industries is headquartered in Kyoto, Japan and was established in 1949. It was established under the name of Sanyo Oil & Fat Industrial Co., Ltd.
7. SONGWON Industrial
SONGWON was founded in 1965. It is fixated on introducing value to the industry through the amalgamation of the products offered and the services that are provided by the company to support its customer base. As one searches through their interactive Product Finder, it can be learnt that a wealth of information about individual products grounded on the selected search principles is present.
8. Sumitomo Seika Chemicals Company Limited
Sumitomo Seika Chemicals Co., Ltd. involves in the production and transaction of chemical products. It functions through the segments such as super absorbent polymers, chemicals, and gases and engineering. The chemicals segment offers industrial elements, pharmaceutical products, polymers as well as operational products.
9. Yixing Danson Technology
Yixing Danson Technology is located in Jiangsu, China and was founded in 2015. It specializes in the development of superabsorbent polymers.
Future of Polyarylate Fiber in the Textile Industry
The augmented demand and utilization of polyarylate fiber in the active wear segment is fueling the sales of the fabric. The 1980s was a period of extremely fruitful innovation in sportswear apparels. A few rationally easy microfibers and coated fabrics were created; variations of which have fulfilled the requirements of numerous sports outfits. The innovation of novel materials and garments was so fruitful that in numerous sports, essential performance necessities have been recognized and chiefly contented. These days, from very decent microfibers to much more complex fabrics are successfully incorporated in active sportswear.