Since the beginning of this year, major synthetic fiber manufacturers have announced price increases for yarn (long staple), cotton (short staple), and textiles.
On January 30th, Teijin and Teijin Frontier revised their polyester fiber sales prices. Effective February 1st, yarn and cotton prices increased by 20 yen per kilogram, and textile prices increased by 5-10%. On February 6th, Toray announced price increases for nylon and polyester yarn, cotton, and acrylic cotton. Starting with shipments in March, nylon prices will increase by 50 yen per kilogram, polyester by 30 yen, and acrylic by 20 yen. For textiles, primarily used for linings and other materials, prices will also increase by 5-7% compared to current apparel prices from April shipments.
These price increases are driven by rising raw material and utility costs. The rise in crude oil prices since last fall has led to higher prices for raw materials such as ethylene glycol (MEG), purified terephthalic acid (PTA), and acrylonitrile, which are key raw materials for synthetic fibers. In addition, the rapid depreciation of the yen since December of last year has dealt a blow to the industry. Rising utility costs, exemplified by rising electricity rates, are also putting pressure on each company's operations.

Synthetic fiber manufacturers have previously revised prices due to rising raw material prices, but this time the yen's depreciation progressed at a speed faster than expected, meaning that cost cuts, such as revisions to fixed and proportional costs, and production efficiency measures were unable to fully absorb the increased costs. With two major companies announcing price increases, it is highly likely that other synthetic fiber manufacturers will follow suit. It seems likely that fabric and apparel manufacturers will also be forced to respond in the future.