In the first three quarters of 2024, the global economic growth momentum was strong, but inflationary pressures, trade tensions and tightening investment restrictions and other issues remained. As for China’s technical textile industry, its economic operation presented a restorative growth trend; the market demand and exports continued to recover. According to the China Nonwovens & Industrial Textiles Association (CNITA) research, the prosperity index of China’s technical textile industry was 68.7 in the first three quarters of 2024, seeing a 1.6 percentage points growth compared with the first half this year (Figure 1).

Figure 1: Prosperity Index of China’s Technical Textile Industry

Source: China Nonwovens & Industrial Textiles Association (CNITA)

Since the beginning of this year, nonwoven output rebounded significantly. According to data from the National Bureau of Statistics, the output of nonwoven enterprises above designated size surged by 10.1% year-on-year in the first three quarters. Its average monthly production continued to improve over the first half of the year. With the vehicle market gradually picking up, the production of cord fabric (in tyres) returned to double-digit growth after fluctuations in the first half of the year. And its output saw year-on-year growth of 11.8%. (Figure 2)

Figure 2: Output Growth Rate of Nonwoven and Cord Fabric (in Tyres) Enterprises Above Designated Size

Source: National Bureau of Statistics

Since the beginning of this year, affected by the low base effect, domestic and foreign market demand recovery and other factors, the industry’s main economic efficiency indicators rebounded continually (Table 1). However, the industry is still facing raw material price fluctuations, insufficient demand support, fierce market competition and other challenges.

Table 1: Growth Rate of Major Economic Indicators of China’s Technical Textile Industry in Q1-Q3, 2024 (Above Designated Size)

Source: National Bureau of Statistics, China Nonwovens & Industrial Textiles Association (CNITA)

According to China Customs data, in the first three quarters, the key products of China’s technical textiles industry maintained a high growth rate of exports to major markets. For example, the exports to Vietnam and the United States ballooned by 19.9% and 11.4%, respectively, and that to Cambodia surged by 27.7%; however, the exports to India and Russia declined by 7.8% and 10.1%, respectively.

Table 2: The Exports of Main Products in China’s Technical Textile Industry in Q1-Q3, 2024

Source: China Customs, China Nonwovens & Industrial Textiles Association (CNITA)

Source: CHINA TEXTILE LEADER Express