Asia-Pacific Polyester Market To Grow At A CAGR Of 6.6%
Dated- 05 Jul , 2012 - Global
Asia-Pacific, led by the rapidly increasing markets of China and India, represents the largest region within the polyester market, with the region expected to demonstrate the fastest CAGR of more than 6.6%. Asian polyester manufacturers are expected to continue dominating the global polyester marketplace.
By 2017 production within the global polyester market is forecast to exceed 43 million tons. Polyester market growth is set to be driven by technological innovations, economic stability, fashion trends, demographics and income levels.
Polyester is a term often defined as “long-chain polymers chemically composed of at least 85% by weight of an ester and a dihydric alcohol and a terephthalic acid”. In other words, it means the linking of several esters within the fibres. Reaction of alcohol with carboxylic acid results in the formation of esters.
While synthetic clothing in general is perceived by many as having a less natural feel compared to fabrics woven from natural fibres (such as cotton and wool), polyester fabrics can provide specific advantages over natural fabrics, such as improved wrinkle resistance, durability and high colour retention.
The global polyester market is currently troubled by over capacity. The emergence of new technologies, attractive margins, and a high economic growth rate triggered capacity explosion in the polyester market far more than demand.