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Impact of the Corona-Pandemic on the Global Textile Industry

4th ITMF-Survey about the Impact of the Corona-Pandemic on the Global Textile Industry

Between May 20th and June 8th, 2020, ITMF has conducted its 4th ITMF Corona-Survey among ITMF members and affiliated companies and associations about the impact the Corona-pandemic had on the global textile value chain. In total around 600 companies from around the world participated.

Impact of the Corona-Pandemic on the Global Textile Industry 4
Graph 1: Worldwide, current orders are down by -42% on average.

Source: ITMF

On a global scale, current orders continue to be down on average by more than -40% (Graph 1).When looking at expected turnover in 2020 compared to 2019, the expectations remained unchanged since the 3rd ITMF Corona- Survey. On average, companies are expecting their turnover to plummet by -32%. The range between regions differs with from -22% in South East Asia to -36% in East Asia (Graph 2).

Impact of the Corona-Pandemic on the Global Textile Industry 4
Graph 2: Worldwide, expected turnover 2020 is down by -32% on average (versus 2019).

Source: ITMF

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

Impact of the Corona-Pandemic on the Global Textile Industry 4
Graph 3: In all segments of the global textile value chain orders are down in the range of -37% to -46%. Turnover 2020 is down in the range of -26% to -34% compared to 2019.

 

Asked when pre-crisis levels are reached again, the majority (23%) is expecting this to be in the 1st quarter of 2021, followed by 21% that are expecting this to be the case in the 2nd quarter of 2021. Another 14% have the expectations that this will be the case in the 3rd quarter of 2021. Nevertheless, 20% of companies are expecting a faster recovery in the 4th quarter of 2020 (Graph 4).

 

Impact of the Corona-Pandemic on the Global Textile Industry 4
Graph 4: 44% expect that pre-crisis levels are reached again in the 1st or 2nd quarter of 2021.

 

 

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