The market is classified based on type into natural polymers and synthetic polymers. Synthetic polymers are further segmented into Nylon, Polyester, Acrylic, Polyurethane, Polyethylene, and others.Polyester is a kind of polymer with some specific materials. It is often defined as a long chain of polymers with a composition of 85% ester with dihydric alcohol and terephthalic acid.It is a type of Polyethylene terephthalate used for any fabric or textile and made using polyester yarns and fiber.Increasing industries of textiles, industrial fabrics, and carpet are driving the demand in this region.
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Market Dynamics
Increasing industries of textiles, industrial fabrics, and carpet especially in the countries like China and India is driving the demand for textile polymers in this region.Indian textile industry is one of the most ancient industries in the world, dating back to several centuries.The industry is extremely varied, with hand-spun and hand-woven textiles sectors at one end of the spectrum, while the capital-intensive sophisticated mill's sector is on the other end.
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Segment Analysis
Among all synthetic polymers, polyester is widely used in the textile industry which has a huge market share (more than 50%) compared to other commercially used fibers.The fabric is widely used in various applications and is very much in demand in markets. This fabric has various qualities due to those it is so popular like wrinkle resistance and springing back into its smooth shape.The polyester fabric can also be mixed with other fabrics to make a strong and durable fabric or to achieve any other motive
Competitive Landscape
In August 2020, of clothing fabric were produced in China. Monthly textile production volume was consistently above three billion meters throughout 2019 and the first half China’s recent growth momentum is tightly linked to massive local engagement of the international clothing industry. Due to comparably low labor costs,reduced commercial barriers and better information flow, China still presents one of the most attractive destinations for clothing manufacturing.
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