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Polyester Filament Market

Polyester Filament Market - Global Industry Analysis, Size, Trends, Growth, and Forecast 2020 – 2030

Global Polyester Filament Market: Overview

 Increasing use of textile materials in the healthcare sector is leading to higher demand in the global polyester filament market. Over the forecast period of 2020 to 2030, advancement in surgical textiles will lead to rapid growth. Transparency Market Research notes that this will create a fertile ground for opportunities, to emerge, over the stated period. Players in the market will make use of varied strategies to tap into these, invariably contributing thus towards the growth of the market. Moderate yet steady compound annual growth rate is anticipated.

It is quite interesting to note here that world over home furnishing industry is taking to this yarn instead of cotton. This is enables by new-age interior designing rules. Urbanization is also leading to higher demand for such furniture, taking the global polyester filament market worth higher.

Global Polyester Filament Market: Competitive Landscape

The global polyester filament market is consolidated with just 3 players holding a massive share of about 40% of revenues. Most notable players in the market are focused on entering new alliances to chart growth and strengthen standing in the market.

The major players are:

  • Hyosung
  • Kordsa Global
  • Kolon Industries

These players are focusing upon improving product portfolio and focusing upon research and development activities. Additionally, marketing and innovation forms key growth factors for players. Additionally, alliances often pave way for better reach, helping players tap into new consumer bases.

Global Polyester Filament Market: Key Trends and Drivers

The vendor landscape of the global polyester filament market is set to witness various trends and drivers, helping players chart higher growth. The trends and drivers are identified, examined, and spelled out in great detail in Transparency market Research’s upcoming report on the global polyester filament market. A glimpse into some of the notable ones is provided below:

  • Sustainability is marking a number of industry verticals and the market for polyester filament market is no different. It is quite interesting to note here that recycled polyester filament is therefore gaining prominence, especially in the production of furniture. The millennial populace, marked by woke mindset is a particular consumer group asking for sustainability in products.
  • Research and development (R&D) in the global polyester filament market is witnessing an increase in activity. This is also leading to growth in the market over the forecast period. Additionally, it is worth noting here that innovation in the market is a major growth factor, paving way for a high growth trajectory, over the forecast period of the market report.

Global Polyester Filament Market: Regional Analysis

Strong presence of manufacturers in Asia Pacific (APAC) region, coupled with entry of new players is set to make the market a prominent landscape. It is worth noting here at the focal point of production of the yarn of polyester filament is the Northeast Asian region. Demand for the same is majorly propelled by China and India. Heavy industrialization and rapid urbanization are major growth factors in the Asia Pacific polyester filament market. North America and Europe will be other lucrative regional markets with a large demand for modern furniture, made up of recycled material – something the millennial populace is quite big on. Additionally, high disposable income in the regions help the markets grow substantially. It is worth noting here that major exporters of the product in the world are Western Europe, North Africa, South East Asia.

Polyester Filament Market

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