Textile Market News

China's knitted fabric exports dipped in 2023, marking a shift after two years of steady growth. Shipment volume fell 6.1 per cent to 2.4 million tons, though the overall trend since 2013 showed a moderate annual increase of 4.3 per cent with some fluctuations.

The US Cotton Council International (CCI) urged the Indian government to eliminate the 11 per cent import duty on short staple cotton. This move aims to bring down prices and benefit Indian textile manufacturers.

South Korean sustainable textile leader Hyosung TNC joins forces with Ambercycle, a material science company, to introduce the first textile-to-textile circular polyester into South Korean supply chains. This partnership aims to create a closed-loop system for textiles, reducing environmental impact.

Nilit, known for its sustainable Nylon 6.6 fibers, has published its 2022-2023 Impact Report, showcasing substantial advancements in textile sustainability.

The spandex industry in China is facing a potential oversupply situation as production capacity ramps up and downstream demand weakens.

Uzbekistan's cotton industry is undergoing a transformation towards sustainability. The Better Cotton Initiative (BCI) has certified several cotton clusters, marking a significant step. This move follows the end of a boycott by the Cotton Campaign, leading to renewed interest from international clothing brands.

This year's Yarn Expo Autumn will take place from August 27th to 29th at the National Exhibition and Convention Center in Shanghai, China. With a focus on eco-friendly products, the event aims to capitalize on the positive outlook for the global yarn and fiber market.

The US Department of Agriculture (USDA) reported a rise in cotton exports. Upland cotton sales, the most common variety, climbed 28 per cent with China and Vietnam leading the pack. China purchased 77,500 running bales (RB) of Upland cotton, while Vietnam bought 28,900 RB. Pakistan, Macau, and Mexico also saw increased purchases.

India's textile industry, a giant in the global market, is poised for explosive growth. The industry, currently valued at $240.8 billion, is projected to reach a staggering $350 billion by 2030, boasting a 10 per cent annual growth rate. This surge is fueled by a strong domestic economy and a strategic focus on new frontiers like technical textiles, home furnishing, and specialty fabrics.

A significant decline in orders from Western countries has impacted at least 35 per cent of spinning mills and fabric manufacturers in Coimbatore and Tiruppur. Despite the fall in cotton candy prices from Rs 1.10 lakh in 2021-22 to Rs 57,000-60,000, the industry struggles to compete with Bangladesh, China, and Vietnam due to an 11 per cent import duty on cotton and quality control orders on certain fibres. Industry associations have appealed to the union government for support.

The Functional Fabric Fair, to be held from July 16-17 at the Javits Center in New York City, will offer a comprehensive educational program alongside its showcase of high-performance fabrics. The ‘Expert Talks’ program features industry leaders discussing trends, sustainability, and the future of textiles.

Pakistan's textile industry association, APTMA, is strongly against the government's plan to impose import duties on cotton. They argue these duties would hurt the industry, especially small and medium businesses, and could lead to job losses and a decline in exports.

The Lenzing Group, a leader in sustainable fibers, has secured a new long-term partnership with Suzano SA, the world's largest pulp producer. Suzano will acquire a 15 per cent stake in Lenzing from their current majority shareholder, B&C Group. This partnership strengthens Lenzing's ownership structure and brings together two key players in the pulp and fiber industries.

FibreTrace, a company offering real-time verification of fiber origin, joins forces with retail giant Target and agricultural heavyweight Cargill to track cotton throughout the supply chain. Their innovative technique involves embedding special pigments into raw cotton during processing.

Taiwan's cotton yarn exporters are facing a significant hurdle due to a recent policy change by Mainland China. The new policy suspends tariff reductions on specific goods from Taiwan, including cotton yarn categories that make up over 90 per cent of Taiwan's cotton yarn exports to China.