Global Polyester Market to Reach 39.3 Million Tons by 2015, According to a New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on polyester markets. The global market for polyester is forecast to reach 39.3 million tons by the year 2015. Growing polyester consumption in Asian countries such as China is expected to fuel the market growth. The low-cost and easy-care characteristics of polyester are expected to continue attracting consumers in various end-use sectors including apparel and furnishings.

Polyester: A Global Strategic Business Report

Worldwide economic turmoil negatively affected the global polyester fiber and yarn industry. The market witnessed a noticeable drop in demand during the year 2008 across various segments including textiles and apparel. Reduction in consumers’ discretionary income as well as retail spending led to lowered demand for polyester. In addition, contraction in production as well as consumption of polymers at global level further hampered the market prospects during the period. The market scenario remained volatile in 2009 as well as 2010 due to significant increase in raw material and fuel prices, and fluctuating demand for polymers. In the ensuing years, growing polyester consumption in Asia-Pacific countries such as China is expected to predominantly drive the market growth. In addition, the low-cost and easy-care characteristics of polyester are poised to continue attracting consumers in various end-use sectors including apparel and furnishings.

The US and Europe dominated the global polyester marketplace once. The scenario changed dramatically during the past two decades with production base shifting to Asia-Pacific. Today, Asia-Pacific has become a strategic location for polyester manufacturing with the presence of an extensive textile industry and cheap labor force. Countries such as China, Taiwan, South Korea, India, and Indonesia witnessed tremendous growth in the last few years.

Asia-Pacific represents the largest as well as fastest growing regional market for polyester worldwide, as stated by the new market research report on Polyester. A large portion of the Asia-Pacific demand for polyester originates from China. Currently, China, with a huge installed capacity base, accounts for a lion’s share of the world polyester market. The global focus would continue to be on the Chinese market as numerous large-scale expansion projects in industrial yarn and textile markets are likely to come on-stream in the region in the near-term. Asia-Pacific is poised to demonstrate the fastest CAGR of more than 6.0% over the analysis period. In terms of products, filament yarn constitutes the largest as well as fastest growing polyester product segment. Filament yarn is projected to demonstrate a CAGR of more than 5.0% over the analysis period. Filament yarn is longer with a more silk-like texture as compared to staple fiber and is used in several industrial applications such as automotive tire cords, seat belts, and ropes. On the other hand, staple fibers are used in the textile industry as they blend easily with other fibers or yarns.

Polyester plants worldwide primarily rely on continuous production systems. In recent times, newer plants are being designed with advanced four-reactor construction in place of conventional five-reactor construction so as to make the plant more economically profitable. In addition, a large number of polyester manufacturers in countries such as China, Taiwan, and other Asian countries are seen integrating backwards into fiber production. Factors including increasing demand for polyester textiles in the region and producers’ desire for better control over feedstock are encouraging the manufacturers to focus on backward integration.

Major players profiled in the report include AOC, Ashland Performance Chemicals, DAK Americas LLC, Diolen Industrial Fibers BV, E. I. Du Pont de Nemours and Company, Far Eastern Industrial (Shanghai) Co. Ltd., Hyosung, Invista, Kolon Industries Inc., Kordsa Global, Mitsubishi Chemical Corporation, Nan Ya Plastics Corporation, Performance Fibers Inc., Reichhold Inc., Reliance Industries Limited, Teijin Limited, Toray Industries Inc., Wellman Inc., Zhejiang GuXianDao Industrial Fiber Co. Ltd, among others.

The research report titled “Polyester: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the polyester markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for polyester market for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments analyzed include Polyester Filament Yarn and Polyester Staple Fiber. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Polyester_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website

Media