In FY24, India’s Polyester Yarn Industry Is Expected to Recover Profitably
India’s polyester yarn industry is projected to experience a recovery in profitability during FY24, following a period of volatility driven by global supply chain disruptions and fluctuating raw material prices. With the easing of these challenges and the anticipated stabilization of polyester prices, the industry is poised to see a resurgence in both demand and profitability.
Key factors contributing to this positive outlook include a strong domestic demand, driven by the growth of India’s textile and apparel sectors, and increased export opportunities, particularly in the global garment market. Additionally, India’s positioning as a leading manufacturer of synthetic fibers, especially polyester, offers a competitive advantage in the international market.
The recovery is also supported by improvements in manufacturing efficiency, innovations in polyester yarn production, and greater emphasis on sustainable practices, which are becoming more crucial in meeting the growing demand for eco-friendly textiles. As a result, India’s polyester yarn industry is expected to not only recover but also enhance its global competitiveness, strengthening its role in the synthetic fiber market.
