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Global polyester market: $75 billion industry estimated during 2012
Polyester Chain Report 2013 - a new market research report on 2014-03-25 04:41:01
The global polyester industry continued to re-main as an undisputed leader in the textile Industry, and is forecast to be valued at $75 billion in 2012. The year saw the market share of polyester in the textile industry increase to over 80% given the continuing growth in population and consistent improvement in standards of living, particularly in emerging economies and the fast growing mass markets.Demand for textile products has been growing for years. In the early 1980s, just 8 kg of textile fibres were consumed per capita per annum, but by 2012, this has risen to 12.2 kg, implying an increase of 53% in per capita use in the past three decades. Global polyester staple fiber production is estimated to touch 17.9 million tons by 2018, as compared to 14.6 million tons in 2012. However, this will be marginally in surplus to the predicted demand in 2018. Asia, alone will have a surplus of close to 2 million ton which will be consumed by other regions in deficit. Similarly, going ahead, demand for polyester filament yarn is estimated to touch 37.5 million ton in 2018 while supplies are likely to grow at an annual rate of 4.5 per cent to 38 million, thus leaving a surplus of about half a million ton.In 2012, the US$24 billion polyester staple fibre industry saw prices declining rapidly while production capacities reached 20.5 million ton as of 1 January 2013. 90 per cent of this addition happened in Asia alone with China as the main contributor. Production capacity of polyester filament industry expanded 4.4 million tons in 2012, taking the total capacity to 38.7 million tons. Asian region accounted for the entire capacity expansion and accounted for close to 94 per cent of global capacity. Production grew 9.4 per cent in 2012 reaching 29 mil-lion tons, just below the 11 per cent growth seen in the previous year. The growth was primarily driven by Asia while West Europe, CIS and Middle East region reporting declines. Production in America appear to rebound, somewhat. China is the largest producer and consumer of polyester. It produced over 30 million kgs of polyester, including 9 million kgs of staple fibre and 21.5 million kgs of filament.
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