Global Polyester Filament Market Scenario Highlighting Major Drivers & Trends, 2018-2027|| Key players- Filatex India Limited, Meher International, Thai Polyester Company, Sivasakhi Threads, Beximco Synthetics Limited

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.

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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.

The Polyester Filament Market Report also provides an overview of the market including important information on the current scenario in the polyester filament market, along with the segment-wise and region-wise analysis. The report also elaborate market demand, company competition and factors influencing price and sales of polyester filament globally.

Growing Permeation of Textile Materials in Healthcare

Textile materials are widely adopted in medical and surgical applications. Research utilizing new and existing materials is leading to the advancement of surgical and medical 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. Government is also contributing to the research of technical textiles and promoting use of non-woven textile in government hospitals.

Apparel and Home Furnishing Production to Undergird 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.

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Proportionate Relationship of Polyester Filament and Crude Oil Prices

Growing raw material prices and increasing production cost following the high crude oil prices are impacting the polyester filament market. The cost of raw materials including petrochemicals such as PTA and DMT refined from crude oil are constantly increasing, resulting in the high prices of synthetic yarns. 

According to the International Energy Agency (IEA), there is a high risk of oil prices increase rapidly in the coming months. Moreover, IEA also found that impact on Iran from further US sanctions and supply problem in Libya and Venezuela are likely to affect OPEC’s drive to increase the production and ease prices.

The cost of synthetic fiber is constantly rising in Asia. China with world’s 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 if demand remains strong. Increase in crude oil prices in India is leading to sharp rise in petrochemical cost hitting polyester filament yarn industry.

The International Cotton Advisory Committee has also stated that the recovery in cotton production will continue in coming years, with growth expected to reach 11%. It also expects boost in cotton demand due to the rise in oil prices, affecting synthetic fiber prices including nylon and polyester.

Competitive Landscape

The report on the polyester filament market offers key insights and detailed profiles of all the major players operating in polyester filament market. The report also includes key developments, business strategies and new product launches by the leading players in the polyester filament market. The report also provides growth strategies adopted by major layers along with the mergers and acquisitions, and strategic partnerships in the polyester filament market.

Indorama Ventures, a Thai petrochemical company has acquired 74% stake in Egypt-based Medco Plast for Packing and Packaging Systems. The acquisition will help Indorama Ventures to expand in East African PET packaging market. This is a second deal of Indorama Ventures in Egypt as the company also entered into a joint venture with Dhunseri Petrochem Limited to acquire PET facility in Egypt.

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