Global demand for polyester yarns has grown steadily since 1980, according to PCI WoodMackenzie data reported by UNIFI.
In 2003, polyester replaced cotton as the fiber with the largest percentage of global fiber sales.
Then, in 2018, global polyester consumption accounted for an estimated 56% of global fiber consumption, and global demand was projected to increase by approximately 3.0 to 3.5% annually through calendar 2025.
At the same time, in 2018, global nylon consumption accounted for an estimated 5% of global fiber consumption.
In addition, according to UNIFI, due to the higher cost of nylon, the industry may transition certain products from nylon to polyester.
The polyester and nylon fiber sectors together accounted for approximately 61% of North American textile consumption during calendar 2018.
UNIFI estimates that these calendar 2018 trends remained similar or identical during 2019.
The Covid-19 pandemic negatively impacted the textile industry during 2020, but the company believes the share of polyester and nylon consumption has remained generally unchanged.
Polyester yarns
UNIFI operates in the textile industry and, within that broad category, in the respective markets for yarns, fabrics, fibers and end-use products, such as apparel and hosiery, automotive, industrial products and home furnishings, among others.
The textile industry operates globally. However, regional and geographic markets significantly influence business strategies and operations.
In particular, free trade agreements and U.S. trade regulations play a key role. These policies integrate the U.S. textile industry with markets in North, South, and Central America, even though the U.S. remains a distinct market.
According to the National Council of Textile Organizations, the U.S. textile and apparel industry reported shipments of approximately $65.2 billion in 2021. Moreover, the industry exported nearly $28.4 billion in textile and apparel products during the same year.
The adoption of the U.S.-Mexico-U.S.-Canada Agreement (USMCA) by the United States in calendar 2020 did not have a significant impact on textile and apparel trade in the region.
The USMCA has implemented strong rules of origin, closing several loopholes present in NAFTA. These loopholes previously allowed for non-originating inputs like sewing thread, pockets, and narrow elastic fabrics.