Textile Briefs International

1. Worldwide market value for digital textile printing expanded to CAGR (Compound annual growth rate) of US$ 1.88 billion in 2018. Specialists have forecast that global digital textile printing production will be around 1.6 billion square meters annually by 2019.

2. According to market research and advisory firm Technavio, the global denim and jeans market is worth about US$ 60 billion. However, the denim industry is expected to grow at a compound annual growth rate (CAGR) of over 6.5% by 2020.

3. Bangladesh textile chemicals market is forecast to grow from US 864 million in 2018 to US$ 1.38 billion by 2024, exhibiting a CAGR of around 8% during the forecast period, owing to robust growth in garment sector.

4. The Vietnam Textile and Apparel Association (VITAS) have set a target of US$ 40 billion in export turnover for the calendar year 2019, 10.8% higher than the US$ 36 billion in 2018. The country’s garment and textile exports are also forecast to hit US$ 200 billion by 2035.

5. Uzbekistan, the world's sixth-largest cotton producer, produced 2.3 million tonnes of raw cotton in 2018. In recent years the country has been taking serious steps to develop its textile industry to produce value-added products rather than exporting raw cotton.

6. Bangladesh is currently facing several challenges and the biggest challenge of 2019 is the price falling of RMG products. The price of cloths has been decreased though the cost of making clothes has been amplified.

7. According to Redma Gita Wirawasta, Secretary General of the Indonesian Synthetic Fiber Producers Association (APSyFI), rayon is most in demand in the fashion industry due to several advantages, such as comfort and disposability, which make it environmentally friendly.

8. According to the McKinsey Global Fashion report, almost 20 fashion companies will make almost all of the industry’s profits in the year 2019. These companies account for 97% of global economic profit in the sector.

9. As per the Apex Chamber of Indian textiles, Indian cotton yarn exports fell to US$ 3.4 billion in 2017-18, from US$ 4.5 billion in 2013-14. China, the largest importer of cotton yarn, has replaced India with Vietnam and Indonesia.

10. Chairman of the Indonesian Textile Association of West Java (API Jabar) Ade Sudrajat said the global demand of textiles and textile products increased 5% in 2017 and increased 8% in 2018. The current target is to meet domestic needs up to 100% and to reach the export value of US$30 billion.

11. At present India’s technical textiles industry at Rs 1.16 lakh crore in 2017-18 and likely to reach Rs 2 lakh crore by 2020-21, said Sanjay Jain, chairman, Confederation of Indian Textile. 

12. According to data from the Ethiopian Investment Commission, 124 foreign investors have expressed an interest in the Ethiopian textile sector, 71 of which are from China.

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