China now accounts for 70 per cent of global production of chemical fibres. The output for 2015 represents an increase of 49 per cent from the 2010 level.
The Chinese chemical fibre industry produces synthetic fibres such as polyester, nylon and acrylics for textiles and apparel and upholstery. Imports of chemical fibre into China have remained at less than a million tons over the past five years and are negligible relative to domestic production.
China has been shoring up its entire chemical fibre supply chain. The country has substantially increased production of the raw materials that go into making chemical fibres. In 2010, 59 per cent of the industry’s raw materials were sourced from within China. That number jumped to 70 per cent in 2015.
It has also increased capacity of high performance fibres. Its bio-based fibre capacity has soared, with an average annual growth rate of more than 100 per cent.
Over the past five years, Chinese chemical fibre companies have had an annual average 3.85 per cent profit margin for bulk chemical fibres and 18.7 per cent for fibres used by the fashion industry. That has driven the enthusiasm of enterprises to develop new products and promoted industrial brand building.
