Textile Chemicals Market in China to Grow at Over 9% Until 2019, Says TechSci Research
Summary
China’s textile and clothing exports grew by 11.4% in 2013 as compared to 2012 on account of increasing demand for men’s formal and casual wear, carpets and home furnishing products, globally.Under the country’s 12th five year plan, the government has set targets towards encouraging product innovation, replacing obsolete machinery and providing financial assistance to enterprises in Central and Western parts of China.Such government initiatives are likely to boost new product development, and result in introduction of high performance textile chemicals, thereby driving market competitiveness in the coming years.China’s textile and clothing exports grew by 11.4% in 2013 as compared to 2012 on account of increasing demand for men’s formal and casual wear, carpets and home furnishing products, globally.Under the country’s 12th five year plan, the government has set targets towards encouraging product innovation, replacing obsolete machinery and providing financial assistance to enterprises in Central and Western parts of China.