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Global Fibres Overview
World Fibre Production Trends
- World fibre production has excellent correlation with GDP which we use as basis for projections to 2025
- Total fibre production expected to grow 3.7% per annum to 2025
- Global 2013 fibre production estimated at 85.5 million tons
- Global 2013 synthetic fibre production estimated at 55.8 million tons (i.e. excluding cotton, cellulosics and wool)
- Global synthetic fibre volume growth is 98%+ of future total fibre production increases.
- Polyester (filament and staple) makes up 95%+ of future global synthetic fibre production growth.
World Polyester Filament Production Trends
- Polyester filament growth nearly three times the average of all fibres during the last five years (7.9% vs. 3.1%)
- Global 2013 filament production just under 29 million tons (7% growth over 2012)
- Major production increases forecast for China, India and the US
- Production increase in US due to share gains in carpet industry by polyester BCF
- Production decreased in essentially all other developed countries
- Future production growth (through 2025) expected to moderate to 6% per annum (still almost twice all other fibre growth)
World Polyester Staple Production Trends
- Global polyester staple production growth during last five years 6.4%
- Production increases in 2012/13 for polyester staple production slowed significantly after above trend growth in 2010/11 due to cotton substitution
- As with polyester filament, China dominates with 65% of global production
- Future production growth 4-5% through 2025 with China and India dominating
- Limited cotton production growth through 2025 will be primary driver for polyester staple
World Polyamide Filament Production Trends
- Although production growth for polyamide fibre from 2007 to 2012 was flat, sharply higher volumes (~10%) were experienced in 2013, due to textile and industrial growth in China and improved carpet and automotive markets in the US
- Recent increases in polyamide production are expected to moderate to 1-2% per annum growth through 2025, despite 5% growth expected in China
- Future growth limited by additional polyester substitution expected in carpet and some industrial applications including side air-curtains
World Acrylic Fibre Production Trends
- Global acrylic fibre production has fallen 30% since its high point in 2004 • Production in 2013 (slightly under 2 million tons) was flat compared with 2012
- Acrylic fibre costs continue to suffer from propylene availability and high acrylonitrile conversion costs
- Despite a sharp fall in production over the past 10 years, more modest declines of 1-2% are forecast due to weak supplies of wool and cotton and continuing technical advantages for acrylic fibre in certain markets