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Textile fibre use in 2013 exceeds 12-year average
09
Aug '14
Greater purchasing power in emerging economies such as the BRIC countries with high rates of population, helped textile fibre consumption grow by 4.4% in 2013, exceeding the annual average rise of 3.5% maintained since 2000, says the Fiber Year 2014 report.

The stepping up of textile fibre consumption in 2013 is in stark contrast to 1.5% growth reported in 2011, in an environment of falling consumption in the US and the European region.

In 2013, the global textile sector consumed over 90.1 million tons of textile fibres, which corresponds to an average consumption of 12.7 kilos per person.

Export of textile fibres in 2013 from top ten textile fibre exporters also grew by 8.1% over 2012. China and Vietnam were the countries whose textile fibre exports registered a high growth.

Last year, Chinese exports of fibres rose by 11.4% over 2012, while those from Vietnam increased by 18%. The import value into the United States and EU (28) rose 4.1% in 2013 over 2012.

The report observes that the market trend has unabatedly shifted towards manmade fibers that hold a 67% share at present, up from 54% in 2000. This trend will continue as ICAC expects negative impacts from the new Chinese cotton policy and the cost difference to polyester.

The Fiber Year Book also studied links to the upstream petrochemical sector. It notes that massive investments, in particular, in PR China, will result in an excess capacity in the polyester chain and that both PX and PTA industries will suffer from overcapacity of unprecedented levels.

It adds that both these raw materials will increasingly be confronted with restructuring measures. Non-integrated producers will struggle to achieve economically viable operating rates. The scope of price increases will also be extremely limited due to the overcapacity.

Furthermore, above average capacity additions of Caprolactam, a raw material for nylon fibers, will similarly lead to oversupply and initiate adjustments for mainly exporting manufacturers.

Forecasting its outlook till 2020, the Fiber Year Book observes that weakening dynamics in population growth and disposable income in advanced economies, which at this stage consume above average textile volumes, will soften world demand growth rates.

It concludes by saying that this necessitates knowledge and detailed information about single markets and their surrounding conditions. A reduced average annual growth rate of around 2.5% is anticipated until end of the decade.

Click here to read the whole Fiber Year report.

Fibre2fashion News Desk - India

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