Polyester Filament Yarn Market Size, Share, Growth, and Industry Analysis, by Type (Partially Oriented Yarn (POY), Polyester Fully Drawn Yarn (FDY), and Polyester Drawn Textured Yarn (DTY)), By Application (Apparel, Industrial, Household Textiles, and Other) Regional Forecast To 2031

Updated On: 22 April 2024

POLYESTER FILAMENT YARN MARKET REPORT OVERVIEW

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global polyester filament yarn market size was USD 63710 million in 2022 and market is projected to touch USD 104748.6 Million By 2031, exhibiting a CAGR of 5.7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the polyester filament yarn market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Polyester filament yarn is one of the finest synthetic yarns used for a variety of applications such as embroidery, sewing, knitting, weaving, and so on. These yarns are also known as PFY. In order to create polyester fabrics for consumer goods and home furnishings like curtains, bed sheets, bed spreads, and draperies, polyester filament yarns are utilized in knitting and weaving. Ropes, conveyor belts, safety belts, and tire fabric can all be made using polyester high-tenacity industrial yarns. The initial form of the fiber is a filament. It resembles a fishing line a lot. If correctly placed, filament is quite durable and keeps dye very well.

PFY yarns manufactured from PET polyester are in high demand in the international market. These yarns are widely used in the contemporary fiber-producing sectors. PFY is powerful and captivating. Both the multifilament and monofilament variants of these are employed. PFY has a number of attributes, including extreme tenacity lightweight textiles like organdy and voile are made with PFY, while tenacity is used more frequently. In contrast to the low tenacity or duller variety of PFY, which is used to produce blouses and shirts, PFY is used to make lingerie.

COVID-19 Impact: The Cumulative Effect of the Pandemic Put a Halt on the Market's Growth.

The COVID-19 virus has been spreading since its emergence in December 2019 and has cost the world's economy and manufacturing industries a great deal of money while also growing the internet market and industry. Fortunately, due to the creation of a vaccine and other initiatives by international governments and organizations, it is projected that the negative impacts of COVID-19 will lessen and the global economy will recover. The pandemic's cumulative impacts affected every phase of a product's life cycle, which impeded the market growth for polyester filament yarn.

LATEST TRENDS

"Popularity in the Medical Field Increases Market Growth"

Textiles are frequently used in surgical and medicinal applications. Surgical and biomedical textiles are evolving thanks to research, including both new and old materials. The development of medical textiles is driven by biodegradability, flexibility, and softness. The use of cloth in implantable technology is becoming increasingly popular. In medical textile implant devices, polyester is increasingly used as the primary material. For artificial tendons, heart valves, vascular grafts, and ligaments, materials like polyester low-density filaments and polyester multifilament are frequently used as textile medical implants. Polyester filament yarn is used for artificial grafts due to its excellent mechanical and chemical qualities and low moisture absorption.

POLYESTER FILAMENT YARN MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into Partially Oriented Yarn (POY), Polyester Fully Drawn Yarn (FDY), and Polyester Drawn Textured Yarn (DTY).

Partially Oriented Yarn (POY) is the leading part of this segment.

• By Application

Based on application; the market is divided into Apparel, Industrial, Household Textiles, and Other.

 Apparel is the leading part of the application segment.

DRIVING FACTORS

"Acceptance from End-Use Industries Increases Product Demand"

Polyester filament is used in a variety of industries, including textiles, automotive, and healthcare. Manufacturers primarily favor polyester filament for creating protective garment fabric because of its exceptional properties. The main drivers of polyester filament's market growth are its simplicity of usage and broad range of industrial applications. Additionally, polyester filament is more cost-effective than its alternatives (nylon and cotton), making it a better material for usage in a variety of applications. The automotive and textile industries' quick adoption of dyed polyester has resulted in a large rise in the demand for polyester filament, which is fueling the market's overall expansion.

"Replacement for Natural Filament Speeds Up Market Growth"

Polyester textile filament is one of the main types of polyester filament that is widely used in the manufacture of textiles and fabrics for clothing, footwear, and home furnishings. Due to its durability, resistance to wrinkles, little shrinkage, and great color retention, polyester filament is in high demand when compared to natural filament in the creation of clothing. With innovative interior design ideas and rising urbanization, particularly in emerging nations, polyester filament is replacing cotton as the predominant fabric in the home furnishings business. With innovative interior design ideas and rising urbanization, particularly in emerging nations, polyester filament is replacing cotton as the predominant fabric in the home furnishings business.

RESTRAINING FACTORS

"Some of the Product’s Properties Hinder the Market’s Growth."

The product has a lot of benefits that make its end-user industries popular. Although the product's benefits contributed to market expansion, several disadvantages caused it to stagnate. Poor hygroscopicity, easy accumulation of static electricity, dust collection, and dyeing challenges are some of its drawbacks, which motivate researchers to create distinctive polyester fibers. Polyester's lack of breathability is its major drawback. In humid weather, it can make you feel clammy, sticky, and uncomfortable since it retains heat and perspiration adjacent to your skin.

POLYESTER FILAMENT YARN MARKET REGIONAL INSIGHTS

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"Asia Pacific to Lead Market Owing to Urbanization"

Compared to other geographical areas, Asia-Pacific has the largest polyester filament yarn market share. The region's consistent increases in polyester fiber production and consumption are a further indication of the market's need for the product. Rising disposable income, quick urbanization, and industrialization are the primary drivers of the polyester filament yarn market growth in this region. The sale of polyester filament yarn has also been boosted by an increase in demand for goods made using polyester fibers, such as non-woven fabrics, home furnishings, rugs, and carpets.

KEY INDUSTRY PLAYERS

"Prominent Market Players to Accelerate Market Growth"

A number of sources were used to compile the data for this market. Several examples include trade magazines, statistics from professional associations, university studies, and government reports. Information is acquired from producers, distributors, sellers, retailers, micro-experts, and other market participants in addition to these primary sources. The study provides information on market players and their regional activity. Partnerships, technological developments, acquisitions, mergers, and the growth of industrial facilities are a few examples of techniques for gathering data and generating reports.

List of Market Players Profiled

• Tongkun Group (China)
• Xin Feng Ming Group (China)
• Zhejiang Hengyi Group (China)
• Reliance (India)
• Shenghong (China)
• Hengli Group (China)
• Billion Industrial (China)
• Rongsheng PetroChemical (China)
• Jiangsu Sanfangxiang Group (China)
• Zhejiang Tiansheng Holding (China)
• Nanya (Taiwan)
• Toray (Japan)

REPORT COVERAGE

A thorough examination of the market's current situation is included in the study, along with an examination of raw materials, technology, and machinery, as well as supply and demand, production capacity, and industry chain analysis. The market potential and market dangers related to the creation of particular categories are assessed in this study. Additionally, it evaluates the impact of significant market drivers and restraints on market growth. The effectiveness of important firms is assessed throughout time, and their influences on market dynamics are investigated.