Global polyester staple fiber production estimated to touch 17.9 mln tons by 2018

29-Oct-13

The US$75 billion polyester industry continued to remain as an undisputed leader in the textile Industry. Year 2012 saw its market share 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, as per Research and 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 and by 2012, this has risen to 12.2 kg, implying an increase of 53% per capita use in the past three decades. Global polyester staple fiber production is estimated to touch 17.9 mln tons by 2018, as compared to 14.6 mln 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 mln ton which will be consumed by other regions in deficit. Similarly, going ahead, demand for polyester filament yarn is estimated to touch 37.5 mln ton in 2018 while supplies are likely to grow at an annual rate of 4.5% to 38 mln, thus leaving a surplus of about half a mln ton. In 2012, the US$24 bln polyester staple fibre industry saw prices declining rapidly while production capacities reached 20.5 million ton as of 1 January 2013. 90% of this addition happened in Asia alone with China as the main contributor. Production capacity of polyester filament industry expanded 4.4 mln tons in 2012, taking the total capacity to 38.7 mln tons. Asian region accounted for the entire capacity expansion and accounted for close to 94% of global capacity. Production grew 9.4% in 2012 reaching 29 mil-lion tons, just below the 11% 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 mln kgs of polyester, including 9 mln kgs of staple fibre and 21.5 mln kgs of filament.