Table of Contents
This “Polyester Chain Report: 2014” contains more than 192 pages packed with up-to-date ‘not easy to find’ statistics and objective analysis of the trends and recent development of the polyester Industry. It covers the entire polyester value chain beginning from feedstock ethylene and paraxylene further to intermediate – PTA & MEG, and down to polyester fibre and filaments. The Report presents tabulation and graphical presentation of trends in demand and supply of polyester chain re-gion-wise and country-wise from 2008 to 2013.
The most important aspect of this report is the long term forecast on capacity, pro-duction, apparent consumption and the likely surplus/deficit that would arise be-tween 2014 through 2019 for the entire chain including ethylene, paraxylene, mono ethylene glycol, purified terephthalic acid, polyester fibre and polyester filament.
The key feature of this report is the analysis of price drivers of the polyester chain. This is an important element in a fast changing chemical fibre industry topped by the volatile crude oil markets and fluctuating currencies. Upheavals in Middle East also underpin the changes in crude oil market, thus exerting pressure in the polyester chain on either side.
Some of the additional features of this report are the brief description of processes used in the industry, latest process, change in usage of feedstock or raw material, end use and derivatives along with the complete listing of producers with their plant locations and capacity.
Global ethylene capacity grew at a faster rate in 2013 with Global capacities rouching 154 million tons as of 1 January, 2014. The year saw over 4.2 million tons of capacity addition. Of this 3.4 million tons were added in Asian region. The expansion was just 1 million ton in North America while it was flat in Middle East, East Europe and CIS regions.
In Asia, China, Singapore and Taiwan have added ethylene capacity. Asia to the tune of 1.77 million tons, 1 million ton and 0.6 million ton, respectively. About 0.83 million ton was added in USA, taking the total capacity in North Americas to over 34 million ton.
Global consumption of MEG jumped 6.3% to 24.3 million tons with Asia absorbing more than 70% of global supplies. China was the largest consumer of ethylene glycol in the world, the import dependence at 70%.
Growth in polyester industry over the next six years upto 2019 is forecast inch up from the trend seen in the previous six years (from 2008 to 2013). Net capacity addition between 2014 and 2019 is predicted at 5.4 million ton, taking the outstanding capacity to 27.5 million tons by 2019. This implies an annual growth rate of around 3.7%. as against 4.5% per annum between 2008 and 2013.
Global polyester staple fiber production is estimated to touch 18.7 million tons by 2019, as compared to 15.4 million tons in 2013. However, this will be in deficit to the predicted de-mand in 2019 as most regional demand will exceed production, excepting Asia. Asia will have a surplus of close to 1.5 million ton which will be consumed by other regions in deficit.
According to YnFx, the fastest PSF consuming region with substantial volume in the next six years upto 2019 will be Asia at 4.1% per annum, with demand at 14.5 million tons, dominat-ing the global PSF market, but compared to the demand growth in the past 6 years, going ahead will be significantly slower.
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