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The Indian Textile Journal - July 2007 Viewpoint
Pointers of Market Force

The trends in global textile industry in 2006, according to the Fiber Year 2006/07 Survey of Oerlikon have many interesting revelations. The findings have confirmed the long-term trends of further relocating manufacturing capacities to Asia, in particular to PR China, and of polyester as ultra large fibre segment. Western Europe and the United States have witnessed further reduction in production and higher textile and clothing imports. For the US economy, the deficit in textile and clothing accounts for about 10% of the country's total trade deficit. The Indian juggernaut is further accelerating with higher output in raw material for cotton and man-made fibres as well as higher production of spun yarns, cellulosic and synthetic fibres. Other countries like Egypt, Thailand and Vietnam are increasingly gaining importance. Other high potential nations like Cambodia, Indonesia and Uzbekistan did not yet attract the necessary investments to tap the full potential. 

The global textile industry has shown as average annual growth rate of 4.3% during the last decade. The big advantage of textile is the sustainable growth that is forecast to pick up pace because of income gains mainly in PR China and India. The contribution from Western Europe the US will continue to be subject to changes in favour of innovative solutions. Dominating topics continued to be imbalanced trade flows, compliance with social regulations and labour laws, smuggling of readymade garment and counterfeited clothing. This may increasingly fuel trade tensions. Although any protective measure will hurt global growth, an unrestricted evolution of the markets force required generally respected rules. However, growth in today's booming markets will not be endless, but constrained by storages in energy and raw materials. 

According to Organic Exchange, the use of organically grown cotton has led to strong retail sales, jumping up form US$ 245 million in 2001 to US$ 583 million in 2005. Organics cotton product sales are forecast to skyrocket to US$ 2.6 billion by the end of 2008. A future without man-made fibres is unimaginable to meet consumers' demand. Polyester will continue to dominate due to its favourable cost/benefit ratio.

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