Undoubtedly, the automotive industry is growing substantially on an upward trajectory, and such growth projects a need for better and sustainable mobility solutions. With the swift improvement in the economic conditions of the people and their inclination toward private ownership of vehicles, the car fleet has expanded substantially over the years.
In fact, people have become increasingly conscious and particular with their choices. Such perspectives are observed primarily in the younger generation, demonstrating choice straight from the type of tire, accessory, or engine to fuels, maintenance, and performance, to what not. Such preferential behavior has further instigated the automakers to introduce vehicles with equipment & accessories as per their choices. Such dramatic growth feeding consumer requirements further propel the need for diverse raw materials, including textiles with robust properties.
Another aspect unwinding the prevailing co-dependency also includes the growth of the automotive industry influencing the widespread demand for tires like radial, hinting toward an undeniable massive tire production. To fulfill consumer needs and enhance the overall vehicle performance, raw materials like polyester, and steel, among others, are in high demand, paving the way for new textiles to expand their utilization and demand across industries.
Understanding the Concept of High Modulus Low Shrinkage Polyester Yarn
Polyester yarn is one of the most commonly chosen yarns for various commercial applications. It is a blend of alcohol & acid undergoing a chain reaction. High Modulus Low Shrinkage is another variant of polyester yarn that witnessed frequent adoption across industries backed by its diverse & unique properties. These features include higher crystallinity, extreme tear resistivity, high elasticity, and dimensional stability, among others. Because of the lesser tie molecules in these yarns, these yarns are engineered to attain low shrinkage while maintaining a good level of tenacity. In fact, HMLS are also preferred over High Tenacity (HT) yarns.
High Modulus Low Shrinkage (HMLS) Polyester Yarn materials are also gaining swift traction, especially across regions like Asia-Pacific. In fact, a recent research report reveals that the Asia-Pacific High Modulus Low Shrinkage Polyester Yarn Market is set to register a CAGR of around 9.14% during 2022-27. Although the other factors, including augmented demand for technical textiles for industries like construction or mining, back the growth of the HMLS polyester yarn market, automotive is demonstrating the dominance, among others. Let us dive deep and demystify underlying factors prompting such considerable industry growth.
How Competitive is the HMLS Yarn Market across Asia-Pacific?
With a vast consumer base, massive exports, and minimal dependency on other countries for raw materials, the Chinese industry is already dotted with production plants dealing in Industrial Polyester Yarns & is expected to witness substantial market growth in the coming years. For instance,
On the other hand, India along with other countries like Indonesia, Japan, and Thailand, is also following the footsteps of china to turn into full-fledged market players. Additionally, the active participation of the government in promoting sustained mobility via subsidies, incentives, and legal frameworks, passively influences the market growth. For instance,
What does the Future Hold for High Modulus Low Shrinkage Polyester Yarn Industry across Asia-Pacific?
Although the industry has several well-established players operating successfully across different countries throughout the region, the market is set to witness a massive inflow of new entrants in the coming years and shall observe more traction. Besides, considering all the aspects cited above, revolving around the versatility of these materials and their widespread application, the industry shall notice an up-surging demand for HMLS polyester materials and a presence of lucrative opportunities for the leading players, leading the market toward substantial growth across Asia-Pacific in the coming years.