Textile Industry Is Facing Severe Challenges in 2021

The year of the Qx 2021 is coming to an end soon. Throughout this year, especially in its second half, the whole textile industry is facing severe challenges and difficulties. For many textile people, the following themes can not be ignored.

1. COVID-19

Since the outbreak of the new coronavirus（COVID-19), this small virus has become the key to the global market trend. The global market was severely impacted at the beginning of the epidemic, and then continued to rebound under the support of vaccination activities, while the recent sudden emergence of the Omicron variant has caused new waves. Although the vaccination has been widely carried out around the world, it still seems not so easy to make the epidemic disappear completely. The recurrence of the epidemic will still drag down the global economic growth and affect the recovery of textile and garment consumption demand.

2. Carbon Neutrality

Energy and resource conservation has become a global community consensus. At present, more than 120 countries have proposed carbon neutrality targets. China has also announced its target to peak carbon dioxide emission before 2030 and hit carbon neutrality by 2060. At the beginning of this year, our government incorporated the target in the 14th Five-Year Plan. Then, the "dual control of energy consumption" policy began in mid-September. Textile industry, as a major carbon emitter, cannot escape the process of transformation and evolution.

3. The Price of Raw Materials Remains High.

In recent years, the high price of raw materials has brought cost pressure to the enterprises. The situation that the cost pressure cannot be transferred to the terminal makes the factories enter a meager profit era. Due to the inflation and high cost, the price of raw materials will probably remain high in 2022. If the demands cannot be improved significantly, this will still be a dilemma that the whole textile industry faces.

We can see that a new round of technological revolution and industrial reform is reshaping the textile industry. How to turn adversity into opportunity is a key task of every textile people.