Report says polyester’s share of fibre market will keep growing
12/12/2013
One of the authors of the report, Ashish Pujari, said on at the time of the release of the information that polyester’s main advantages are its wide availability, its cost and its performance. And he added that, unlike cotton, polyester’s biggest rival in the fibres market, “polyester fibres are not subject to weather events, pestilence or poor crop yields that restrict availability and impact costs”.
IHS says global polyester fibre demand in 2012 was around 38 million tonnes and is projected to increase “at almost twice the rate of GDP” between now and 2023. The report also points out that 90% of current polyester fibre capacity is in Asia, with China accounting for more than 65% of the total.
Capacity in North America and Europe is being further hit, the report said, by a reduction in the production of polyethylene terephthalate (PET) owing to what it called “an ongoing decline in soda, juice and sweetened beverage consumption” among consumers.
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