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Opportunities and challenges for Sustainable Development of Chemical Fiber Industry

China, 22 April 2019 -- TESTEX is a leading developer and manufacturer of textile testing instruments. It focuses on developing and manufacturing textile testing equipment.

FOR IMMEDIATE RELEASE

Recently, the biannual professional meeting at the highest level in the chemical fiber industry of Asia, the 12th Asian Chemical Fiber Conference was held in Bali, Indonesia. The theme of the meeting is "Sustainable Development of Chemical Fibers", representatives of chemical fiber associations from nine countries and regions(China, Indonesia, Japan, Korea, Malaysia, Pakistan, China Taiwan, Thailand) attended the meeting.

On the first day of the conference, representatives of the chemical fiber industry of various countries introduced the development status, structural adjustment and challenges of their textile and chemical fiber industries. On the second day of the meeting, representatives of the chemical fiber industry from China, Japan, India, South Korea, Thailand, Indonesia, the European Union and other countries and regions gave special presentations focusing on the balance of supply and demand, sustainability, and the future path. In this paper, the long-term supply / demand forecast and structural change in the global and Asian chemical fiber industry, the analysis of supply and demand of chemical fiber raw material and the market prospect, and the exploration of new development path of chemical fiber industry are discussed and exchanged in depth.

For the demand and supply prospects for synthetic fiber raw materials, R D Udeshi, president of the Indian Chemical Fiber Association, said that global economic growth had slowed down under the influence of various macroeconomic factors. Textile trade is also likely to suffer along with massive global trade. Trade growth is expected to be 3.7% in 2019 and 3.9% in 2018, and there may be a further recession if the trade environment continues to deteriorate. Of course, we should also see that, Asia's share of the global economy has risen to 34% driven by China's rapid growth, this trend is expected to continue with rapid urbanization in countries such as India and Indonesia, and Asian economies will continue to drive global consumption growth.

In the future, polyester fiber is still the main raw material of textile industry. In the global economy, the Asian textile market will play a leading role in contribution and consumption, and the industry will pay more attention to rewarding projects and invest in the future. As the economy grows, global demand expectations have been raised, but recent economic turmoil has not attracted attention, participants should be careful to formulate strategies.

For the medium-term supply & demand forecast and challenge of global chemical fiber, Masayuki WAGA, president of the Japan Chemical Fiber Association, said that by 2022, fiber demand is expected to reach 109 million 700 thousand tons; chemical fiber consumption will reach 75.9 million tons, an annual increase of 4%, and production capacity is expected to reach 99.2 million tons, an annual increase of 2.6%; The gap between capacity and consumption is expected to reach 23.3 million tons. The excess capacity in 2022 will shrink to 23.4% from 28.5% in 2017.

The Masayuki WAGA forecasts that the global population is expected to grow to 9.8 billion by 2050, and global car sales by 2030 are expected to grow to 120 million vehicles. As Asia accounts for almost 90% of global chemical fiber production, Asia has a major responsibility while facing a stable balance of supply and demand in the industry, standardization, micro-plastic particles and sustainability. We need to supply goods according to demand and demand expansion measures; expand actual demand through market cultivation; Technical development based on their own clothing culture to consider more areas of cooperation, such as standardization cooperation has achieved some results.

For sustainability challenges and the way forward, CEO Fibers of Indorama Ventures Ltd. Uday Gill argues that we need to optimize the use of resources, at the same time, human beings take responsibility, change, and standardize their actions. For example, chemical fibers are produced in a closed-loop manner, and when designing chemical fibers, such issues as recycling, and so on, are taken into account. In this regard, Japan has a lot of innovative practices that we can learn for reference; for resource optimization, regulation, self-regulation, infrastructure and so on, we must pay attention to aspects; and also to ensure the quality of renewable products, closer to the needs of customers,to believe that human behavior can be changed.

The fourth Industrial Revolution (4IR) is coming. It will connect and change the value chain of enterprises. The focus of industry is no longer labor force, industry leading value has shifted from labor force to knowledge and technology scale. In this environment, the value chain of the textile industry, including R & D, design, production,testing of textile, after-sales service, retail, logistics and customer relations, will benefit from cost savings, value added and integration. This will accelerate the integration of manufacturing and services, we should do a new round of adjustment to adapt to changes in global value chains.

Media contact
Company Name: TESTEX INSTRUMENT LTD
City, State, Country: DongGuan, GuangDong, China
Address: Wanjiang, Dongguan City
Contact Person: Nola
Tele: +86 769 2329 4842
Website: https://www.testextextile.com/

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Submitted by william nassery on Monday, 22 April 2019 at 2:42 AM
Category: Business
 
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