Global textile consumption is estimated to expand at an annual average rate of 4% and reach 87 million tons by 2020. This growth is likely to fuel the demand for textile fibres.
Demand for textile fibres is projected to reach 93 million tons, and spun yarn demand is estimated to reach 47.3 million tons by 2015. A drastic growth in the global textile trade, quota expiries, and increasing opportunities of the emerging economies would fuel the growth of textile fibres. Textile fibres are being used increasingly in many household furnishing due to their inherent performance. Synthetic fibre market is estimated to grow in the global range, and more particularly in the developing countries.
Asia Pacific comprises of the biggest market for textile materials, closely followed by Europe. Asia Pacific will continue to be the biggest market for textile fibres for the years to come. Synthetic fibres represent the biggest segment of the total textile fibre market. China is the worlds largest manufacturer and consumer of textile fibres. The country also leads in the exports of filament yarn, polyester filament yarn, polyester staple fibre, viscose, and viscose staple fibre.
Global Fibre Consumption:
During 2008, many major fibre manufacturers had to restructure, or shut down their operations to remain solvent. Consolidation of facilities and closure of less profitable units were seen in the West European countries. Capacity declined by 0.9% in US and by 2.8% for EU. Other Asian countries saw a decline of 3-4% during 2008-09. Following a 7 year decline, global demand for textile fibres has recovered after 2008, during the recovery period; past recession. Demand increased by 4% during 2009, and 5% during 2010. Increase in the fibre consumption can be attributed to a 9% increase in the consumption of cotton. During 2009, global consumption of cellulosic fibres also increased by 11%. For making woven and knitwear apparels, cellulosic, and cotton fibres prove to be good competitors with woolen fibres.