Global Polyester POY Market is expected to reach USD 25.70 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the increasing applications of Polyester POY amongst the end-users.
The increasing use of Polyester POY in the textile industry is likely to drive the growth of the market in the upcoming years. The Polyester POYs possess good elasticity, shape retention, wrinkle resistance, exceptional wash wear performance, washability, and longevity, among others, and as a result, finds extensive application in various types of apparel fabrics. It is used to make fashionable dresses, weather-resistant clothing, and is a preferred material for children’s wear.
Growing demand from the construction industry is likely to boost the market demand. Polyester Fiber Reinforced Concrete (PFRC) is used in cement concrete pavement material. Polyester POY is resistant to alkali attacks, and PFRC finds usage as overlays and in pavement quality concrete. The application of fibers may result in cement saving of nearly 10.0%, and with fly ash, the cement saving may be increased to about 35.0%. Polyester POY, owing to their non-biodegradable property, are used in cement concrete road works, thereby assisting in the conservation of the environment.
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Top Key Players:
Tongkun Group Co. Ltd., Shenghong Corp., Xin Feng Ming Group, Reliance Industries Ltd., Reliance Industries Ltd., William Barnet Son LLC, Hengli Group, Indorama Ventures Public Company Limited, Polyfibre Industries, Toray Industries Inc., and GreenFiber International SA, among others.
Further key findings from the report suggest:
Partially Oriented Yarn (POY) is a kind of Polyester, which is the primary Polyester POY is produced by polymerizing and spinning processes. It is mostly used as a key raw material for drawn textured yarn (DTY).
By material, polyethylene terephthalate (PET) held a larger market share in 2019 and is likely to grow at a rate of 7.7% in the forecast period. The market dominance of this grade is owing to the offering of high strength and lightweight properties.
By application, tire cord contributed to the largest market share in 2019 and is expected to grow at a rate of 7.2% in the forecast period. Tire cord fabrics find application as strengthening materials for tires and developed to maintain the structural shape of the tires and support automotive weight, thereby having a considerable impact on tire performance.
North American market, led by the U.S., held the second-largest market share in 2019 and is projected to grow at a rate of 6.7% in the forecast period.
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Report Overview:
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Polyester POY market is expected to register robust revenue growth during the forecast period, 2021-2027. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
Competitive Landscape:
The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Polyester POY market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
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Raw Material Outlook
Polyethylene Terephthalate
Poly-1, 4-Cyclohexylene Dimethylene (PCDT)
Others
Distribution Channel Outlook
Online
Offline
Application Outlook
Tire Cords
Mechanical Rubber Goods
Non-Woven Fabrics
Apparels
Others
Regional Outlook:
North America (U.S., Canada, Mexico)
Europe (Germany, Italy, U.K., Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Rest of Asia Pacific
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, South Africa, U.A.E, Rest of Middle East Africa)
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