India leads growth as Asia Pacific emerges as a major polyester yarn market

Led by India, China, Indonesia, South Korea and Taiwan, Asia-Pacific is emerging as the major market for polyester yarn. Producer of almost all types of yarn fibers, such as polyester, nylon, and acrylic, India is currently the world's second-largest polyester manufacturer. Other countries in the Asia-Pacific region have also increased investments in synthetic yarn production, fueled by rising consumer demand for affordable, durable, and versatile textiles. Additionally, growing middle-class population and changing consumer preferences in these nations have led to a higher demand for various synthetic yarn-based products, including apparel, home textiles, and industrial textiles.

In 2024, the Indian government decided to boost domestic synthetic yarn production by offering subsidies and tax incentives for setting up advanced manufacturing units, which strengthened the sector's overall competitiveness. Meanwhile, Indonesia’s ‘Making Indonesia 4.0’ roadmap targets the textile industry as one of five priority sectors for manufacturing growth.

The global synthetic yarn market is currently dominated by the Asia-Pacific region which accounts for over 80 per cent of it, with China alone holding a 70 per cent share. Growth of textile manufacturing in other countries like India, Vietnam, and Bangladesh is also contributing to the region's growth.