The global Polyester POY (Partially Oriented Yarn) market is expected to reach USD 32.03 Billion by 2030, according to a new report by Reports and Data. The growth of the market is attributed to the increasing applications of Polyester POY (Partially Oriented Yarn) amongst the end-users.
The increasing use of Polyester POY (Partially Oriented Yarn) in the textile industry is likely to drive the growth of the market in the upcoming years. The Polyester POY (Partially Oriented Yarn)s possesses 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, and 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 (Partially Oriented Yarn) is resistant to alkali attacks, and PFRC finds usage as overlays and in pavement quality concrete. The application of fibers may result in cement savings of nearly 10.0%, and with fly ash, the cement saving may be increased to about 35.0%. Polyester POY (Partially Oriented Yarn), owing to its non-biodegradable property, is used in cement concrete road works, thereby assisting in the conservation of the environment.
Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
According to a recent market analysis report by Reports and Data, the global materials chemicals market is expected to surpass a market size of USD 32.03 Billion by 2030, registering a robust 7.5% CAGR during the forecast period. The global materials chemicals market revenue growth is primarily attributed to factors such as fast-paced industrialization across the globe, rising demand for essential consumer goods (including packaged foods beverages, personal care cosmetic products, and household hygiene products), and increasing applications of raw materials and chemicals in a wide range of industries including the buildings construction, food beverage, pharmaceutical, agriculture, and textile industries. Other important factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing use of high-performance, organic agrochemicals in the agriculture industry, rising environmental concerns among the population, growing need for environmentally friendly and sustainable raw materials and chemicals, and increasing government investments in the materials chemicals industry.
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Top 10 Companies Operating in the Global Polyester POY (Partially Oriented Yarn) Market:
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.
Polyester POY (Partially Oriented Yarn) Market Segmentation
Raw Material Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Polyethylene Terephthalate
- Poly-1, 4-Cyclohexylene Dimethylene (PCDT)
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; 2019-2030 and Revenue, USD Million; 2019-2030)
- Tire Cords
- Mechanical Rubber Goods
- Non-Woven Fabrics
- Apparels
- Others
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