The Rise of the Polyester Market and What It Means for Textile and Apparel Importers
Polyester is a staple fiber in the fiber and garment sectors. Not only are they used for apparel and textiles but they are also found in the use of protective and medical gear.
Polyester Staple Fiber Market is forecast to reach $24.5 billion by 2026, after growing at a CAGR of 6.1% during 2021-2026. Polyester is a synthetic polymer produced from purified terephthalic acid (PTA) or its dimethyl ester terephthalate (DMT) and monoethylene glycol (MEG). Globally, rising demand for apparel, increasing automotive industry, increasing government initiative, and increasing construction activities in various regions, are the prime growth drivers of the global polyester staple fiber market. Furthermore, new opportunities will be created for the global polyester staple fiber market, owing to the increasing popularity of bio-based polyester staple fibers, and increasing adoption of polyester staple fibers for application in newer industrial verticals
TFO Canada is pleased to announce that we will be featuring export offers from our beneficiary countries along with information on partner Trade Support Institutions (TSIs) to support you in your search for new international markets. This month our feature is an export offer is from Ghana in partnership with The Ghana Export Promotion Authority (GEPA).
The Ghana Export Promotion Authority (GEPA) develops and promotes exports of Ghanaian entrepreneurs. The award-winning agency works with local and international partners to link exporters to buyers through training, market research, trade fairs and personal advisory services.
As the National Export Trade Support Institution of the Ministry of Trade and Industry, GEPA brings the concerns of businesses to policymakers, and brings the stories of entrepreneurs to a wider public. In doing so, it helps Ghana diversify from traditional exports into sectors such as agribusiness, industrial arts and crafts, professional services and processed products.
Ghana Export Promotion Authority was tasked to lead the formulation of the National Export Development Strategy, working in partnership with over one hundred representatives drawn from organized private sector and key stakeholders in the public sector.
The Strategy rests on three Pillars:
Pillar I – To expand and diversify the supply base for value added industrial export products and services.
Pillar II – To improve the business, regulatory environment for export.
Pillar III – To build and expand the required human capital for industrial export development and marketing.
These Pillars are designed to work interdependently, supporting one another to achieve the NEDS objective.
The strategy’s main objective is to reap the full benefits of Ghana’s industrial export potential and related job and income creation opportunities nationwide.