Home / Knowledge / News / Textiles / 'Flashback 2008'– Highlights of Textile Dyes & Chemical sector
'Flashback 2008'– Highlights of Textile Dyes & Chemical sector
27
Dec '08
The year 2008 has proved as a critical year for the Dyes and Chemicals industry, since there have been many ups and downs in global markets throughout the year for various reasons like Olympics, Pre-registration of REACH, global meltdown etc.

In order to avoid any environmental problems during the 2008 Olympic Games, Government of China had taken a few necessary steps. As a part of this plan, the Government had set about halting production and closing down dyes and chemical manufacturing factories. As many as 1000 dyeing and printing factories had been shut down in Zhejiang, Hebei, Henan and Shandong Provinces.

EU REACH was put into effect from June 1, 2008. Under this law, it is mandatory for exporters to provide specific details of the chemical components in the products. They are required to prove the safety of their products, or else the products will not be allowed to enter the EU markets. The six-month REACH pre-registration period closed on 1 December at midnight. EU/EEA-based companies submitted well over two million pre-registrations covering more than 100,000 substances.

Reportedly, several leading Chinese enterprises had set up a special department in charge of REACH rules. However, many SMEs were having serious problems, especially due to lack of knowledge and finance. These domestic enterprises were unable to follow REACH rules and most were seriously considering giving up EU as a market.

In the last quarter of the year, industry was deeply affected by the global meltdown which started from the US, and spread across the world. Exports of dyestuff declined from major Asian countries because European countries were the principal consumer of dyes and chemicals and their demand decreased drastically.

Going into 2009, textile chemical and auxiliary manufacturers are in deep trouble due to the high inventory cost of their finished materials as these were manufactured from very high priced raw materials purchased a few months back. But now since the unfolding of the crisis, prices of key chemicals and intermediates have crashed by as much as 40 – 50 % which will convert in to massive losses for the stocks of finished products.

In order to cover all significant happenings of the industry, fibre2fashion.com has compiled all the most important global news happenings of 2008 connected with the dyes & chemicals industry and which covers information on mergers & acquisitions, new product inventions, technological innovations, price fluctuations, REACH Pre- registrations and more ....

Click here to read "FLASHBACK 2008 – Dyes & Chemicals".

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X