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Polyester fibre is the largest produced man-made fibre and accounts for a significant share in the global fibre market. It finds major application in textile and apparel industry. Polyester production uses ethylene glycol, a by-product obtained from oil refining industry, as a primary raw material. However, it is also produced from recycled polyester and PET bottles.
The Asia Pacific is one of the largest regions in the global market for polyester fibre and is expected to witness a robust growth in the forecast period. China leads the polyester fibre production in the region, followed by India. The abundant availability of ethylene glycol, owing to the presence of large petroleum refining industry, is a key factor for China’s dominance in polyester production. Additionally, the utilisation of high pollution coal by various players such as Jiangsu Hengli Chemical Fibre Co., Ltd. and others is expected to boost the production. However, the utilisation of high pollution coal may cause environmental concern. Teijin (TSE: 3401) in 2019, started production of linen like polyester fibre for apparel application. Sinopec Yizheng Chemical Fibre by 2023 plans to boost its polyester fibre business by setting up PTA and TET Resin plants, with annual capacity of 3 million tons. Reliance Industries Limited in India started an initiative, in 2019, to produce polyester yarn form PET bottles in collaboration with Raymond Limited. Meanwhile, the India polyester market is expected to witness a considerable growth due to reduction in import duty by the government in 2019. Moreover, the growing preference for polyester produced from PET bottles or biodegradable polyester by companies such as Unifi, Inc. (NYSE: UFI), and DuPont de Nemours, Inc (NYSE: DD), among others is projected to further propel the market growth.
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The major players in the global polyester fibre market are Alpek S.A.B. de C.V., Indorama Ventures Public Company Limited, Tongkun Group Co., Ltd, Reliance Industries Limited, and Sinopec Yizheng Chemical Fibre Company Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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