India High Tenacity Low Elongation Polyester Yarn Market to Grow with a CAGR of 10.60% through 2027
Rising urbanization is
expected to be major driver for demand for items made from high tenacity low
elongation polyester yarn in India during the forecast period 2023-2027.
According to TechSci Research
report, “India High Tenacity Low
Elongation Polyester Yarn Market – By Region, Competition Forecast and Opportunities,
2017-2027”, India High Tenacity Low
Elongation Polyester Yarn Market stood at USD199.06 million in 2021 and is
projected to grow at a CAGR of 10.60% in the forecast period. In the next five
years, the demand for HTLE polyester yarn in the automotive, construction, and
transportation industries will be the main drivers of growth in India. In the
automobile business, high tenacity low elongation polyester yarn is used to
make airbags, seatbelts, and mechanical rubber goods, among other things. Soil degradation is
increasing every year. It is expected to cause the loss of 100,000 km² of agriculture globally. Initiatives taken
by government are more likely to boost the growth of the India High Tenacity
Low Elongation Polyester Yarn Market. Disposal of solid waste and wastewater is increasing
at a rapid rate Because waste water has a direct impact on health and the environment,
numerous countries, including India, are enacting stringent laws to reduce
solid waste in wastewater.
As a result, the growing demand
for geotextiles is driving the market for high tenacity low elongation polyester
yarn in the country. More roads are being built because of increased
urbanization, resulting in increased demand for geotextiles, thereby propelling
the country's high tenacity, low elongation polyester yarn. Volatility in raw
material prices and fluctuations in oil prices are the key factors that will
hamper the growth of India HTLE polyester yarn market. The fluctuations in
prices of the raw materials also affect manufacturers' operating margins,
making it difficult for them to sustain in the market.
Browse over 34 market
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India
High Tenacity Low Elongation Polyester Yarn Market is segmented on the basis of denier, end
user, region, and company.
Based on the
end user, the market is segmented into Geotextiles, Hoardings, Seatbelt, Cord
Strappings, Billboard sheets, Fire Hose and Others. Geotextiles industry led
the market with a market share of 29.86%
in 2021. The
entry of new market players and huge untapped potential in the country is
expected to create lucrative growth in the forecast period.
Based on the region,
the West dominated the market in 2021 with an overall share of 46.95% on account of widespread use and adoption
of HTLE Polyester Yarn.
Major
market players operating in India High Tenacity Low Elongation
Polyester Yarn Market are:
·
Reliance
Industries Limited
·
AYM
Syntex Limited
·
Sanathan
Textiles Limited
·
Indorama
Ventures Limited
·
Huvis Corporation
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“The announcement of various
domestic players manufacturing high tenacity low elongation yarns in India, as
well as anti-dumping duties ranging from 5% to 16.90 percent on all types of
imported yarns, is expected to lead to the emergence of various domestic
players manufacturing high tenacity low elongation yarns in India. This has
also led the existing companies to expand themselves, fueling the demand for
HTLE for various applications. These yarns also have their applications in
Automotive, Cordage & Netting, and Narrow & Broad Fabrics and therefore
are witnessing increased demand in India”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India High Tenacity Low Elongation Polyester Yarn Market By Denier (1000D, 2000D, Upto 750D, 3000D, 4000D,
3300D, 4400D and Others), By End User (Geotextiles, Seat Belt, Cord Strappings,
Billboard Sheets, Hoardings, Fire Hose, Others), By Region Company, Competition,
Forecast & Opportunities, 2017-2027F”, has evaluated the future
growth potential of India High Tenacity Low Elongation
Polyester Yarn Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India High Tenacity Low
Elongation Polyester Yarn Market.
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