US Polyester Filament Market Is Acquiring More Than 28.1% Market Share In The Global Polyester Filament Market

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The global polyester filament market is expected to grow at a 5.1% CAGR from 2022 to 2032, from USD 106 billion in 2022 to USD 174.7 billion in 2032.

Global demand for polyester filament is increasing quickly; by 2022, it's predicted to make up about 11.7% of the global textile market. Manufacturers are utilising cutting-edge manufacturing techniques to boost production and improve polyester filament efficiency.

As a result of manufacturers adhering to environmental standards, advanced green technologies like polyester recycling are being developed, which may ultimately make compliance with regulations easier. By focusing on various applications across a range of end-use sectors, businesses are working to develop more sophisticated polyester filament manufacturing technologies.

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Higher consumption and better performance are the results of improved polyester filament formulations. The growth of the polyester filament market in the past has been fueled by polyester's exceptional properties, such as rigidity, flexibility, and low cost.

A number of industries, including textile, automotive, and healthcare, use polyester filament. Because of its exceptional qualities, polyester filament is preferred by manufacturers when making protective clothing fabric.

Demand for polyester filament has significantly increased as a result of the automotive and textile industries' adoption of dyed polyester, which has fueled market expansion overall.

The United States is the third-largest textile producer in the world, behind China and India. About 1.3 million metric tonnes of polyester fibre were produced in the nation in 2021, an increase of almost 10% over output in the year before.

The rise in output is the result of recovering demand, which requires suitable supply to close the gap. Although the nation also exports polyester fibre, rising domestic demand is the main driver of the growth of the overall polyester filament market in the United States.

Report Attributes

Details

Market size value in 2021

USD 104.1 Billion

Market Value Estimate in 2022

USD 106 Billion

Market forecast value in 2032

USD 174.7 Billion

Global Growth Rate (2022-2032)

CAGR 5.1%

East Asia Market Size in 2021

USD 22.8 Billion

East Asia Growth Rate (2022-2032)

CAGR 6.3%

Top 5 Companies Market Share in 2021

~43%

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Polyester Filament Market Key Segments:

  • By Yarn Type :
    • Single yarn
    • Ply Yarn
    • Cord yarn
  • By Type :
    • Drawn Texture Yarn (DTY)
    • Fully Drawn Yarn (FDY)
    • Partially Oriented Yarn (POY)
  • By Dyeing Process :
    • Dyed
    • Non-Dyed
  • By End-Use Industry :
    • Textile Industry
    • Automotive industry
    • Healthcare
    • Other end-use industry

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Key Learnings:

·         The polyester filament market in South Asia and Oceania will hold one-fifth of the global market share.

·         In terms of yarn type, cord yarn is anticipated to dominate and hold more than 55% of the market in 2021.

·         By 2032, the ply yarn market is anticipated to grow at a CAGR of 4.3%.

·         In 2021, the dyeing process held a market share of more than 90%.

Growth Engines

·         The growth of the polyester filament market is being driven by numerous applications of polyester filament in numerous end-use industries, including textile, automotive, and healthcare.

·         Polyester filament demand has increased significantly as a result of the automotive and textile industries' rapid increase in the use of dyed polyester.

Tags:

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