Polyester is now one of the most commonly used fibers in the global textile and apparel industry. The annual rate of growth in global polyester production has been over eight per cent during the last five years, well above the total fiber average of 4.9 per cent annually. Although the growth rate for global polyester market reduced to 4.8 per cent, with China slowing down to 6.5 per cent, the overall growth is still stable and strong.
By 2020, use of polyester will be significantly more than the use of cotton, cellulosic, wool and acrylic combined. Today, polyester is already the most widely used fiber in all major segments of the global textile and apparel market, with garment manufacturing, home furnishings, carpets and rugs, fibre fill, and non-woven fabrics being some of the top polyester consuming sectors.
Currently, China dominates the global market for polyester production and consumption, representing over 65 per cent of global polyester consumption. India is another big market for polyester. In India, cotton now has a 50 per cent share in the fiber market, followed by polyester, with 40 per cent. However the share of polyester is catching up quickly. The market share of polyester is expected to increase to 53 per cent by 2030, while cotton will go down to 32 per cent.