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Polyester filament capacity in China exceeds world’s mill demand

YarnsandFibers News Bureau 2014-03-27 00:00:00 – Mumbai

According the latest publication of PCI Fibres "Green Book", China's polyester filament capacity in is now more than global mill demand, which implies that the imbalance will continue for another 10 years unless a large number of units are shut. The capacity at 31.3 million tons exceeds global mill consumption which is at 29.7 million tons.

In 2013, global consumption of polyester filament was up 6 per cent on the previous year and the same growth rate is also expected for 2014. During the same year, China's polyester filament capacity rose 17 per cent in 2013 with a further 8 per cent expected in 2014. For 2013, China's capacity was 5 per cent above global mill consumption in polyester filament. In 2015, it is expected to be 12 per cent above, with the position moderating from then on as investors see diminishing returns.

The report also indicates that China will take a lead in nylon filament also with its capacity growing more rapidly than global consumption. It is forecast to account for 70 per cent of world nylon filament demand in the next two years, unless there is some moderation of capacity.

According to the report latest analysis, mill consumption of all fibres, natural and manmade but excluding melt-blown products, was 83.4million tons in 2013, up 4% on the previous year. Another rise of 4 per cent will take the consumption to 86.8 million tons in 2014. Of this, absorbent fibres like wool, cotton and cellulosic, including viscose and lyocell, will have a share of about 35 per cent; a share that will be maintained into the mid-term.

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