Nylon production has developed into a niche market where manufacturers focus on a limited number of end uses in products like airbags, heavy-duty tires, sheer hosiery, and swimwear. Despite its limited uses, nylon production has had a major stake in large markets in recent years. For instance, carpet production accounts for 17.5% of global nylon usage, and consumes 72% of the nylon produced in North America. However, another product is beginning to make inroads into the nylon market share – that product is polyester.
According to a Textile World report, use of polyester in carpets and air bags has increased remarkably in recent years, and the overall U.S. composite materials industry is forecasted to grow at 5.4% in 2016. Industrial Process Plants and Equipment (IPPE) buys and sells complete chemical processing plants, helping buyers to get the best deal on equipment possible, while eliminating time-consuming hassles for sellers. Part of IPPE’s success is dependent on our ability to keep a thumb on the pulse of the chemical process market, and this year, polyester is a trend that cannot be ignored.
Not only is polyester growing, by steadily gaining ground on nylon applications, but also through infrastructure spending in developing countries, which is expected to drive the polyester market for the next six years according to Transparency Market Research (TMR). Sub-Saharan Africa’s regional economy is expected to grow up to 5.5% this year, representing an opportunity for expansion in the polyester coatings market.
The International Monetary Fund (IMF) has stated that several countries in Sub-Saharan Africa, are now poised to benefit greatly from economic growth underpinned by their investments in infrastructure and mining. For example, Kenya, Tanzania, Uganda, and Rwanda have all recently increased national budgets for new infrastructure projects. Securities like Kenya’s $2 Billion Eurobond will ensure that many of the projects, which are planned or currently underway to reach completion. Experts contend that this growth will inevitably increase local demand for polyester coating solutions. The time to invest in polyesters, is now.
Currently, China leads the global polyester market with claim to 60% of all global polyester fiber production. The combined production of China, India, and Southeast Asia represent a full 86% of global polyester production. It’s about time that the American manufacturing sector stake its claim in the global polyester market, especially as demand for polyester increases. IPPE is here to help make it happen. Whether you are buying or selling a plant, IPPE welcomes the opportunity to serve you. With over 30 years of experience and an inventory of over 70 available process plants, IPPE has the tools you need to make expanding or downsizing your plant an economically viable option.
Visit IPPE today to learn more about our comprehensive chemical plant offerings –a share of the growing polyester market could be yours!