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Chinese chemical fibre industry on a gallop
13
Sep '11
Global fibre production will reach a new high in 2011 in accordance with the present trend of global chemical production. From the situation of fibre production in various countries and regions in 2010, the chemical fibre industry had fully recovered in 2010, and is expected to continue growing in 2011.

China's compounded annual growth rate registered 14 percent from 2005 to 2010, the rate in 2010 increased 16 percent compared with 2009, the two indexes ranked the first in the world.

The corresponding Indian indicators were 10 percent and 5 percent, respectively, ranking the second in the world. Apart from China, India and ASEAN, compounded annual growth rates of other major fibre producing countries were negative from 2005 to 2010.

As domestic demand of emerging countries is brisk, cotton prices are soaring and despite capacity output of global synthetic fibre increases, supply and demand remains tight in the market. However, industry experts predict that fibre may be in oversupply in 2014.

In order to avoid the expected gap between supply and demand in 2014, China's chemical fibre industry that has accounted for half of world's chemical fibre industry will play a crucial role.

The Twelfth Five-Year Plan of China's chemical fibre industry lays emphases on industrial structure adjustment, which complies with the requirements of the times.

Fibre2fashion News Desk - China

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