Rising investment in the textile industry to expand production scale greatly boosts the textile raw materials market in China

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“China Textile Market Data Review”

Rapid urbanization, increasing disposable income and rapid developments in the textile sector in China have further contributed to the growth of the market.

Textile Raw material is the main substance used as an input in the textile production process and these materials are modified for use in different processes before being used in the final manufacturing process. In the textile industry, raw materials consist of fabrics, dyes, yarns and fibers that are naturally derived like cotton, wool or manually made like nylon, polyester. China is developing a competitive advantage in textile production as the country has ample availability of cheap labor, better information flow, a sustainable supply channel and modern infrastructure. Thus, for such advantages, China has become a hub of production and attracted investment that has led to an increase in the scale of production in its manufacturing sectors like textiles. For example, the China Apparel Association said that in the first seven months of 2016, Chinese investment in the textile and apparel industry increased by 7.29%. Moreover, Chinese textile companies that focus more on advanced manufacturing are also investing in their fixed assets such as machinery. For example, the China National Textile and Garment Council, China’s textile industry’s investment in fixed assets increased by 5% in 2018. Such an increase in investment in the textile industry will increase the scale of production in China, thus leading to an increase in the use of raw materials such as fibers and fabrics in the manufacture of textile products. Therefore, such an increase in the use of raw materials will have a positive impact on the growth of the Textile raw material in the Chinese market was valued at US$31,339.4 million in 2016 and reached US$41,739.5 million by 2020 after growing at a CAGR of 7.4% during the period 2016-2020.

In China, textile and apparel has been an important sector for investment purposes, as the large scale and high demand of China’s textile industry provides very stable returns for investors. The modernization of the garment industry, driven by the changing demand of the new generation and the increased efficiency of suppliers, is one of the fundamental reasons for the entry of new capital into the textile industry in China. In addition to apparel brands, the apparel industry supply chain has ushered in intensive financing as part of an industry-wide upgrade. Therefore, clothing e-commerce platforms are also attracting the attention of the capital market. The growing number of funds guaranteed by Chinese textile enterprises will increase their production scale, which will increase the degree of utilization of textile raw materials in the manufacture of textile articles such as garments and garments. Therefore, such an increase in the use of raw materials will bring more growth to the textile raw materials market in China.

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China’s textile industry shows apparent economy of scale and cost effects in material sourcing, labor cost, product qualities, backward and forward compatibility, which contribute to its strong export competitive advantage. Therefore, being a developed country and constantly investing in technologies of textile industries, China, compared to its foreign counterparts, has a strong textile industrial base at low cost. This has enabled China to attract investment from foreign countries. For example, according to the Ministry of Commerce, from 2015 to 2018, foreign direct investment in China’s textile industry totaled $6.2 billion, or 7.12 percent of total foreign direct investment in China’s manufacturing sector. These foreign direct investments play a vital role in expanding China’s domestic textile market and increasing the export sales of textiles and garments produced by textile companies in China. The increased domestic and export sales of these enterprises lead to an increase in production capacity to meet the foreign demand for textile articles, which leads to an increased use of textile raw materials. Hence, this gives a major impetus to the growth of the textile raw materials market in China.

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Textile raw materials market in China Engine of growth

Growing Online Textile Shopping Increases Demand for Textile Products

E-commerce in China has become an important driver of the economy and an important starting point for economic restructuring and development. Growing technological advancements and increasing digitalization processes have helped Chinese manufacturing sectors such as the textile industry to evolve into a new business model, adopt new business practices, and reach a new phase of consumption. Improved living standards of people, especially the middle class segment, and the introduction of online shopping festivals such as Alibaba Single day have increased the online consumption of textile and clothing items. For example, according to the China Commercial Circulation Association of Textiles and Apparel, online sales of textiles and apparel grew by 12.6% while the brick-and-mortar textile and apparel-specific wholesale market via platforms e-commerce increased by 8.89%, or 21.97%. % of total online textiles and apparel sales. Therefore, the growth of online textile shopping has increased the demand for clothing items, especially among the younger generation, as it offers different varieties of clothing items, and it has also expanded the market reach of textile companies, which resulted in an increase in the scale of production of textile and clothing items. in China. This will result in increased use of raw materials for the manufacture of textiles and garments, which will have a positive impact on the growth of the textile raw materials market in China.

Key players in this market include

The main companies in the textile raw materials market in China are Jiangsu ZhongHeng Dyeing & Finishing Co. Ltd, Weiqiao Textile Company Ltd, Consinee Group Co. Ltd, Zhejiang Xinao Textile Inc., Tmall Xiyou, Hangzhou Baiken Sign Material Co. Ltd, Xinxiang Weis Textiles & Garment Co. Ltd, Bros Eastern Co. Ltd, Kam Hing International Holdings Ltd, Texhong Textile Group Ltd. The primary focus of companies has shifted to acquiring and launching products.

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Textile market

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