POLYARYLATE FIBER MARKET REPORT OVERVIEW
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The global polyarylate fiber market size was USD 9181.1 million in 2022. As per our research, the market is projected to touch USD 18354 million by 2031, exhibiting a CAGR of 8.0% during the forecast period.
Polyarylate fibers are multifilament fibers produced from liquid crystal polymers (LCP) with exceptional performance. Vectran is the only commercially available melt-spun LCP, and it has a high level of strength and stiffness. For example, Fiber is five times stronger than steel and 10 times stronger than aluminum. Polyarylate fiber also possesses creep strength and resistance properties, low moisture retention, resistance to chemicals, and great property retention at extremes of temperature. The primary drivers of this market are the increasing demand from the textile industry for garment production and rising demand from the home furnishing segment. Growing awareness of recycled polyarylate fiber due to rising environmental concerns is likely to open up plenty of attractive potential for industry expansion.
COVID-19 Impact: Halt on Production and Raw Material Shortage to Impede Sales
The textile sectors have been impacted in several countries because of the global lockdown imposed during the COVID-19 epidemic. The supply chains, logistic procedures, and workforce availability have all decreased, causing the polyarylate market operations to be moderately affected. Textile industries in countries with low to medium-sized lean manufacturing plant enterprises, such as Vietnam and Bangladesh, have been forced to shut down which has impacted the market demand. Polyarylate fibers are mostly employed in the apparel and textile sectors, the reduction of this end-use sector is directly limiting the growth of the market during the COVID-19 epidemic.
"Increasing Demand from Textile Industry to Bolster Market Progress"
The increasing use of polyarylate fiber in sportswear, and activewear is driving up demand in the industry, propelling the market forward. The market is also benefiting from a surge in the use of polyarylate fiber as a cotton alternative due to attributes such as cost, thinness, and availability in a variety of styles and colors. In addition, there are various high-tech polyarylate fibers that have antibacterial qualities and provide better protection against odor and diseases. Moreover, due to its increasing attractiveness and adaptability, technical textile is one of the most innovative product sectors in the market. The need for technical textiles is being fueled by the continued expansion of the automotive and medical industries. Emerging economies like China and India are emphasizing the adoption of cutting-edge technologies and manufacturing techniques across a wide range of industries. This has sparked the adoption of technical textiles across a variety of industries.
POLYARYLATE FIBER MARKET SEGMENTATION
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- By Type Analysis
By type, the market is segmented into solid and hollow.
The hollow segment is expected to lead because of its adoption in medical applications. Certain filter configurations are available due to the flexibility of the strands, which are not achievable in other filtration systems. These factors are likely to influence the growth of the polyarylate fiber market.
- By Application Analysis
Based on application, the market is classified into carpets & rugs, non-woven fabrics, fiberfill, apparels, and home textiles.
The apparel segment is likely to dominate the market by application, owing to a growth in the use of polyarylate fiber for apparel production, which is less expensive than cotton. These factors may propel industry growth.
"Increasing Awareness and Adaptability to Facilitate Industry Progress"
Advanced textiles are being consumed more frequently as people become more aware of their improved functionality and applications. Traditional production has been influenced by the rising adaptability of unconventional value in textiles to accelerate the speed of innovation and enhance traditional fibers by adding to technical textile development. The shift is due to increased demand for products that are flexible, durable, and have superior features including personal safety, high strength, and lightweight.
The textile sector has seen rapid expansion in most of its product segments, particularly technical textiles, and technological advancements. New technologies are projected to lower production costs, making commercial production of technical textiles possible which is anticipated to drive the polyarylate fiber market.
"Increasing Adoption of Sustainable Products to Magnify Market Growth"
Textile producers and distributors are progressively being obliged to deliver textiles that are sustainably manufactured and free of harmful chemicals due to pressure from governments, non-governmental agencies, and end-users. Large brands and merchants are requesting that their suppliers prove the items' long-term sustainability. For this purpose, restricted substance lists (RSLs) are produced, which prohibited chemicals and their maximum values. Aside from RSLs, which state and which chemicals should be prohibited, and the outlined list of chemicals that can be used. For example, Bluesign, a Swiss corporation, has developed a good list of dyestuffs and chemicals that are available to the company's partners.
"Fluctuations in Raw Material Prices to Impede Market Progress"
The prices of raw materials and energy utilized in the production of fabrics are highly fluctuating. These materials' prices have a direct impact on the value chain's units, which include procurement and operating costs. Manufacturers' profit margins are also affected by sudden price increases or decreases. The final price is influenced by raw material prices and availability. Some raw materials' prices are listed on the commodities market, which is tradable on the stock exchange, for price variations from day to day. Therefore, prices are subject to market forces and fluctuations may intensify the high production costs. This may have an impact on the product's demand and supply, limiting market growth.
POLYARYLATE FIBER MARKET REGIONAL INSIGHTS
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"Increasing Demand from Home Textiles to Bolster Growth in Asia Pacific"
Regionally, the market is grouped into North America, Europe, Asia-Pacific, and Middle East & Africa.
Asia Pacific is expected to dominate the polyarylate fiber market share during the projected period. The demand is increasing in nations like China, India, and South Korea, owing to an increase in demand from diverse applications in apparel, automotive, and home furnishing. The rising population, changing lifestyles, economic growth, and rising per capita income are major contributing factors. For example, India's "Make in India" effort is expected to play a key role in establishing the country as a chemical production hub, particularly for specialty chemicals.
North America is the second-largest market shareholder due to expanding medical textile industry, presence of a varied client base and leading enterprises in the region, have all contributed to increasing use of antimicrobial textiles in this region. An increase in demand for fiber in textiles has arisen from greater consumer awareness of health and cleanliness, and growing need for high-quality textile products. The polyarylate fiber market is also growing due to rapid industrialization, strict industrial safety regulations, and developments in textile materials.
The European market is also moving toward a more environmentally friendly approach, aided by tough regional administrations and European Union programmes (EU). It is expected to rank among the top three regions during the projection period, owing to the growing importance of geotextiles in the region.
KEY INDUSTRY PLAYERS
"Companies Adopt Technologically Advanced Production Techniques to Improve Market Position"
Because of the presence of established organizations and the introduction of entrants into the area, the market is tremendously competitive. This is due to the ever-increasing population and their living standards, which have boosted textile consumption and fueled the textile industry's expansion. Therefore, top manufacturers have begun to invest in R&D, mergers and acquisitions. Some textile companies are focusing on the creation of smart textiles that incorporate high-performance protective materials, nanotechnology and biotechnology expertise to reduce emissions and costs.
- February 2021: Dow created a revolutionary lasting water-repellent coating to enable more sustainable fabrics. Fabric retention is improved with the DOWSIL IE-8749 emulsion treatment. Furthermore, the DOWSIL IE-8749 Emulsion finish need not be heat-treated on a regular basis to maintain its water repellency, which is a significant benefit in terms of the end product's longevity. Textile finishers get more control over the final smooth feel of the fabric by introducing DOWSIL IE-8749 Emulsion treatment into their finishing operations.
List of Market Players Profiled
- Evonik Industries
- Formosa Plastics Corporation
- LG Chem
- Nippon Shokubai
- Sanyo Chemical Industries
- Songwon Industrial
- Sumitomo Seika Chemicals Company Limited
- Yixing Danson Technology
The Polyarylate Fiber market research contains data on market size, pricing patterns, and emerging growth, understanding of industry aspects that can lead to lucrative opportunities for new entrants and established companies. This report provides a thorough examination of the market's major drivers and restraints. The reports contain market trends that will determine the market's future direction. The report also includes a detailed analysis of the achievements of the top players in the global market. It also mentions the market's important trends that are likely to be profitable. The goal of the research report is to present a balanced and accurate picture of the situation.
Market Size Value In
US$ 9181.1 Million in 2022
Market Size Value By
US$ 18354 Million by 2031
CAGR of 8% from 2022 to 2031
Historical Data Available
Type & Application
Frequently Asked Questions
What value is the polyarylate fiber market expected to touch by 2031?
Based on our research, the polyarylate fiber market is projected to touch USD 18354 million by 2031.
What CAGR is the polyarylate fiber market expected to exhibit by 2031?
The polyarylate fiber market is expected to exhibit a CAGR of 8.0% by 2031.
What are the leading segments of the polyarylate fiber market?
By type, the market is segmented into solid and hollow. Based on application, the polyarylate fiber market is classified into carpets & rugs, non-woven fabrics, fiberfill, apparels, and home textiles.
Which are the driving factors of the polyarylate fiber market?
Increasing awareness and adaptability of sustainable products are the factors driving the polyarylate fiber market.
Which are the top companies operating in the polyarylate fiber market?
DowDuPont, Evonik Industries, Formosa Plastic Corporation, LG Chem, Nippon Shokubai, Sanyo Chemical Industries, Songwon Industrial, Sumitomo Seika Chemicals Company Limited, Yixing Danson Technology are the top companies operating in the market.