Business situation along the global textile value chain is very good, as per a survey by the International Textile Manufacturers Federation (ITMF). On an average across all regions and all segments, the situation has improved significantly since the 10th survey in September. The textile industry is also expecting a further improved business in the future.
In the first half of November 2021, the ITMF conducted the 11th ITMF Corona-Survey among more than 330 companies around the world in all segments along the textile value chain. For the fourth time since May, companies were asked the same set of questions about their business situation, expectation, order intake, order backlog, and capacity utilisation rate.
The balance between companies with a good and a poor business situation jumped from +10 percentage points (pp) to +28 pp. When it comes to business expectations in six months’ time (May 2022), the balance is +33 pp. This means that significantly more companies are expecting business to be more favorable than less favorable by May 2022. Nevertheless, expectations were slightly higher in the previous surveys, ITMF said in a press release.
A look at the different regions has revealed that the business situation improved on an average in most regions except for East Asia. Business expectations are optimistic in all regions. As for the different segments, the gap between the upstream segments – fibre producers, spinners, and textile machinery producers – on the one hand and the downstream segments – weavers/knitters, finishers/printers, and garment producers – on the other hand is narrowing.
As far as order intake is concerned the very positive situation (+40 pp) is the source for the above-mentioned very good business situation. Order intake expectations increased again from an already high level to +41 pp, the release added
Order backlog has remained almost unchanged since May and is around 2.5 months. By nature, the textile machinery segment has on average a much longer backlog (6 vs. 1.5 months for spinners). The capacity utilisation rate has increased slowly but continuously since May 2021, indicating that the supply chain disruption is still a big - but hopefully diminishing - concern.
Fibre2Fashion News Desk (RR)
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