Shen Shoubing, Chief Technology Officer from Shanghai Mercury Home Textiles Co., Ltd., delivers his report of Home textiles market status and outlook of fiber demand
The report was divided into five parts.
In the first part, Mr. Shen made a review on 2021 home textiles industry. The performance of listed home textiles companies painted a rosy picture with revenue increasing on year and net profits improving significantly.
In the second part, Mr. Shen introduced the impact from the pandemic on home textiles industry in H1 2022. The sales were largely stable under pressure. The business climate fell to negative territory. Revenue and profits of bedding, towel, fabrics decreased, especially for towel. In terms of selling mode, online selling, live streaming selling and community marketing enhanced, benefited from standardized home textile products, change of selling channels, and the rise of leading companies. In terms of product structure, the function of product kept increasing and the development of functional home textiles was fast.
In the third part, Mr. Shen analyzed the export situation of home textiles. In the first half of 2022, the exports kept slight increase, while the growth rate slowed down sharply. Bedding and curtain products recorded decline in exports while blanket and table linen exports kept fast growth, and towel, carpet, and other decoration products saw slight increase in exports.
In the fourth part, Mr. Shen gave a forecast on home textiles market for the latter half of 2022. The industry is under pressure from the pandemic, geopolitical issue, economic risk, US sanction on Xinjiang cotton, climate issue, and the changing feedstock cost. There鈥檚 uncertainty and pressure especially on exports.
Lastly, Mr. Shen introduced the demand for cotton fiber and application in home textile industry. In terms of beddings, the fillings of quilt are mainly chemical fibers, while cotton is the mainly material for facing fabric. Towel is mostly made of cotton, fabric products and curtain are mainly made of blended fabrics. Functional, healthy and comfy products will be the trend of development of cotton, yarn, fabric.
