The report is divided into three parts.

The first part is the current situation of direct-spun PSF. Ms. Kong points that PSF is currently witnessing high cost, weak demand, and all-time low PSF spread and operating rate.

In the second part, she mainly introduces the changes in global community. The short-term influencing factors of the changes include: inflation, Russian-Ukrainian conflict, sharp rise and fall of PX, and the impact of COVID-19 pandemic. And the long-term factors include: supply and demand, the concentration of production capacity, and transaction patterns.

The third part is the market outlook for direct-spun PSF. Ms. Kong indicates that the annual output of PSF is expected to show a negative growth. And the alternation of PSF for spinning in 2022 may also appear in non-woven and filling after 2023.