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Polyester Textile Filament Market 2028 : Increasing Demand from The Garment and Automotive Sector

Reports And Data

Reports And Data

According to Reports and Data, The Global Polyester Textile Filament Market is Anticipated To Reach USD 70.78 Billion During Forecast Period 2028

NEW YORK CITY, NEW YORK, UNITED STATES, November 30, 2022 /EINPresswire.com/ -- The Global Polyester Textile Filament market is forecast to reach USD 56.01 Billion by 2028, according to a new report by Reports and Data. Polyester Textile Filament is one of the most commonly used synthetic filament. Synthetic fibers can be described as filaments that are man-made, with the help of chemical synthesis, contrary to natural fibers that are derived from living organisms. This filament finds application in the industrial manufacturing sector and numerous other areas of application. These find usage in apparel for jackets, overcoats, and protective clothing, among others. In residential furnishings, these fibers have widespread usage ranging from curtain fabrics to furniture coverings, table and bed linen to wall and floor coverings, and pillows, and pillow stuffing. The fast-drying and lightweight features of polyester filament makes it a commonly used material in sportswear, which is expected to drive the market growth in the forecast period. Its non-biodegradable property and corrosion resistance have resulted in its wide application and demand from the automotive sector.

In regards to region, North America can be seen to occupy a considerable share of the market. The market share held by the region is attributed to the developed automotive industry and advancing apparel sector that is supporting the expansion of the market in this region.

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Key participants include Meher International, Filatex India Limited, Sivasakhi Threads, Thai Polyester Company, Sarla Performance Fibers, Beximco Synthetics Limited, Indorama Ventures, Tepar Textiles, Fujian Jinlun Fiber Shareholding Company Limited and Reliance Industries.

Some Key Highlights in the Report

The Polyester Textile Filament market held a market share of USD 56.01 Billion in the year 2020 that is forecasted to grow at a rate of 3.1% during the forecast period.
In context to Product Type, the Polyester Drawn Textured Yarn (DTY) segment is projected to witness a considerable growth rate of 3.6% during the forecast period, which is expected to occupy more than 25.0% of the market by 2028. DTY is used in manufacturing textiles and fabrics for high-end sports shoes, high-end apparel, home furnishings, sports bags, and zipper tapes. Growing demand for sportswear and home furnishing is contributing to the growth rate witnessed by this segment.
In context to Application, the Medical textile segment is projected to witness a considerable growth rate of 4.0% during the forecast period, which is expected to hold more than 15.0% of the market share by 2028. The growth rate witnessed by the Medical textile segment is attributed to increasing demand for this textile and expansion of medical tourism in regions like India, which is resulting in growing demand for this textile in the healthcare sector.
In regards to End-user, the Garment industry segment held a considerable share of the market, which held more than 60.0% of the market in 2020, with a CAGR of 3.2% during the forecast period. Fabrics knitted or woven from polyester or polyester thread are used widely in apparel for pants, jackets, hats due to its traits like fast-drying and lightweight features, which contribute to the market share held by this segment.

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Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

Partially Oriented Yarn (POY)
Polyester Drawn Textured Yarn (DTY)
Polyester Fully Drawn Yarn (FDY)
Others

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

Healthcare sector
Automotive industry
Garment industry
Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

Apparel
Home furnishing
Footwear
Medical textile
Automobile parts
Others

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Key Questions answered by the Report:

What is the expected year-on-year growth of the during the forecast period?
What key trends are expected influence revenue growth of the market going ahead?
Which region is expected to account for largest revenue share over the forecast period?
Which key companies are profiled in the report?

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Reports and Data
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