news

4th ITMF survey on COVID-19 impact of textile industry

YarnsandFibers News Bureau 2020-06-24 09:23:19 – None

Between 20 May and 8 June 2020, the International Textile Manufacturers Federation (ITMF) conducted its 4th ITMF Corona Survey among ITMF members and affiliated businesses and associations about the effect of the Corona-pandemic about the global textile value chain. In total, approximately 600 companies from all over the world participated.

© ITMF.

On a worldwide scale, current orders continue to be down on average by more than 40% (Graph 1). When looking at the anticipated turnover in 2020 compared to 2019, the expectations remained unchanged because of the 3rd ITMF Corona Survey. On average, companies are anticipating their turnover to grow by 32 percent. The range between regions differs in the 22% fall in South East Asia to a 36% fall in East Asia (Graph 2).

© ITMF.

When looking at the different sections in the textile value chain, all segments, from spinners to garment producers, recorded significant decreases in orders (Graph 2).  Additionally, integrated producers seem to have fared slightly better with a 26% fall, while other segments expect turnover in 2020 to be falling in the assortment of 31% to 34 percent (Graph 3).

© ITMF.

Asked when pre-crisis levels will be reached again, 23% expect this to Maintain quarter 1 of 2021, followed by 21% that are expecting this to be The situation in quarter 2 of 2021. Another 14% hope this will be True In quarter 3 of 2021. But 20% of companies are expecting a faster recovery in quarter 4 of 2020 (Graph 4).

© ITMF.

 

Leave a Reply

Other services

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!