As noted by CIRFS, the European Man-Made Fibres Association, there were 66,000 tons of polyester produced in 2014 and China now accounts for 73% of global capacity, but at present is manufacturing at 25% over-capacity.
While this may anger the industries of other trading blocks, it is hardly a situation China’s government is happy about either, and attempts are being made to restrict investments in further capacities until a degree of readjustment has been achieved.
Rather than just wait for this to happen, efforts are also being made to find new end-uses for the country’s excess polyester capacities and the most obvious one would be as a substitute for cotton, which at times is in short supply in Asia.
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