The global polyester market is expected to achieve levels of 39.3 million tons by 2015, according to a new report available on companiesandmarkets.com. Growth in the use of polyester in Asian countries, particularly in China is predicted to drive market expansion.
Asia-Pacific represents the largest as well as fastest growing regional polyester market. A large portion of the Asia-Pacific demand for polyester originates from China. Currently, China, with a huge installed capacity base, accounts for the majority of the world polyester market.
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.
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 polyester market report include AOC, Ashland Performance Chemicals, DAK Americas LLC, Diolen Industrial Fibers, Du Pont, Far Eastern Industrial, Hyosung, Invista, Kolon Industries, Kordsa Global, Mitsubishi Chemical Corporation, Nan Ya Plastics Corporation, Performance Fibers, Reichhold, Reliance Industries, Teijin, Toray, Wellman, Zhejiang GuXianDao Industrial Fiber among others.
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