The polyester industry expanded 9.5% in terms of value to US$33 billion and by 2% in terms of volume in 2005. During the year, global production of polyester touched 25 million to tons. While staple fibre production grew 2.6%, filaments production increased 1.5%. Polyester accounts for over 75% of all man-made fibres produced in the world. During the last 5-year period ended 2005, polyester production has increased at a rate of 5% per annum. However, the next 4-5 years would see the growth slowing down to around 4% per annum as per the latest report published by www.YarnsandFibers.com : “Polyester Chain Report 2006”
Global polyester production capacity stands at 36 million tons, comprising 15 million tons of staple fibre and 21 million tons of filament yarns. Nearly 83 of staple fibre capacity and 89% of filament capacities are in Asia. China accounts for 53% of staple fibre and 57% of filament yarn global capacity. India, Indonesia, South Korea and Taiwan are the other major producers of polyester in the world. Outside Asia, USA and Turkey are the major producers.
In terms of trade, Asia is the net exporter of polyester in the world. In polyester staple fibre segment, South Korea and Taiwan are major exporters while China and USA are major importer. Similarly, in polyester filament market, China, Mexico and Brazil are major importers while South Korea, Taiwan, Mexico, Indonesia and Malaysia are major exporting countries. In 2005, polyester industry was heavily weighed by the rise in crude oil prices which had raised prices of PTA and MEG – the raw material for polyester production.
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