In 2024, the Nonwovens industry has shown a warming trend with continuous export growth. In the first three quarters of the year, although the global economy was strong, it also faced multiple challenges such as inflation, trade tensions and a tightened investment environment. Against this backdrop, China’s economy has been progressing steadily and promoting high-quality development. The industrial textiles industry, especially the Nonwovens field, has experienced a restorative economic growth.
Output Surge of Nonwovens
According to data from the National Bureau of Statistics, from January to September in 2024, China’s nonwovens output increased by 10.1% year-on-year, and the growth momentum has been strengthening compared to the first half. With the recovery of the passenger vehicle market, the production of cord fabrics also achieved double-digit growth, rising by 11.8% in the same period. This indicates that the Nonwovens industry is recovering and the demand is gradually picking up.
Profitability Boost in the Industry
In the first three quarters, the industrial textiles industry in China saw a 6.1% year-on-year increase in operating revenue and a 16.4% growth in total profit. In the Nonwovens sector specifically, the operating revenue and total profit grew by 3.5% and 28.5% respectively, and the operating profit margin rose from 2.2% last year to 2.7%. It shows that while profitability is recovering, market competition is intensifying.
Export Expansion with Highlights
The export value of China’s industrial textiles reached $304.7 billion in the first three quarters of 2024, with a 4.1% year-on-year increase. Nonwovens, coated fabrics and felts had outstanding export performances. Exports to Vietnam and the US increased significantly by 19.9% and 11.4% respectively. However, exports to India and Russia declined by 7.8% and 10.1%.
Challenges Ahead for the Industry
Despite growth in multiple aspects, the Nonwovens industry still faces challenges like fluctuating raw material prices, fierce market competition and insufficient demand support. The overseas demand for disposable hygiene products has contracted, although the export value is still growing but at a slower pace than last year. Overall, the Nonwovens industry has shown strong growth during recovery and is expected to maintain the good momentum while remaining vigilant against external uncertainties.
Post time: Dec-16-2024
