A manufacturing enterprise integrating garment production and foreign trade export.
Blog
NEWS
15
2023
-
09
2021 China’s Synthetic Fiber Industry Operational Analysis and 2022 Outlook
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In 2021, the global economy gradually recovered, and China’s economy also achieved sustained recovery and development, with its economic growth rate ranking among the highest globally. Both domestic and international demand for Chinese textiles and apparel rebounded, fully leveraging the advantages of China’s complete industrial system.
In 2021, the global economy gradually recovered, and China’s economy also achieved sustained recovery and development, with its economic growth rate ranking among the highest globally. Both domestic and international demand for Chinese textiles and apparel rebounded, fully leveraging the advantages of China’s complete industrial system. Throughout the year, the development of China’s synthetic fiber industry was closely aligned with the “dual circulation” strategy, consumption upgrading, dual control of energy consumption, and industrial security. The industry’s performance exhibited several promising features: thanks to the deepening of supply-side structural reforms, the supply-demand balance in the industry improved; as integrated refining and chemical operations continued to develop, the supporting infrastructure of the industrial chain became increasingly sophisticated, leading to a more balanced distribution of profits along the chain; the competitiveness and risk-resistance capabilities of leading integrated enterprises significantly strengthened; and continuous efforts in product development enabled the industry to produce differentiated, high-quality products that meet both domestic and international market demands...
In 2021, China’s synthetic fiber industry entered the recovery phase following the pandemic era, exhibiting an overall situation characterized by rising prices, increased profits, and stable inventory levels, thus achieving a solid start to the 14th Five-Year Plan period. However, it is worth noting that as the low-base effect from 2020 gradually weakens, the industry’s growth momentum has begun to slow down, and the growth rates of key economic indicators have shown a clear “high in the front, low in the back” trend.
I. Basic Operational Status of the Synthetic Fiber Industry in 2021
(1) Production Status
In 2021, the output of synthetic fibers reached 65.24 million tons, representing an 8.29% year-on-year increase (Table 1). Among these, with the exception of viscose filament and acrylic fiber, whose outputs declined by 2.42% and 11.87% respectively year-on-year, the output of all other major products showed positive growth—particularly polyester filament, which increased by 10.77% year-on-year, and spandex, which rose by 10.08% year-on-year.
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