´Despite slower growth overall in the Chinese economy, the domestic housing market is still relatively strong in most cities across China,´ says Ms Wendy Wen, Senior General Manager, Messe Frankfurt. ´Not only is it new building projects that are keeping home textile import figures strong, but also home renovation projects which are becoming an increasingly important sector of the market.´
The China Home Textile Association (CHTA) calculated that home textile imports into China reached $2.5 billion between January and October 2014, with a large proportion of this in premium bedding products and upholstery fabrics for the high-end market. In a further boost for the industry, the value of home renovation projects is forecast to exceed $48 billion annually, with annual growth of around 30 per cent predicted according to a domestic home living website. Textile products account for around 25 per cent of the total cost of home renovation projects in China.
It is not only the economic data that shows the potential for overseas suppliers however, but consumer trends in the Chinese market too. ´Chinese consumers are increasingly placing more emphasis on the quality and design of home decorations, so the furniture and interior design market has grown rapidly in recent years,´Ms Wen says. ´A gradual change is occurring too where buyers are attaching more importance to quality, style and trends, and less to cost which can only benefit those suppliers in the mid-range and high-end sectors.´
As the global home textiles industry reflects on another hugely successful edition of Heimtextil in Frankfurt, attention has begun to focus on its sister show in Asia: Intertextile Shanghai Home Textiles, which will be held from 26-28 August. This year marks a new era for Asia´s largest home textiles event which will relocate to the recently completed National Exhibition and Convention Center (Shanghai) ´ the world´s largest fairground. The fair will be take place across approximately 160,000 sqm.
To find out more about this event, please visit: www.intertextilehome.com.