Source: Taiwantrade | Updated: 28 July 2011
Polyester fiber makes up nearly half of the world’s man-made fibers market.
Spurred by oil prices as high as USD$120 per barrel, current polyester fiber prices have jumped 60% compared to same time last year.
Yet demands for polyester fiber continued to grow.
Cotton prices have more than quadrupled to record highs within the last two years.
Such overwhelming costs sent global garment industry seeking cheaper synthetic blends, stimulating huge demands for polyester fiber.