25 March 2013 14:28 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--Global demand for synthetic fibres is growing at a steady pace, but overexpansion in the key China market could depress the markets along the textile chain, an industry source said late on Sunday.
“Polyester is steadily growing but incredibly, there is too much capacity – ignoring the actual demand growth,” said the source on the sidelines of the International Petrochemical Conference (IPC).
“Nylon 6 [global] consumption growth is roughly 3% and polyester [demand] is higher than that. In China, [the demand is] much higher,” the source said.
“Fibre demand is still growing rapidly in China due to increasing population, [and] also in south east Asia. It’s a good sign for synthetic fibre raw material business,” the source said.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
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