Group 1: Polyester Fiber Market Overview - Polyester fiber is the most widely used synthetic fiber, expected to reach a global production of 79 million tons in 2024, accounting for 58% of the entire fiber market [1] - The compound annual growth rate (CAGR) for polyester fiber from 2010 to 2030 is projected to be 5.1%, driven by its durability and cost-effectiveness [1] - Polyester prices remain stable due to abundant supply, primarily influenced by the price of purified terephthalic acid [1] Group 2: Regional Demand and Growth Projections - Asia will continue to dominate global polyester demand, accounting for 86% in 2024, projected to rise to approximately 89% by 2034 [2] - China's polyester demand is expected to grow from 56 million tons in 2024 to 85 million tons by 2034, while South Asia's demand will increase from 7 million tons to 13 million tons in the same period [2] - Despite potential trade tensions between the U.S. and China affecting 2025 demand, long-term fiber consumption growth is anticipated to continue [2] Group 3: Styrene Demand in South Asia - South Asia is becoming a key player in driving global styrene demand, with significant imports from East Asia [3] - The region's average annual import growth rate for styrene from 2019 to 2024 is projected to be 5.3%, making it the largest styrene importing region by 2022 [3] - By 2030, South Asia's styrene imports are expected to reach approximately 1.5 million tons, driven by strong economic growth [3] Group 4: Competitive Landscape in Styrene Market - The competition in the South Asian styrene market is intensifying, with exporters from various regions, including the Middle East and the U.S., vying for market share [4] - China's role in the styrene market is changing, impacting the global landscape, while India is expected to emerge as a significant consumption center [4]