Cotton, wool and polyester fibres are some of the most vital raw materials for the global textile and apparel industry. Whether it's due to political or economic reasons, the ups and downs on the productions and the stocks of cotton, wool and polyester fibres will always have significant influence on the global market. The industry outlooks for cotton, wool and polyester are some of this week's featured stories on BizVibe. BizVibe is the world's smartest B2B marketplace and allows users to connect with over seven million companies around the globe.
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BizVibe textiles and fabrics industry overview. (Graphic: Business Wire)
World cotton stocks continue to decrease, while production expects to rise
Global cotton stocks reduced by 14% from 22.2 million tons in 2014/15 to 19.1 million tons in 2015/16. A continued decrease is expected according to the International Cotton Advisory Committee (ICAC) in 2016/17, where stocks are likely decrease another 7%. However, cotton production is projected to rise in the same fiscal year.
Factors such as the global economy slowdown, contraction in global trade, competition from synthetic fibres and changes in government policies are currently the main reasons to affect the global cotton market.
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Global wool market is in a gradual growth
Despite the 1.5% decline in world wool production in 2015/16, the global wool market is expected to rise, thanks to the global recovery from recessions and the increasing demand for fine wools.
Meanwhile, wool prices are also rising as 2016 saw the highest average bale price since 1997. These higher prices accompanied a significant increase in supply, demonstrating that recent high demand has not been due to a low supply.
Connect with nearly 7,500 companies in the wool industry listed on BizVibe
Global polyester fibre market shows a healthy status
Polyester fiber is the most commonly used fiber in the world and accounts for about half of the overall fiber market. Industrial data shows that the global polyester market has grown at a rate of nearly 7% since 1990, and is expected to have a CAGR of 5% for the period 2015-2020.
Currently, China is the largest producer and consumer for polyester material, while Asia-Pacific is expected to account for over 85% of the global market by 2019, which North America and Europe each contributing less than 5%.
Connect with over 4,000 companies in the polyester industry listed on BizVibe
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