Polyester Manufacturing Witnesses Surge of Investments: China Leads The Way

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Researched by Industrial Info Resources (Sugar Land, Texas)--Majorly derived from petroleum through polymerization, polyester is a synthetic resin that finds application across various industries, especially consumer durables. According to the Textile Exchange's Materials Market Report 2023, polyester production volumes increased from 61 million tons in 2021 to 63 million tons in 2022. It continues to be the most widely produced fiber globally, making up 54% of production in 2022. Its innumerable benefits such as strength, durability and shape retention make polyester a versatile product and contribute significantly to its widespread use across the globe.

A staple in the textile industry, polyester can be made into threads or woven into fabrics. Polyester's resistance to wrinkles, moisture, stains and shrinking, along with remarkable color retention, makes it the ideal choice for casual and sports apparel.

Besides its use in the garment sector, polyester is also used in other industries. In the automotive industry, industrial polyester fibers are used in tire reinforcements and safety belts. Being used for cushioning and insulation, polyester can not only be seen in mitts and gloves but also in home furnishings such as bedsheets, comforters and upholstery paddings. It is also used to manufacture plastic bottles, containers and as a finishing agent for wooden products such as guitar or yacht floors. Other uses include spray coatings, dielectric films for capacitors, LCD displays, tarpaulin, canoes, tapes, wires, conveyor belts in industrial processes, etc.

Industrial Info is tracking 75 active capital projects worth around US$8 billion around the world that are aimed at polyester manufacturing. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can learn more by viewing by the project reports.

Asia is the biggest driver of investment, owning about 96% of the market with 64 projects valued at slightly less than US$8 billion. It is followed by North America, with an investment of more than $226 million.

China leads the way with a total spend pipeline of more than US$7 billion across 47 projects. A majority of the spending in China is geared toward the regions of Zhenjiang, Shandong and Guangdong, which have cumulative spending of more than US$6 billion. Other countries with substantial investments include the U.S. (US$226 million), Russia (US$65 million) and Turkey (US$45 million). About 46% of the investment is in the later engineering stages, 33% is already under construction, and 10% in the initial planning stages. A majority of these projects are anticipated to be completed between November 2025 and December 2026, while the rest will reach fruition by March 2028.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).