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Mitsubishi Chemical's polyester fiber raw material production has been significantly reduced

due to the rising cost of high oil prices, the deterioration of profitability, and the decline in market demand in the United States and Europe, Japanese material giant Mitsubishi Chemical Company recently announced that it would significantly reduce the production of polyester fiber raw materials in its four factories around the world. According to the report, the factories to be cut include Mitsubishi Chemical's domestic factories in Japan and factories in China, South Korea and Indonesia. Among its five factories in total, only those located in India are not among the production cuts because of the strong domestic demand in India

it is reported that the polyester fiber raw material to be cut this time is mainly purified terephthalic acid, which is used to make clothing materials. The Mitsubishi Chemical Plant in Ningbo has cut production by 20% to 30% since the end of April. Although the demand for petrochemical products is expanding worldwide, in some products, due to the greater pressure on profits, not only can such materials not be reused, but also few manufacturers have begun to adjust their production. Mitsui chemical, another Japanese material giant that has previously reduced the production of polyester fiber raw materials, also decided to continue to expand the scale of production reduction

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