In the first half of 2024, the complexity and severity of the external environment uncertainty rose significantly, structural adjustment continues to deepen and other new challenges, but the macro policy effects continue to release, external demand has warmed up, the accelerated development of the new quality of productive forces, and other factors have also formed a new support. China’s industrial textiles industry market demand in general rebound, the industry’s industrial added value growth rate since the beginning of 2023 back to the upward channel, but part of the application of the uncertainty of demand and various types of potential risks affecting the industry’s current development and expectations for the future. According to the Association’s research, China’s industrial textiles industry boom index in the first half of 2024 was 67.1, compared with the same period in 2023 (51.7), a significant recovery
Translated with DeepL.com (free version)
According to the association’s research on member enterprises, the market demand of the technical textiles industry recovered significantly in the first half of 2024, with domestic and international order indexes reaching 57.5 and 69.4 respectively, compared with the same period of 2023 (37.8 and 46.1), which rebounded significantly (Figure 2).
According to China Customs data, the export value of China’s technical textiles industry (customs 8-digit HS code statistics) in January-June 2024 was 20.59 billion U.S. dollars, a year-on-year increase of 3.3%, reversing the situation of declining exports of the technical textiles industry since 2021, but with a weaker momentum of growth; the industry’s import value (customs 8-digit HS code statistics) was 2.46 billion U.S. dollars, a year-on-year Down 5.2%, the rate of decline has been narrowed
In the first half of 2024, China’s industrial textiles industry’s key products) exports to major markets have maintained a high growth rate, such as exports to Vietnam, the United States increased by 24.4%, 11.8%, and exports to Cambodia increased by nearly 35%; however, exports to India, Russia are down more than 10%. Developing countries in China’s technical textiles export market share is increasing.
From the perspective of major export home textile products, the export value of key export products such as industrial coated fabrics, picnic mats, 2-in-1 travel blankets, promotional blankets and blankets all maintained some growth in the first half of 2024.
Looking ahead to the whole year, with the accumulation of positive factors and favorable conditions in China’s economic operation and the steady recovery of international trade growth, it is expected that China’s industrial home textile products industry will maintain the stable growth in the first half of the year, and the industry’s profitability is expected to continue to improve. We hope that customers from all over the world can have business negotiations with us!
