Synthetic fibres now dominate the global textile and clothing industries, both as 100 per cent synthetic, or in majority blends with natural fibres like cotton or regenerated fibres like viscose. However both the synthetic-fibre industry and the synthetic-dyestuffs industry, which provides the wide colour gamut now available, are dependant upon basic organic chemicals and intermediates derived from petroleum. With the price of oil having risen by 30 per cent since the beginning of 2005 and currently trading just below US$60 per barrel, the price rises that have already been factored in will not sustain future profitability. Thus synthetic-fibre and synthetic-dyestuffs prices are set to rise all-round and Ciba Specialty Chemicals has recently announced selected price increases of up to 10 per cent in Europe, Middle East and Africa.
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