Published on : Jul 25, 2016
ALBANY, New York, July 25, 2016: Home textiles are primarily used in public places and houses for bathroom accessories, kitchen supplies, living room accessories, and bedding. By 2015, there were approximately 2,000 home textile organizations, whose yearly sales revenue crossed CNY20 mn. However, by 2015, more than 10,000 home textile enterprises registered an annual sales revenue of just under CNY20 mn. These are the findings of a new report recently added by ResearchMoz.us to its database.
The report, titled ‘China Home Textile Industry Overview, 2011-2020,’ defines home textiles and then analyzes the major raw materials used for producing textiles. Home textiles, industrial textiles, and clothing textiles constitute the global textile industry. In China, the home textile industry is expected to expand rapidly during the period from 2011 to 2020, predict the analysts. Home textiles are primarily used in public places and houses. Cotton, accessories, and chemical fiber are the key raw materials used in the home textile industry.
The raw materials cost accounts for nearly 50% of the production cost of home textile enterprises. As per the findings of the research, changes in the cost of raw materials are likely to affect the home textile industry. From finished products to raw materials, China houses an entire chain of the textile industry. Thus, in the coming five to ten years, leading players operating in the China home textile industry will not be affected by the increasing demand for products from Southeast Asia, predict the report’s authors. The research states that the China home textile industry will benefit from the economic development underway in the country and rapid urbanization.
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For analyzing the level of competition, the report lists five major areas in China where the home textile industry is widely spread. In China, the home textile industry is spread across Guangdong Province, Jiangsu Province, Shanghai, Shandong Province, and Zhejiang Province. Leading players are currently concentrating on these areas to spread their newly manufactured products.
Sunvim Group Co., Ltd., Luolai Home Textile Co., Ltd., Shenzhen Fuanna Bedding and Furnishing Co., Ltd., Shanghai Shuixing Home Textile Co., Ltd., and Hunan Mendale Home Textile Co., Ltd. are some of the leading players operating in the China home textile industry. The report’s authors expect mergers and acquisitions to help leading players increase their share in the market and thus maintain their dominance. However, with mergers, the new entrants get a chance to adopt the new technologies and be competitive in the market.
The study highlights the many barriers that new entrants have to face while entering the China home textile industry. Despite these, local textile manufacturers are expected to face increasing competition from the brands, while the rising demand for branded home textile products is a major challenge for the new entrants. Lack of technical knowledge, improper marketing networks, and insufficient investments in research and development activities can affect the new entrants. The presence of many leading players and the entry of new players has made the China home textile industry highly competitive.
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