In the first three quarters of 2021, China's technical textiles industry has returned to normal operation from the rapid growth in 2020. Affected by the high base in the same period in 2020, the industrial added value of enterprises above designated size in China's technical textiles industry decreased continually from January to September 2021, with a decline of 21.0%. But the two-year average growth rate still reached 12.3%.

According to the National Bureau of Statistics, the production of nonwovens and cord fabric by enterprises above designated size reached near 4.47 million tons and 611,700 tons respectively in January-September of 2021, down 1.01% and up 29.71% year-on-year, respectively.

Figure: Growth of China's Nonwovens Production by Enterprises Above Designated Size in Recent Years (%)

Source: National Bureau of Statistics

In terms of economic benefits, from January to September, the operating income of enterprises above designated size in the technical textiles industry decreased by 14.74% year-on-year, with an average increase of 10.78% in the past two years. Their total profit dropped by 63.78% year-on-year, seeing an average increase of 14.12% in the past two years. The operating profit margin reached 5.25%, seeing a year-on-year decrease of 7.11 percentage points.

Main Economic Indicators of the Technical Textiles Industry from January to September 2021 (above designated size)

Source: National Bureau of Statistics

As for listed companies, the operating income of 31 listed companies in the third quarter fell by 1.15% year-on-year, and their total profits declined by 33.59% year-on-year. Among them, listed companies in the fields of textiles for transportation vehicle and filter textiles enjoyed a good development momentum.

In terms of international trade, from the perspective of the main export products, China's exports of nonwovens, special yarns, twine & rope (cable), ribbon totaled US$ 6.23 billion in the first three quarters, up by 6.91% year-on-year. Thereinto, the export of nonwovens was US$ 3.43 billion, down by 4.52% year-on-year; its export volume was 1.05 million tons, up by 8.06% year-on-year; the export value of industrial textiles reached US$ 6.65 billion, increasing 39.74% year-on-year. As for the export of anti-epidemic materials, the export of chemical fiber nonwoven protective clothing (including medical protective clothing) was US$ 1.91 billion, plummeted by 79.81% year-on-year.

Source: CHINA TEXTILE LEADER Express