Global chemical fiber oil market is estimated to be worth US$ 1.6 billion by the end of 2023

Global chemical fiber oil market is estimated to be worth US$ 1.6 billion by the end of 2023 QYRESEARCH FOCUS ON MARKET SURVEY AND RESEARCH

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The global production of chemical fiber oil increased from 675.1 K MT in 2012 to 764.7 K MT in 2016, at a CAGR of 3.17%. In 2016, the global chemical fiber oil market is led by China. Europe is the second-largest region-wise market. At present, the major manufacturers of chemical fiber oil are concentrated in China, Europe and Japan. Transfar is the world leader, holding 19% production market share in 2016. Henglong Chemical, Takemoto, Jiangyin Chengjiang Chemical, Total, Zschimmer & Schwarz, Zhejiang Huangma, Tianjing Textile Auxiliaries and Schill & Seilacher are major players in the global market. The global chemical fiber oil market was valued at US$ 1.17 billion in 2016 and is estimated to be worth US$ 1.6 billion by the end of 2023, registering growth at a CAGR of 4.52%.

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The vast majority of polyester fiber demand now derives from Northeast Asia (69% in 2016), followed by the Indian Subcontinent (10%) and Southeast Asia (6%). In other parts of the world such as Western Europe or North America, textile producers have been forced to restructure their businesses because of the large volumes of lowcost fabrics and clothing entering their countries and their inability to compete with it. As a result, within the developed world, textile capacity rationalization or transformation has been the watchword for the past two decades. The Western European and North American share of polyester fiber consumption has declined and remained subdued, accounting for just about 8% of global demand in 2016.

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• In addition, Northeast Asia continues to be the center of the world’s nylon fiber manufacturing industry. In 2015, Asia accounted for nearly two-thirds of the world’s nylon fiber output. In the past five years, production of nylon fiber in China has increased at about 7.6% per year.

As nylon-producing regions, North America and Western Europe are expected to remain, at best, stable. Both are important nylon fiber consumers, but both regions are growing at below-average rates.

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• In short, China and India are the major chemical fiber producing countries in the world, both of which occupy more than 70% of the global chemical fiber market share. The downstream demand from China and India players has driven the continuous development of this industry. Obviously, the markets in the United States, Japan and Western Europe are already very mature. We can hardly see the potential of these markets. Although Europe and Japan are the major production areas, the share of consumption in Japan and Europe is not significant. High quality chemical fiber oil from Japan and Germany mainly exports to China, India and Southeast Asia. It is hard for German and Japanese manufacturers to occupy a larger market share due to higher prices than local manufacturers.

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In the future, QYR think the price of chemical fiber oil will rise as oil price picks up. Chemical fiber oil manufacturers will also have a small increase in sales revenue. We think manufacturers that have an advantage in both price and quality will have more markets share.

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