The “World Fibre & South Korea – Trends in Demand and Supply” is the Fifth compendium from Yarn-sandFibers covering the trends in global demand and supply of textile fibre/filament industry.
In this Report we have assesses the impact of the Global Slowdown on textile fibre/filament industry including natural fibres, particularly cotton, and how each country performed in this scenario. The analysis assesses the positions of fibres/filaments industry as events unfolded. The evolution of Global Slowdown and its spread across the world has been critically documented in perspective of textile in-dustry. The demand crunch began in mid-2008 and continued into 2009. Also documented are the approaches of developed countries and the stimulus packages announced by various governments.
South Korea ranked eighth in terms of fibre/filament production in 2008 and was ninth largest consumer. It was fourth largest producer of polyester filament yarn and fifth largest in nylon and polyester staple. During the year, it produced 1.33 million tons of manmade fibre/filament accounting for 2.1% of global supplies.
Consumption wise, South Korea consumed 1.13 million tons of fibre/filaments including cotton in 2008. It was third largest polyester filament consumer and fourth largest in nylon. It is distinct eighth and ninth largest consumer of VFY and VSF respectively.
Manmade fibre/filament production in South Korea declined 7.7% in 2008 with all major fibre type recording significant downfall. PSF production was down 11% while ASF output fell 17%. Nylon pro-duction was down 9% and that of PFY decreased 4%. However, these declines were in line with the trend between 2000 and 2007. Not only production capacities too declined in similar proportions. Thus South Korea, which largely depended on China for export market, this declines are explicable since China’s domestic capacity built-up has been ramping up rapidly substituting imports to a great extent.