Asia Pacific High Modulus Low Shrinkage Polyester Yarn Market - Future, Scope, Trends
Asia Pacific High modulus Low Shrinkage Polyester Yarn market stood at USD671.16 million in 2021 and is expected to grow at a CAGR of 8.07% during the forecast period. Because of the elasticity and stability of High Modulus Low Shrinkage Polyester Yarn, it is utilized in the mechanical rubber goods industry to manufacture hoses, tires, cord textiles, conveyors, and v-belts. Increased demand can be ascribed to the growing population in the Asia Pacific, which is going to push the demand for vehicles and thus the demand for radial tires. Polyester Tire Cord Fabric (PTCF), PTCF is produced by High Modulus Low Shrinkage Polyester Yarn. The production count of PTCF-based tires is expected to increase in the coming years leading to an increase in the production of tires made from Polyester Tire Cord Fabric over Nylon Tire Cord Fiber (NTCF). Global demand for high modulus low shrinkage polyester yarn stood at 836.06 thousand tonnes in 2021 and that of Asia Pacific stood at 3...