The global polyester industry has experienced significant growth over the last two decades, primarily as a result of the progressive increase in polyester’s market share compared to other synthetic and natural materials, increased economic growth, technological advances and new applications. The majority of global polyester capacity and production are staple fiber and filament yarn. World staple fiber and filament yarn production grew at an estimated compound annual rate of 5.5% and 9.5% respectively, between 1990 and 2002, and preliminary estimates indicate annual growth of approximately 7.0% and 7.4% till 2010 respectively. Due to its relatively low production cost and versatile physical characteristics compared to certain other synthetic materials, polyester is gaining wide acceptance in a variety of textile and non-textile applications, including apparel, packaging, household products, such as upholstery and carpeting, and industrial uses, such as geotextiles and seat belts. Relatively new applications for polyester resins like packaging resins represent the most rapid segment of growth in the overall polyester market. In 2002, polyester accounted for about 67% of all synthetic fiber production.

Polyester micro fibers have shown significant growth potential due to their similarity in texture and breathability compared with natural fibers such as fine cotton and silk, resulting in increased customer acceptance of polyester microfibers in apparel. Demand for polyester fiber has historically been correlated with the growth in supply and has been affected by economic and population growth as well as the price and availability of substitute fibers, primarily cotton. The two major raw materials for polyester are PTA and MEG, both derived from petrochemical feedstock like PX and ethylene. PX is an ancillary product of the reforming of naphtha for gasoline blend stocks.