According to TechSci Research report, “India High Modulus Low Shrinkage Polyester Yarn Market –By Region, Competition, Forecast and Opportunities, 2018-2028”, India high modulus low shrinkage polyester yarn market stood at USD58.23 million in 2022 and is projected to grow at a CAGR of 10.07% in the forecast period. In the next five years, the demand for high modulus low shrinkage polyester yarn in the automotive and transportation industries will be the main driver of growth in the Asia-Pacific region. High modulus low shrinkage polyester yarn is used in the automobile business to make car tire cord fabrics, conveyors, and V-belts, among other things. Few Indian firms now make high modulus low shrinkage polyester yarn but establishing a production-linked incentive plan and anti-dumping tariff (5% to 16.90%) on all imported yarns has boosted the industry. Large automotive clusters have emerged in cities such as Gurugram and Faridabad in the North, Chennai, Bengaluru, and Hosur in the south, and Pune and Ahmedabad in the west, attracting the interest of automakers. High modulus low shrinkage is used in the mechanical rubber goods industry to make hoses, tires cord, conveyors, and v-belts because of its unique features (increased elasticity and dimensional stability). The minimal shrinkage is advantageous because the rubber does not shrink when vulcanized and exposed to heat, reducing the total size of the final product. Volatility in raw material prices and fluctuations in oil prices are the key factors that will hamper the growth of the high modulus low shrinkage 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 33 market data Figures spread through 95 Pages and an in-depth TOC on “ India Pacific High Tenacity Low Elongation Polyester Yarn Market “
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India high modulus low shrinkage polyester yarn market is segmented into based on denier, end user, type, region, and company. Based on the end use industry, the market is segmented into tire cords, conveyors, hoses, V-belts and others. Tire Cords led the market with a market share of 60.27% in 2022. The entry of new market players and huge untapped potential in developing countries is expected to create lucrative growth opportunities for the automotive industry in the forecast period, hence contributing to the segmental growth.
Based on region, West region dominated the market in 2022 with an overall share of 47.92% on account of widespread use and adoption of India high modulus low shrinkage polyester yarn.
Major market players operating in the India high modulus low shrinkage polyester yarn market are:
- Zhejiang Guxiadano Polyester Dope Dyed Yarn Co. Limited
- SRF Limited
- Reliance Industries Limited
- Hyosung Advanced Materials Corporation
- Shinkong Synthetic Fibers Corporation
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“Polypropylene and nylon waste recycling have expanded in recent years, but polyester recycling is the most developed and cost-effective of all these methods. Many end-use industries, such as carpet, rope, and hoses, employ recycled polyester yarn, primarily used to make high modulus low shrinkage polyester yarn. “As a result, polyester yarn with a high modulus low shrinkage is environmentally friendly, as it satisfies consumer demand for “green” items.”. As the country remains one of the world’s largest automobile markets, demand for high modulus low shrinkage polyester yarn in India is expected to grow even more in the forthcoming years, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India High Modulus Low Shrinkage Polyester Yarn Market – By Denier (1000D 320F, 1300D 432F, 1500D 480F, 1000D 192F, 2000D 480F, 2200D 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 Region, Competition, Opportunity, and Forecast, 2018-2028”, has evaluated the future growth potential high modulus low shrinkage polyester yarn 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 modulus low shrinkage polyester yarn market.
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