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

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search