According to the report published by Allied Market Research, the global dope dyed yarn for automotive market generated $356.1 million in 2017, and is projected to reach $736.4 million by 2027, witnessing a CAGR of 7.8% from 2022 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in sales of personal & passenger vehicles, growth in consumer consciousness about vehicle safety, and enhanced customer offering drive the growth of the global dope dyed yarn for automotive market. However, batch wise production of dope dyed yarns restrains the market to some extent. On the other hand, rapid shift toward environment-friendly products and increase in automotive safety standards present new opportunities in the upcoming years.
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COVID-19 scenario:
• Several automobile manufacturing companies have either shut down or reduced their operations due to the risk of infections among the workforce where dope dyed yarn is used. This has hampered the demand for dope dyed yarn for the automotive market during the pandemic.
• Furthermore, the dope dyed yarn manufacturing industry has faced various problems related to transportation, the non-availability of a skilled workforce, and reduced export/ import orders.
• However, the market is expected to recover by the second quarter of 2022, as the overall service activities of market players have registered a steady and favorable recovery with increase in the sales of passenger cars.
The report offers detailed segmentation of the global dope dyed yarn for automotive market based on material type, denier type, application, and region.
Based on material type, the polyester segment held the highest market share in 2017, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 7.8% from 2022 to 2027. The report also analyzes the nylon segment.
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Based on application, the carpets segment held the largest market share in 2017, holding around two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 8.3% from 2022 to 2027.
Based on region, Asia-Pacific contributed the highest share in terms of revenue in 2017, holding more than half of the total market share, and is estimated to continue its dominant share by 2027. Moreover, Europe is projected to manifest the fastest CAGR of 8.3% during the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.
Leading players of the global dope dyed yarn for automotive market analyzed in the research include Acelon Chemicals & Fiber Corporation, Alok Industries Ltd, Beekaylon, European Spinning Group, Gujarat Polyfils, Jiwarajka Textile Industries, Suryaamba, and Thai polyester Co., Ltd.
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