China's Technical Textile Prices Jump 16% to $7,990/Ton

China Technical Textiles Export Price in February 2023

In February 2023, the technical textiles price stood at $7,990 per ton (FOB, China), rising by 16% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($13,448 per ton), while the average price for exports to Bangladesh ($4,217 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

China Technical Textiles Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was textile wicks, woven, plaited or knitted; for lamps, stoves, lighters, candles or the like; incandescent gas mantles and tubular knitted gas mantle fabric therefor, whether or not impregnated ($29,470 per ton), while the average price for exports of textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material ($4,080 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for the following types: textile wicks, woven, plaited or knitted; for lamps, stoves, lighters, candles or the like; incandescent gas mantles and tubular knitted gas mantle fabric therefor, whether or not impregnated (+5.9%), while the prices for the other products experienced more modest paces of growth.

China Technical Textiles Exports

In February 2023, approximately 8.9K tons of textile products and articles for technical uses were exported from China; waning by -37% compared with January 2023 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2022 when exports increased by 43% month-to-month. Over the period under review, the exports attained the maximum at 15K tons in June 2022; however, from July 2022 to February 2023, the exports stood at a somewhat lower figure.

In value terms, technical textiles exports declined markedly to $71M (IndexBox estimates) in February 2023. Overall, exports, however, showed modest growth. The pace of growth was the most pronounced in March 2022 with an increase of 45% month-to-month. Over the period under review, the exports hit record highs at 109K tons in July 2022; however, from August 2022 to February 2023, the exports stood at a somewhat lower figure.

China Technical Textiles Exports by Type

Textile products and articles for technical uses; specified in note 7 to this chapter (5.5K tons) was the largest type of technical textiles exported from China, accounting for a 62% share of total exports. Moreover, textile products and articles for technical uses; specified in note 7 to this chapter exceeded the volume of the second product type, textile hosepiping and similar textile tubing (1.9K tons), threefold. Textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material (1.4K tons) ranked third in terms of total exports with a 16% share.

From February 2022 to February 2023, the average monthly growth rate of the volume of export of textile products and articles for technical uses; specified in note 7 to this chapter was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: textile hosepiping and similar textile tubing (-1.7% per month) and textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material (+0.6% per month).

In value terms, textile products and articles for technical uses; specified in note 7 to this chapter ($57M) remains the largest type of technical textiles exported from China, comprising 80% of total exports. The second position in the ranking was taken by textile hosepiping and similar textile tubing ($8M), with an 11% share of total exports. It was followed by textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material, with an 8% share.

From February 2022 to February 2023, the average monthly growth rate of the export volume of textile products and articles for technical uses; specified in note 7 to this chapter totaled +1.5%. With regard to the other exported products, the following average monthly rates of growth were recorded: textile hosepiping and similar textile tubing (-2.1% per month) and textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material (+0.6% per month).

China Technical Textiles Exports by Country

The United States (765 tons), Vietnam (605 tons) and India (493 tons) were the main destinations of technical textiles exports from China, with a combined 21% share of total exports. These countries were followed by Indonesia, Russia, Australia, Malaysia, Brazil, Japan, South Korea, Mexico, Germany and Bangladesh, which together accounted for a further 41%.

From February 2022 to February 2023, the biggest increases were in Indonesia (with a CAGR of +10.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($5.2M), Russia ($4.7M) and Vietnam ($4.3M) were the largest markets for technical textiles exported from China worldwide, together comprising 20% of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +6.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform