Abstract
The global polyester industry has witnessed a significant shift in production
capacity from North America and Europe to the Asian countries. China has taken
the lead, followed by India, Taiwan and South Korea. China accounts for about
forty percent of the worldwide polyester production. Domestic consumers are a
key driver of the surge in polyester production in China. Polyester demand in
India is also growing rapidly due to rising disposable income across the
country.
Due to rapid capacity addition in China, a key trend of Asian polyester market
has been oversupply since 2000. Apart from oversupply, polyester producers
feel threatened by rising feedstock costs (PTA & EG) which have resulted in
diminishing profits margins and pricing power. The market has also witnessed
some consolidation in Asia. Reliance Industries' (India) acquisition of Hualon
Corp. (Malaysia) has increased its global market share in polyester fiber and
yarn to more than seven percent.
The report profiles the polyester market in Asia. It begins with a discussion
of the worldwide polyester market and then goes on to analyze the major Asian
markets - China and India. Apart from analyzing the key trends prevalent in
the market, the report also profiles the major polyester producers.
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