Industry Analysis & Industry Trends
The global recession that began in mid-2008 had a major influence on the textile industries in China. Slower growth in foreign demand for apparel and fabrics resulted in less demand for yarn and cloth in late 2008 and all of 2009. Product prices dropped slightly in 2009 and foreign markets were heavily hit, with industry exports dropping significantly. As a result, industry revenue increased mildly in 2009, at a level much lower than that before 2008.
During 2010, the industry recovered strongly due to rising domestic and foreign demand. Industry revenue increased by 23.2% to $200.0 billion. The industry's exports increased by 25.1% to $34.1 billion, accounting for 17.1% of industry revenue.... purchase to read more
Industry Report - Starting a New Business Chapter
A large amount of capital is required to enter the high-end market in this industry, as manufacturers need to purchase advanced production facilities and equipment. Additionally, new firms have difficulty in establishing their product in the market place due to a relatively high number of competitors promoting largely homogeneous products.
Products of well-known brands are generally considered to be of high quality. Enterprises with a high brand awareness and good brand image therefore gain advantages in the market. A new entrant needs to establish its brand to attract clients to gain market share, and the process is generally time-consuming. The importance of brands, however, is much lower for new operators in the low-end market... purchase to read more