High Modulus Low Shrink (HMLS) Polyester is one of the prominent textile yarns used extensively across different industries & is also gaining swift adoption in the production of radial tires as a fundamental textile reinforcement. As a material, HMLS polyester yarn is remarkably tear-resistant and is more crystalline than its high-tenacity counterparts.
This material also possesses high elastic, temperature, & dimensional stability, which makes it many versatile materials demonstrating adoption in hoses, automotive tires, cord fabrics, conveyors, & v-belts, among others. In fact, these yarns also act as a benchmark for measuring & judging the performance & price of other specialist tire yarns.
The Asia-Pacific High Modulus Low Shrinkage Polyester Yarn Market is projected to grow at a CAGR of around 9.14% during the forecast period, i.e., 2022-27. The market is swiftly driven by the rapidly growing demand for HMLS polyester yarn from the technical textile industry to manufacturing various parts across the automotive, construction, & mining industries. Additionally, the mechanical rubber goods industry exhibits a widespread adoption of HMLS polyester yarn owing to high elasticity & stability in manufacturing cord textiles, tires, hoses, conveyors, and v-belts.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Country Covered||China, Japan, India, South Korea, Thailand, Vietnam, Singapore, Indonesia, Australia & New Zealand, Rest of Asia-Pacific|
|Key Companies Profiled||Zhejiang Guxiadano Polyester Dope Dyed Yarn Co. Limited, SRF Limited, Reliance Industries Limited, Shinkong Synthetic Fibers Corporation, Hyosung Advanced Materials Corporation, Hengli Group, PT INDO KORDSA Tbk, Shinkong Synthetic Fibers Corporation, United Raw Material Pte. Limited, Indorama Ventures Limited, Others|
|Unit Denominations||USD Million/Billion|
Because of such unique properties, this polyester yarn provides better durability to heat & chemicals and further improves the dimensional stability of the fabric. Hence, the utilization of these yarns is widening & exemplifying an escalation in demand, thereby positively influencing the industry growth. Besides, other prominent factors backing the market growth attributed to the increasing product count of Polyester Tire Cord Fabric (PTCF) obtained from HMLS polyester yarn.
In Addition, the widespread government initiative for the infrastructural development of the mining sector projects the need for sector-specific technical textile products. It, in turn, is generating growth opportunities for the leading players to increase their production & distribution capacities and meet the mounting requirements, accelerating the overall market growth through 2027.
Moreover, the continuous upsurge in privately owned vehicles with a high requirement for radial Tires also demonstrates a direct influence on the need for HMLS polyester yarn to produce these tires. Hence, the expansive automotive industry is likely to remain a prominent sector exploding the need for these yarns across locations and contributing to the industry expansion.