Polyester Filament Market

Global Polyester Filament Market Outlook

The global polyester filament market is estimated at USD 106 billion in 2022 and is forecast to reach USD 174.7 billion by 2032, growing at a CAGR of 5.1% from 2022 to 2032.

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%
Key Companies Profiled	Filatex India Limited Meher International Thai Polyester Company Sivasakhi threads Beximco Synthetics Limited Sarla Performance Fibers Tepar Textiles Indorama Ventures Reliance Industries Others

Demand for polyester filament is increasing rapidly across the globe which is expected to generate a market valuation around 11.7% of global textile market by 2022 end. Manufacturers are employing advanced manufacturing technologies in order to enhance the efficiency of polyester filament and increase production.

However, by following environmental regulations, manufacturers are developing advanced green technologies like polyester recycling, which can ultimately improve the ease of compliance with regulations. By targeting niche applications across range of end-use industries, companies are focusing on developing more advanced polyester filament manufacturing technology.

An evolution in the formulations of polyester filament has witnessed high consumption in turn achieving better results. Exceptional properties of polyester such as rigidness, flexibility, inexpensiveness had enabled the growth of the polyester filament market since past.

Historical and Forecast Analysis of Polyester Filament Market (2017-2032)

Historically, the market value of the polyester filament showed a growth of 3.9% CAGR from 2017 to 2021. The global polyester filament market has generated an absolute dollar opportunity of around USD 20.8 billion throughout the historical period of 2017 to 2021.

Moreover, global polyester filament market revenue largely contributed by the North America and had grown at a CAGR of 2.8% from 2017 to 2021. The region had generated revenue of USD 28.3 billion in 2021. 

Below are some of the points in the polyester filament acid market:

• South Asian & Oceania polyester filament market is the rapidly evolving which is holding around one-fifth of the global market shares. India is likely to grow at a CAGR of 6.7% and proliferate overall regional demand.
• Europe polyester filament market had shown a growth of 2.9% CAGR and acquired around one-sixth of the global market share in 2021. Germany was largest contributor to the polyester filament sales in Europe and continued to hold nearly one-third of the regional market share since 2017.
• North America hold over one-fourth of the global polyester filament consumption and anticipated open tremendous growth opportunities in near future.
• Cord yarn, a yarn type, is the largest market shareholder which had acquired more than 55% market share in 2021 and estimated to show significant growth in near future.
• The dyed process is largely adopted dying process owing to its numerous cost and operational benefits. The process had acquired around 90% market shares in the global polyester filament market in 2021 and estimated to show significant growth over the forecast period and expected to generate absolute dollar opportunities of USD 63 billion by 2032.
• From the segmental perspective, ply yarn, a yarn type, has acquired one-third market share in the global polyester filament market with a growth of 4.3% CAGR. It has generated absolute dollar opportunities of USD 3.2 billion amid 2017 & 2021.

What are the Prominent Driving Factors of the polyester Filament?

Polyester filament has its applications in various end-use industries including textile, automotive, healthcare and others. Due to the extraordinary property of the polyester filament, manufactures are mostly preferring it for making protective clothing fabric.

The ease of it uses and a wide range of industrial applications are the primary factors behind the overall market growth of polyester filament. Also, polyester filament is cheaper than its substitutes (nylon, cotton etc.) which makes it more suitable material to be used for several applications.

The rapid increase in the dyed polyester adopted by the automotive and textile industry has translated into a significant increase in demand for polyester filament, in turn driving the overall market growth.

The cost of synthetic fiber is constantly rising in Asia. China with world’s largest polyester filament production capacity also lifted the price of polyester filament yarn with upward fluctuation in crude oil prices.

Moreover, fiber suppliers are reluctant to reduce the price by looking into the strong demand. It is so obvious that the market price of polyester filament is fluctuating with the crude oil price but at the same time price can be maintained if the requirement is at higher side.

Country-Wise Analysis:

What are the Growth Opportunities in US Polyester Filament Market?

United States is the third largest textile output across the globe after China and India. Considering polyester fiber, the country produced over 1.3 million metric tons during 2021 which is approx. 10% higher than the previous year production.

The reason behind the increase production is the demand recovery which need adequate supply to fill up. The country is also involved in export of polyester fiber but still the growing domestic consumption is the primary reason behind the overall market growth in the US.

The steady growth in the production and consumption of polyester fiber across the US also signifying the market demand for polyester filament. The US polyester filament market anticipated to offer absolute dollar opportunities of around USD 14.1 billion with a growth of 5.8% CAGR over the forecast period.

How China is Still Being the Prominent Market for Polyester Filament?

East Asia is hold over 21% of the global polyester filament market share in which China is the largest market shareholder. The country is projected to gain 233 BPS by 2032 and grow at a CAGR of 5.8% during the forecast period.

The main factors behind the growth of polyester filament market in China is increasing disposable income, rapid urbanization and industrialization.

In Addition, rising demand for products that use polyester fibres, such as non-woven fabrics, home furnishings, rugs, carpets etc. has also driven the sale of polyester filament across the country.

China is estimated to offer an absolute dollar opportunity of USD 11.1 billion between 2022 & 2032.

Category-Wise Analysis:

How Growing Permeation of Textile Materials in Healthcare influencing the overall polyester filament market?

Textile materials are widely adopted in medical and surgical applications. Research utilizing new and existing materials is leading to the advancement of surgical and biomedical textiles. Biodegradability, flexibility, and softness are at the forefront of medical textile development.

The demand for textile in implantable devices is growing significantly. Polyester is emerging as the major material in medical textile implant devices. Materials including polyester low-density filaments and polyester multifilament are largely used as textile medical implants for artificial tendon, heart valves, vascular grafts, artificial ligament, etc.

Owing to the good mechanical and chemical properties, and low moisture absorption, polyester filament sales is high in artificial grafts. Polyester filament is emerging as a chief substitute for cotton in healthcare uniform market.

100% polyester is considered as sustainable alternative to polyester-cotton blended fabrics. Owing to its easy recyclability, comfort, and lowest survival of harmful micro-organisms on surface of polyester as compared to cotton.

Medical textile is witnessing significant growth in India due to the rise in medical tourism and easy availability of products. Several countries governments are also contributing to the research of technical textiles and promoting use of non-woven textile in government hospitals.

How Apparel and Home Furnishing Production Undergird the Demand for Polyester Filament?

Polyester textile filament is a main category of polyester filament finding wide usage in textile and fabrics production used to produce apparel, footwear, and home furnishing.

The demand for polyester filament is growing rapidly compared to natural filament in apparel production owing to its durability, wrinkle resistance, minimal shrinkage, and high color retention.

Northeast Asia is the focal point of world’s polyester filament yarn production, with demand largely driven by textile industry in India and China.

Polyester filament is overtaking cotton as the dominant fiber in home furnishing industry with new interior designing concepts and growing urbanization, especially in developing countries.

Polyester filament demand in home furnishing and apparel industry will continue to be strong in the coming years.

Polyester filament yarn is largely used as a substitute to cotton yarn owing to the short supply and high cotton prices, and constant improvement in manufacturing technologies of polyester filament.

Competitive Landscape:

Polyester filament market competitive landscape shows top manufacturers including Filatex India Limited, Meher International, Thai Polyester Company, Sivasakhi threads, Beximco Synthetics Limited, Sarla Performance Fibers, Tepar Textiles, Indorama Ventures and Reliance Industries

Tier 3 players in the polyester filament market hold more than 40% of share. The majority of the share in the market is concentrated among tier 3 players.

Most of the tier 3 companies are based in Asia Pacific region, including Thailand, China, Japan, and India.

Increasing number of companies in Asia Pacific are exporting polyester filament to Europe, where most of the synthetic fiber is used in apparel.

The companies focusing on designing new products for clothing and home textile in Asia Pacific with new features.

Meanwhile, tier 1 and tier 2 players are entering into strategic partnerships and mergers & acquisitions to consolidate their position globally.

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