2024 chemical fiber and fabric manufacturing equipment investment at home and abroad

In 2024, domestic investment in the chemical fiber, textile and apparel sectors was relatively moderate.

According to data from the National Bureau of Statistics, from January to December 2024, fixed asset investment in China's chemical fiber, textile and apparel industries increased by 4.7%, 15.6% and 18% year-on-year respectively, compared to declines of 9.8%, 0.4%, and 2.2% during the same period in 2023.

In 2024, under the trends of equipment upgrades and external transfers, the new additions in DTY, fabric manufacturing and textile sectors remained significant, surpassing the investment growth rate in chemical fibers. During the domestic textile cluster transfer, markets in Henan, Anhui, Jiangxi, Hubei and Xinjiang are worth paying attention to.

It was estimated that in 2024, the number of new domestic polyester DTY machines would be around 2,000 units (equivalent to 288 spindles per unit), with a growth rate of 7.89%. By the end of 2024, the total number of DTY machines was expected to reach approximately 27,340 units.

From the second half of 2023 to the first half of 2024, the overall sales of looms remained relatively high, with significant contributions from shuttleless and water-jet looms.

In 2024, the growth rate of overseas fabric manufacturing machines was slowing down.

In 2024, China's export volume of DTY machines was expected to decrease by around 5%. Among looms exports, the growth rate for Raschel warp knitting machines was relatively good, while the export growth of tricot warp knitting machines was declining. The overall export of shuttle looms and circular knitting machines was weak, although exports of wide-width water-jet looms, wide-width shuttle looms and other powered looms were tolerable.

According to customs data for 2024, the exports of tricot warp knitting machines and Raschel warp knitting machines were 187 and 605 units respectively, representing a year-on-year decrease of 12% and an increase of 64%; overall, there was a 36% growth.

For large circular knitting machines (cylinder diameter > 165mm) and small circular knitting machines (cylinder diameter≤165mm), the export volumes were 64,909 and 69,552 units respectively in 2024, showing a year-on-year decrease of 17% and an increase of 6%; overall, there was a 6% decline.

In 2024, customs data indicated that among woven equipment exports, narrow-width water-jet machines, non-powered looms and wide-width water-jet machines were the main types, accounting for 45%, 16% and 14% respectively. The total export volume of woven equipment in 2024 was expected to be 111,856 units, a year-on-year decrease of 51%. Specifically, narrow-width water-jet and wide-width water-jet looms were expected to be 50,131 and 15,556 units, showing year-on-year decreases of 65% and an increase of 4% respectively.

From the perspective of equipment export trade partners, the main target countries for increased exports of domestic chemical fibers in 2025 can be focused on Vietnam, India, Egypt, Turkey, Indonesia and Bangladesh.