Survey: Global textile value chain sees 9% decline in 2020
Posted April 8, 2021
ZURICH – Between January 25 and March 10, ITMF (International Textile Manufacturers Federation) conducted its seventh ITMF Coronavirus Survey among ITMF members and affiliated companies and associations about the impact the coronavirus pandemic has on the global textile value chain.
In total, 196 companies from around the world participated. The first ITMF Coronavirus Survey was conducted in March 2020 when the first lockdowns were announced in Europe.
The seventh survey revealed that actual turnover in 2020 was -9% lower compared to 2019 (see Graph 1). While this decrease is significantly better than the expected drop of -33% in the third survey at the height of the first COVID-19 wave in April 2020, the year 2020 will go down into history as one of the worst years for the global textile and apparel industry.
In comparison to the expectations expressed in the sixth ITMF Coronavirus Survey (November 20-December 14, 2020), actual turnover for 2020 compared to 2019 has improved by 3 percentage points from -12% to now -9% (Graph 1).
As could be expected the entire textile value chain was hit hard by the pandemic, including textile machinery producers. Practically all segments under review were impacted negatively to different degrees in 2020 (see Graph 2). The two segments standing out positively are the producers of nonwovens (+/-0%) and of fibers (+10%). It can be assumed that those two segments have benefitted from the extraordinary demand for masks during 2020, which compensated to a significant extent for the loss in other areas like automotive or apparel.
For 2021 and the following years up to 2024, turnover expectations are positive (see Graph 3) and have overall not changed compared to previous surveys. On a global level, turnover expectations are especially strong for 2021 and 2022, an indication that companies are expecting a strong recovery.
For 2023 and 2024, companies’ growth expectations are weaker. Looking at the various regions the most striking result is the positive expectations of companies in Africa (+31% by 2024), compared to the other regions that range between +12 and +21%.