US net imports of textile and apparel fiber products increased for a third consecutive calendar year in 2015 to the highest on record, reaching 15.7 billion pounds (raw fiber equivalent), compared with 14.5 billion pounds in 2014.

US net imports consist mostly of cotton and manmade fiber products as demand for linen, wool, and silk products remains relatively small. With manmade fiber imports expanding steadily in recent years, cotton’s share has declined consistently.

In 2015, cotton textile and apparel products accounted for 44 per cent of total imports while manmade fibers contributed nearly 49 per cent. By comparison, in 2007, cotton accounted for 56 per cent of all textile and apparel imports while the share of manmade fibers was 37 per cent.

Cotton is clearly losing the battle to manmade fibers. After years of demand erosion, cotton has lost its top spot to synthetic competitors. Yarn mills have switched spindles to polyester and its cohorts due to years of high cotton prices and improving synthetic technology.

Falling polyester prices have complicated the hope that lower cotton prices will renew demand. Polyester prices are also down, partially in sympathy with their cotton competitor and partially due to the freefalling price of oil, a key raw material.