In the first three quarters of 2024, the global economy is growing strongly, but problems such as inflationary pressures, trade tensions and a tightening investment environment remain. On the whole, China's economy has made steady progress, high-quality development has made solid progress, and the accumulation of positive factors has increased. The economic operation of China's industrial textile industry shows a recovery growth trend, market demand continues to recover, and the industry's exports are overall in the warming range. According to the survey of the Association, the prosperity index of China's industrial textile industry in the first three quarters of 2024 was 68.7, an increase of 1.6 percentage points over the first half of the year.
Since 2024, the production of nonwovens in China has recovered well. According to the data of the National Bureau of Statistics, from January to September 2024, the output of nonwovens of enterprises above scale increased by 10.1% year-on-year, and the average monthly output continued to increase compared with the first half of the year. With the gradual recovery of the passenger car market, the production of curtain fabric returned to double-digit growth after experiencing fluctuations in the first half of the year, and the output of curtain fabric of enterprises above designated size increased by 11.8% year-on-year from January to September.
According to the data of the National Bureau of Statistics, in the first three quarters of 2024, the total operating income and profit of enterprises above designated size in China's industrial textile industry increased by 6.1% and 16.4%, respectively. According to the China Industrial Textile Industry Association estimates, the operating profit margin of enterprises above the industry scale is 3.8%, an increase of 0.3 percentage points; The loss of the industry was 23.6%, narrowing by 1.6 percentage points from the first half of the year. Since 2024, under the combined influence of factors such as the low base effect and the recovery of domestic and foreign market demand, the main economic benefit indicators of the industry have continued to rise and improve, but it still faces challenges such as fluctuations in raw material prices, insufficient demand support, and fierce market competition.
From January to September, the total operating income and profit of non-woven enterprises above the scale increased by 3.5% and 28.5%, respectively, and the operating profit margin was 2.7%, an increase of 0.5 percentage points. The operating income and total profit of enterprises above the scale of rope, rope and cable increased by 14.8% and 46.5%, respectively, ranking first in the industry, and the operating profit margin was 3%, an increase of 0.6 percentage points. The total operating income and profit of enterprises above the scale of textile belt and cord fabric increased by 9.9% and 4.2% respectively, and the operating profit margin was 2.9%, which was 0.2 percentage points lower than the same period last year. The operating income of enterprises above the scale of tent and canvas increased slightly by 0.5% year-on-year, the total profit decreased by 10.8% year-on-year, and the operating profit margin was 4.7%, down 0.6 percentage points year-on-year. The total operating income and profit of other industrial textile enterprises above the scale of filtration and geotextile increased by 10.6% and 20.9%, respectively, and the operating profit margin of 6.1% was the highest level in the industry.
In the first three quarters of 2024, the operating income of 30 listed companies in China's industrial textile industry increased by 7.4% year-on-year, and the total profit fell by 21.8% year-on-year. While sales revenue maintained growth, the profitability of listed companies in the industry faced challenges. Among them, 14 listed companies achieved double growth in operating income and total profit, and 4 listed companies were in a state of loss; The listed companies of transportation textiles and synthetic leather textiles have a good momentum of development, and the profits of listed companies of health textiles have declined greatly.
According to China Customs data (customs 8-digit HS code statistics), in the first three quarters of 2024, China's industrial textile industry exports reached 30.47 billion US dollars, an increase of 4.1% year-on-year, an increase of 0.8 percentage points compared with the second quarter (Table 2); Industry imports were $3.74 billion, down 4.8% year on year, and the decline continued to narrow compared with the second quarter. In the first three quarters of 2024, the exports of key products of China's industrial textile industry (chapters 56 and 59) to major markets maintained a high growth rate, such as the exports to Vietnam and the United States increased by 19.9% and 11.4%, respectively, and the exports to Cambodia increased by 27.7%; But exports to India and Russia fell 7.8 per cent and 10.1 per cent respectively. From the perspective of main export products, the export value of key export products such as industrial coated fabrics, felt fabrics/tents, nonwovens, diapers, sanitary napkins, ropes, canvas, industrial glass fiber products maintained a certain growth in the first three quarters of 2024; The export value of wiping products (dry and wet wipes), structural strengthening textiles, and other industrial textiles maintained a high growth rate; Overseas demand for disposable hygiene products such as diapers and sanitary napkins contracted, and although exports continued to grow, the growth rate was 10 percentage points lower than the same period in 2023.
(Information source: Global Textile Network)