In recent years, the supply expansion of polyester filament has accelerated, while the demand growth has been slower. In 2023, the growth rate of domestic and foreign demand for polyester filament will slow down.
Comparison of the growth rate of domestic texturing machines above designated size from 2012 to 2022
As of 2022, the total number of domestic large-scale texturing machines will be more than 20,000, an increase of 76.3% compared with 2012; in 2023, it is expected that the number of new texturing machines will be more than 1,200, and the growth rate will be higher than that of the same period last year. There has been a significant slowdown, with production capacity growth expected to slow to 5%. Therefore, the overall demand for polyester filament POY from elastic yarn is increasing, but the growth rate of demand is slowing down, and most of the new production capacity is concentrated in leading polyester filament companies such as Tongkun and Xinfengming, and capacity expansion is relatively concentrated. Chemical fiber weaving inventory and order days from 2019 to 2023
Looking at the trend of polyester filament and its downstream chemical fiber weaving orders, in recent years, the trend of chemical fiber weaving orders has gradually declined. The downstream raw material stocking is relatively cautious, and the raw material inventory is controlled at around half a month; Compared with the early stage of the epidemic, the inventory of chemical fiber weaving products has continued to decline and is controlled at a safe level. The current overall inventory is around January, and downstream weaving companies have become increasingly cautious in stocking raw materials.
Polyester filament exports in 2022-2023
In terms of external demand, polyester filament exports fell sharply in October, a drop of 26.16%, with net exports of 266,300 tons, a month-on-month growth rate of 26.27 percentage points. Due to the sharp decline in filament exports in October, net exports of polyester filaments in October The obvious decline in growth rate is mainly due to the fact that the industry’s exports to India this year are still at a freezing point due to the impact of BIS certification, and the external economic situation is weak, and the overall poor demand has dragged down the domestic polyester filament export situation.
Textile and apparel export trend chart from 2019 to 2023
The latest data from the General Administration of Customs shows that in November 2023, my country’s textile and apparel exports totaled US$23.665 billion, a year-on-year decrease of 2.96%, showing a downward trend for the seventh consecutive month, but the decline was narrower than the previous month, with a month-on-month increase of 3.05%, from negative to negative. Become a regular employee. Among them, textile exports were US$11.12 billion, down 1.3% year-on-year, and up 3.8% month-on-month; clothing exports were US$12.55 billion, down 4.4% year-on-year, and up 2.4% month-on-month. At present, demand in major overseas exporting countries has not improved significantly, and the economic situation of Southeast Asian countries is poor, which is dragging down the export of my country’s textile raw materials. Under the situation of poor demand, it is difficult to be optimistic about textile and apparel exports in the later period.
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