Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market, By Denier (1000D 192F -1210 192F, 1300D 432F -1670 192F, 2000D 480F - 2200 640F, Others {1000D 335F, 1000D 320F, 1017D 212F, etc.}), By End User (Tire Cords, Conveyors, V-Belts, Hoses, Others

Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market, By Denier (1000D 192F -1210 192F, 1300D 432F -1670 192F, 2000D 480F - 2200 640F, Others {1000D 335F, 1000D 320F, 1017D 212F, etc.}), By End User (Tire Cords, Conveyors, V-Belts, Hoses, Others {Fishing Nets, Airbags, Power Transmission Belts, etc.}), By Type (Regular Adhesive, High Tenacity, High Count Filaments, Super Low Shrinkage, Others {Regular Active Adhesive, Flame Retardants, etc.}), By Country, Competition, Forecast & Opportunities, 2017-2027

Asia Pacific High modulus Low Shrinkage (HMLS) Polyester Yarn market stood at USD671.16 million in 2021 and is expected to grow at a CAGR of 8.07% during the forecast period. Because of elasticity and stability of High Modulus Low Shrinkage Polyester Yarn, it is utilized in the mechanical rubber goods industry to manufacture hoses, tires, cord textiles, conveyors, and v-belts. Increased demand can be ascribed to the growing population in Asia Pacific, which is going to push the demand for vehicles and thus the demand for radial tires. Polyester Tire Cord Fabric (PTCF), PTCF is produced by High Modulus Low Shrinkage Polyester Yarn. The production count of PTCF based tire is expected to increase in the coming years leading to an increase in the production of tires made from Polyester Tire Cord Fabric over Nylon Tire Cord Fiber (NTCF).

Global demand for high modulus low shrinkage polyester yarn stood at 836.06 thousand tonnes in 2021 and that of Asia Pacific stood at 354.49 thousand tonnes in the same year.

Growing Popularity for Technical Textile

The industry is witnessing emergence of innovative textiles, fabrics that can be used for a variety of purposes, and yarns that are multi-functional and beneficial in a wide range of industries. Countries are organizing their sectors to accommodate technology textiles as a result of technological breakthroughs. This change may also be seen in the APAC textile industry, which is shifting away from traditional textiles toward technology textiles.

Growing Localization of Markets

China is a market leader in manufacturing and exporting high modulus low shrinkage polyester yarn because it is known for being less reliant on imports and for making products in-house. India is also trying to follow China's lead by investing USD1400.78 million in January 2022 as part of the Production Linked Incentive (PLI) scheme, which aims to boost domestic investment and reduce reliance on imported resources and goods. This will help the Indian market grow in terms of high modulus low shrinkage polyester yarn through 2030.

Growing Demand from the Automotive Industry

Over the next few years, the rising use of high modulus low shrinkage polyester yarn in the automotive industry is predicted to push market growth. In the automotive business, high modulus low shrinkage polyester yarn is used to make automobile tires and mechanical rubber goods, among others. Because all radial tires are created with HMLS polyester yarn, and radial tires are becoming more popular in the automobile sector. However, due to increased vehicle sales, applications across the automotive industry, such as in automotive fabrics, are expected to develop in the coming years, resulting in significantly more market opportunities.

Market Segmentation

The Asia Pacific High Modulus Low Shrinkage Polyester Yarn market is segmented on the basis of denier, end user, type, country and by company. Based on denier, the market is divided into 1000D 192F -1210 192F, 1300D 432F -1670 192F, 2000D 480F - 2200 640F, Others. Based on end user, the market is divided into Tire Cords, Conveyors, V-Belts, Hoses, Others {Fishing Nets, Airbags, Power Transmission Belts, etc}. In terms of type, the market is divided into Regular Adhesive, High Tenacity, High Count Filaments, Super Low Shrinkage, Others {Regular Active Adhesive, Flame retardants, etc}.

Company Profiles

Hengli Group, Hyosung Advance Materials Corporation, United Raw Materials Pte Ltd., Zhejiang Guxiandao Polyester Dope Dyed Yarn Company Limited, Zhejiang Unifull Industrial Fibre Co. Limited, Jiangsu Taiji Industry New Materials Co., LTD, Shinkong Synthetic Fibers Corporation, Zhejiang Hailide New Material Co. Limited, PT INDO KORDSA Tbk, and Oriental Industries (Suzhou) Limited and Indorama Ventures Limited among others are some of the major market companies operating in the in the Asia Pacific high Modulus Low Shrinkage Polyester Yarn market.

Years considered for this report:

Historical Years: 2017-2020

Base Year: 2021

Estimated Year:2022E

Forecast Period: 2023F–2027F

Report Scope:

In this report, Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market, By Denier:
• 1000D 192F -1210 192F
• 1300D 432F -1670 192F
• 2000D 480F - 2200 640F
• Others
• Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market, By End User:
• Tire Cords
• Conveyors
• Hoses
• V-Belt
• Others
• Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market, By Type:
• Regular Adhesive Type
• Super Low Shrinkage
• High Count Filaments
• High Tenacity
• Others
• Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market, By Country:
• China
• India
• Taiwan
• South Korea
• Japan
• Indonesia
• Thailand
• Vietnam
• Philippines
• Australia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia Pacific High Modulus Low Shrinkage Polyester Yarn market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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