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

Nigeria's ABP scheme targets 1 lakh cotton farmers in 2019

Textiles | On 21st Mar 2019

Nigeria's ABP scheme targets 1 lakh cotton farmers in 2019

The Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme (ABP)...

Pic: CorePower Yoga

Apparel/Garments | On 21st Mar 2019

TSG Consumer Partners takes over CorePower Yoga

TSG Consumer Partners, a leading private equity firm focused...

Pic: Showcase USA

Apparel/Garments | On 21st Mar 2019

Showcase USA store helps in cross-border e-commerce sales

Leveraging the backbone of ABC Depot Logistics, the exclusive 3PL and ...

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Bani Batra,

Bani Batra

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

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


March 2019

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

news category


Related Categories:

Advanced Search