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Demand for Spandex to stabilise in 2009

17
Aug '09
Spandex is a flexible synthetic fiber, mainly used in production of clothing, home textiles and industrial textiles and has the ability to improve the functionality of the end user product.

Demand for spandex improved in the first half and prices of spandex products started to rise by the end of April 2009 with the main reason being a steep hike in global prices of spandex.

Since entering peak season in March, domestic spandex industry and downstream industries have increased operating rates and even in the low June, July and August seasons, current capacity utilization is still 92 percent.

After the previous round of rapid expansion in production capacity, spandex production capacity will almost cease expansion in the next two years. New spandex production is about 30,000 tons in 2009.

Of this, 8,000 tons are in South Korea and Vietnam, 7,000 tons are in Turkey and 12,000 tons is manufactured by Sichuan Youli Investment Holding Co. In the backdrop of relatively stable production, demand in spandex fibre is expected to increase.

The textile industry entered a downturn in 2008, but spandex demand still maintained growth, mainly due to escalation of domestic consumption and pursuit of high-quality fabric and per capita spandex consumption increased substantially.

The government has implemented a series of support policies to revitalize industries, lower export tax rebate, expand domestic demand since 2009 which will result in stability of domestic demand for spandex.

Fibre2fashion News Desk - China


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