Mr Igor Sabaev, Senior VP of JSC "POLYESTER PLANT IVANOVO" noted in his speech at the 14th international conference "PET 2018" that that the world production of polyester fibers in 2017 reached almost 17 million tons. The annual conference was organized by INVENTRA
Over the past 10 years, the volume of world trade has increased by 30%, while the share of polyester fiber currently exceeds 50% of the world trade in all types of fibers. World trade of polyester fibers in 2016 amounted to 3.4 million tons.
Despite the concentration of fiber production in China (about 11 million tons), polyester fibers are imported to this country in the amount of 121 thousand tons per year, which is comparable to the Russian fibers import equal to 118 thousand tons in 2016. Export of Chinese fibers does not exceed 10% of its own production. Basically, polyester fibers and yarns in China are used for further processing and production of polyester products (fabrics, garments, clothes and finished goods) for domestic needs (taking into account the population size) and export of products with high added value. Nevertheless, for the Asian region, the problem of the high cost of manufactured fibers has reached the stage where the rationalization of production is the only solution, even to the halt of many high-cost plants which are using not up-to-date fiber production technologies and equipment with a unit capacity of less than 100 tons / day.
Domestic market of polyester fibers annually grows by about 10% and consumption volume has increased to 197 thousand tons in 2017. Today, the growing demand for polyester fibers is provided mainly through imports (with the share more than 60%). This, according to Igor Sabayev, formed the basis of a number of state programs and strategies for import substitution of synthetic fibers and threads and localization of domestic production of the downstream redistribution (technical textiles).
Speaking about the implementation of the project for the construction of the synthetic fiber plant in the Ivanovo region, Igor Sabaev noted that Vnesheconombank is currently carrying out a procedure for updating the project using new VEB 2.0 approaches and taking a decision to adjust the terms of the project financing. This adjustment is taking place also in connection with the replacement of a key participant and the approval of UNIS, a. s., Czech Republic, as a general contractor and postponement of the project due to this replacement.