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Compared with 2021, polyester industry chain may face more pressure in Sep-Dec 2022.End-user plants are facing high stock pressure, as inventory in weaving plants and polyester plants is higher than past year. Meanwhile, Sep-Oct demand may not fare better than past year either. Reasons are as follow
During 2016-2021, polyester industry saw a transit from boom cycle to oversupply cycle. From 2016 to 2019, PX-naphtha spread consolidated at highs and surged in 2018. Asian PX plant operating rate fluctuated upward during the same period, rising from low point of 72% to high point of 85%. Even when
From PX to downstream end-user plants, cash flow approached breakeven line and even saw losses. Trading of the whole polyester industry chain was in stalemate, as demand remained slack.
Besides the polyester polymerization rate, the operating rate index of the polyester industry also involves the run rate of polyester filament yarn, polyester staple fiber and PET bottle chip. Confusion may appear during the tracing of the run rate: why does the operating rate of polyester filament
