Latest figures on Chinese chemical fibre business
CCFA the China Chemical Fibres Association presents the latest figures on the Chinese chemical fibre business: In the first eight months of 2011 the production increased by 36.2 % against the same period of 2010 and attained a value of CNY 411 billion or around USD 63 billion. The output in 2011 was 13.9% higher and reached almost 34 million t
Actually demand is positive but in the most important segments textiles and clothing is still rather high but with signs of slowing down. The domestic turnover in retailing rose in 2011 by 17.1 % or to CNY 18.1 trillion and exports increased by around 20 % to close to USD 250 billion.
In 2010 there was an enormous investment boom in the Chinese man-made fibre industry and in the first eight months of 2011 its volume increased again by 45.8 % to CNY 67 billion and more than 400 new investment proposals were presented and three quarters were from the synthetic fibre sector and thereof more than 100 derived from the polyester fibre production sector.
The business has been profitable in 2011 and profits rose by 39.5 % to CNY 20.7 billion. There were also price increases noted especially because of shortages in areas such as benzene and ethyl alcohol and also the rising price of crude oil will continue to have an effect.
Fibre exports increased already in 2010 by 50 % close to USD 1.2 billion and in the first nine months of 2011 the value amounted to almost USD 2.1 billion and with this value China is the world’s largest exporter of man-made fibres thus topping the U.S.A.
The 12th five year plan (2011 – 2015) projects further growth and a 5.9 annual average increase of production capacity to a total of 46 million t by 2015 and production output will increase 5.8 % annually to 41 million t in the same lapse of time. The sector will try to decrease foreign supply of raw materials and preliminary products (41 % is imported today) by 30 % up to 2015.
The man-made fibre imports were in 2010 in excess of USD .8 billion or plus 28 % and another increase of 26 % was registered in 2011 to USD 2.3 billion and therefore China is also number one in buying such fibres.