The world’s second largest economy is expected to cool further this year following a sustained downward trend in domestic demand and trade relations with the US, according to a Reuters poll, triggering the need for more stimulus measures from Beijing.

 

China’s economic growth is expected to fall to 6.3% this year from an anticipated 6.6% in 2018, according to the average of 85 economists polled by Reuters. This would be China’s slowest year-on-year growth in almost three decades.

 

A strong start in 2018 soon began to slide as the overhang of Beijing’s credit crackdown and the onset of the trade war with Washington darkened market prospects. Growth for the fourth quarter is expected to be 6.4% but some analysts believe that this could be even lower based on recent weaker-than-expected industrial data.

 

“We expect the economy to soften further this year. Domestic headwinds are likely to stay strong,” analysts at Capital Economics said in a note.

 

 

 

China’s state-owned enterprises (SOEs) posted record high earnings for last year, despite economic pressures weighing heavily on private sector growth, the South China Morning reports.

 

Government-owned companies took in RMB 29.1 trillion ($4.3 trillion) in 2018 – a 10.1% increase from 2017, according to official figures. Profits grew even faster by 15.7% compared with a year earlier, totalling RMB 1.2 trillion.

 

SOEs benefitted from stable growth in the domestic economy and recent measures to bolster the public sector, said Peng Huaguang, a spokesman for the state asset oversight agency which published the data. Better risk management and cost cutting during the slowdown also helped SOEs achieve record profits.

In contrast, China’s private sector continues to show signs of struggle amid tighter financing conditions towards the end of the year. In addition to slowing growth, private firms are facing increasing default rates on outstanding loans, which non-performing loan ratios as high as 4.7% in some sectors compared with the average 1.7% across all Chinese bank loans, according to Moody’s estimates.

 

 

The country’s Ministry of Finance and central bank appear to be at odds over whether to use treasury bonds to boost liquidity into the flagging economy, Caixin reports.

 

This week two senior officials at the finance ministry recently called for use of treasury bonds as a quasi-currency, claiming that bonds have been used as the main collateral for the central bank’s monetary policy tools such as the medium-term loan facility (MLF).

 

The People’s Bank of China, meanwhile, has downplayed the idea. One source told Caixin that treasury bonds, despite being high-quality liquid assets, cannot be considered a quasi-currency as they are not a payment tool.

 

Liquidity levels are already sufficient, the source added, saying that a large-scale injection through quantitative easing is not necessary to provide financial support for the real economy.

 

 

White House officials have denied that Treasury Secretary Steve Mnuchin proposed removing tariffs on Chinese imports in order to calm markets and induce further concessions from Beijing during the next round of trade negotiations.

 

According to the Wall Street Journal, Mnuchin raised the possibility in a series of strategy meetings, presenting the move as a means of achieving longer-term reform commitments. This would coincide with the next visit by Chinese Vice Premier Liu He to Washington on January 30.

 

It could be an arrow in the quiver of US negotiators, said one source informed of the talks.

 

It is likely that such a decision would meet resistance from China hawks in the administration such as US Trade Representative Robert Lighthizer, who is leading the trade talks on the American side.

 

The reports were quickly refuted by officials, one of whom said No new tariff decisions have been made. We are focused on the current 90 day period and the expected high level visit by China Vice Premier Liu He at the end of this month.

 

 

The revolutionary development in artificial intelligence and machine learning, and its dramatic consequences, is a global economic upheaval and one that will both provide opportunities for and challenge India dramatically. Discussing India's response to this global upheaval, Martin Wolf, associate editor and chief economics commentator, Financial Times, London, said, “India needs to devote careful thought to the domestic implications of the revolution in artificial intelligence.” He explained, “As a country with a growing population and labour force and huge employment in services, the implications might be very radical, both creating and destroying opportunities on a massive scale.” Wolf, who delivered the seventh NCAER CD Deshmukh Memorial Lecture 2019 in New Delhi on Tuesday, spoke on the theme of Challenges for India from the Global Economic Upheavals. The other upheavals he addressed were the rapid economic rise of Asia, the strategic rivalry between the US and China, growing protectionism in the US and the associated erosion of the liberal global economic order and the threat of climate change.    

 

 

A R200-million programme by South Africa has successfully revived the country’s cotton industry by unlocking private sector investments and buying power worth hundreds of millions. The programme, known as Sustainable Cotton Cluster and funded by the department of trade and industry (DTI), will end in March, when a decision will be taken on its extension. One such investment is the R72-million Loskop Cotton ginnery outside Marble Hall in Limpopo, which has just started operating and will enable further cotton production in the region and offer employment to local people. Further industry investments have been made in another ginnery as well as 11 cotton strippers and 24 cotton pickers. These big machines cost up to R10 million each. 


The programme started five years ago with in-depth research to determine the demand, the state of each element in the whole supply chain and ways of optimising production, according to South African media reports. 


When retailers got on board the programme, funding became much more readily available and as a result, cotton production has grown from 25 000 bales of lint in 2013 to more than 200 000 bales in the past season. The number of small-scale farmers in the Marble Hall area alone grew from not more than 10 to 240. 
The cluster has also promoted and trained producers in the sustainable principles and methods of the Better Cotton Initiative (BCI) and 40 per cent of the cotton farmers are now BCI licensed. For the past season 32 per cent of the lint bales are BCI-compliant, which is of further appeal to the global cotton market. 
For retailers supporting the local industry, however, it makes absolute sense as it would mean more flexibility to adjust to fashion trends and market demand, which reduces risk. The one factor that currently limits growth in production is the availability of funding, especially for small-scale farmers who rent communal land.

 

 

Scientists at the University of Toronto’s Rochman Lab are exploring how effective are washing machine filters at lowering the quantities of textile-derived microfibres that make their way into water treatment plants. In the next step, the university is now working with environmental charity Georgian Bay Forever on a two-year project for their research. The project will see filters fitted to around 100 domestic washing machines in Canada’s Ontario region. The researchers see filters as a low-cost solution to prevent as high as 89 per cent of microfibres from travelling onwards towards marine ecosystems, according to a paper published in the Elsevier journal ‘Marine Pollution Bulletin’. 


Microfibres are anthropogenic fibres less than 5 mm in length, many of which are microplastics. Widespread contamination around the world makes microfibres one of the most prevalent types of microplastics in surface water, soil, biota and atmospheric samples. Microfibres enter the environment from several sources, and one known route is through washing our clothing. Studies show that a single load of laundry can release thousands of microfibres into washing machine effluent, and when washing effluent is carried to a wastewater treatment plant, some microfibres are released directly into aquatic ecosystems. Lisa Erdle, PhD student at the institute, is investigating microfibre contamination in wild-caught fish from the Great Lakes and is studying the effects of microfibres when ingested by wildlife. She is also leading this pilot project. 

 

 

India ITME Society’s much awaited key event of 2019, GTTES 2019 opened today with new optimism, new opportunities & newprospects for the textile industry with 400+ Exhibitors, 49+ Countries & 65 International Business Delegations. Esteemed Dignitaries from Embassies & Ministry & numerous guests from Industry along with International business delegates attended the opening ceremony of this Textile Technology & Engineering event


With a commendable growth of 26%, GTTES has set the standard in its very 2nd Edition & is a testimony to global reach of GTTES as a trusted opportunity for business & gateway to India. First time participation from Sri Lanka & Slovenia and countries like Belgium, China, France, Germany, Italy, Japan, Spain, Turkey, UK, USA, Taiwan, Morocco, Algeria, Djibouti, Kuwait, Azerbaijan, Kyrgyzstan, Senegal etc. indicate that this event has achieved its place as a reliable international business platform for both domestic and overseas companies. 


GTTES 2019 shall facilitate interaction with all Export Promotion Councils which again shall help industry to know more about export opportunities, various Government subsidies, market initiative schemes available for Indian manufacturers & help to gain information and develop new opportunities for exports from India.


The product launch of Colorix Digital Printing Solution by Orange Group to unveil dye-sublimation solution at GTTTES was again a highlight of the event.


Concurrent to GTTES 2019 India ITME Society also proudly announced the Launch of an International Event – ITME AFRICA 2020. Set to initiate a revolution in generating employment, encouraging skill development, motivating entrepreneurship in Textiles, ushering investment, economic growth and thus bringing new aspirations for younger generation of African countries, 1st edition ITME Africa is to be held in Millennium Hall, Addis Ababa, Ethiopia from 14th to 16th February 2020. In a first of its kind joint venture, India ITME Society and Ethiopian Chamber of Commerce and Sectoral Association (ECCSA) a premier organization in Ethiopia, along with International Trade Center brings this unique and exclusive business facilitator opening up an entire continent of new opportunities. This event was exclusively covered by CNBC.


With an effort to open up all possible opportunities for Trade & Investment with other countries & to review & expand further trade activities in this regard India ITME Society had invited several foreign buyers / delegates from Egypt, Ethiopia, Bangladesh, Sudan, Rwanda, Uganda, Ghana, Nepal, Tanzania, Russia & Cambodia for B2B meetings. In the specially designed B2B matchmaking area, the registered participants had a chance to meet with International Business delegates, with a personalized service which gave them an opportunity to make the right connections with the right people they wanted to meet through prearranged meetings. This initiative showed tremendous response & many of the interested participants had to be waitlisted.


Apart from the B2B meetings, there was an Industry Interactive Session to facilitate Govt / Industry Interaction. Ms. Surina Rajan, IAS, Director General, Bureau of Indian Standards (BIS) was available for open interaction with Industry members. This helped the Industry in direct representation towards formulation of policy for standardization, promoting exports / imports & control proliferation. The main points of discussion  included, Overview of Standardization work done by BIS in the field of Textile Machinery and Accessories. Issues related to Noise emissions and Safety aspects of textile machinery and adoption of related ISO standards & Inputs required for identified new subjects such as Embroidery Machines and Baby diaper making machines.


GTTES 2019 is the apt platform to connect the exhibitors with many new markets which has never looked at India as sourcing opportunity.  Both for Indian manufactures and foreign exhibitors this new and developing markets shall bring future opportunity for business and expand their customer networking in an unprecedented way.


GTTES is a must to visit event for every big, small companies in textiles and textile engineering as it is the largest and key business event for the year 2019.
GTTES 2019 – Marching Ahead With Technology For The Textile World

 

 

BASF and Adani Group have signed a memorandum of understanding (MoU) on the eve of the Vibrant Gujarat Global Summit, to evaluate a major joint investment in the acrylics value chain. This would be BASF’s largest investment in India to date. The designated site will be at Mundra port in Gujarat, India. A feasibility study will be completed by 2019 end. According to the MoU, BASF and Adani want to establish a joint venture with an investment totaling about €2 billion (approximately INR 16,000 crore), in which BASF will hold the majority. The potential investment comprises the development, construction and operation of production plants including propane dehydrogenation (PDH), oxo C4 complex (butanols and 2-ethylhexanol), glacial acrylic acid (GAA), butyl acrylate (BA) and potentially other downstream products. The products are predominantly for the Indian market to serve a wide range of local industries, including construction, automotive and coatings, whose growing demand is currently supplied via imports, thus supporting the 'Make in India' initiative. "India continues to be a very large importer of petrochemicals given the rapid expansion of the middle class, and this leads to a significant outflow of precious foreign exchange. Our partnership with BASF is a big step forward in enabling our country’s 'Make in India' programme, as this partnership will allow us to produce in Mundra several of the chemicals along the C3 chemical value chain that we are currently importing. Mundra’s infrastructure is ideally suited to enable chemicals production, and our ability to deliver renewable power makes this a unique partnership on several fronts," GautamAdani, chairman of the Adani Group, said.

 

"BASF’s intention to invest in a major new site for the acrylics value chain in India clearly demonstrates our strong and long-term commitment to our Indian customers. Together with the Adani Group, we would have the opportunity to provide our customers with high-quality chemicals and support them in growing their business. With our production powered by renewable energy, we would be able to minimize our impact on the environment," said Dr. Martin Brudermüller, chairman of the board of executive directors, BASF.

 

 

In line with BASF’s carbon neutral growth strategy, the chemical site in Mundra would be the company’s first CO2-neutral production site. The companies have developed an overall plan including new technologies and the supply of the site with 100 per cent renewable energy. Therefore, in addition to the investment outlined in this MoU, BASF plans to co-invest as a minority partner in a wind and solar park. 

 

 

Global flame retardant sales reached nearly 192 million square meter in 2018, with momentum likely to drive the market to a 6.2% y-o-y in 2019, according to Fact.MR’s latest analysis. Imposition of stringent regulatory rules and growing awareness about workers’ safety in high-risk industries worldwide continue to drive growth. Gains have also been driven by macroeconomic factors, notably stability in global oil prices and capital injection in infrastructure projects. The study opines that effective implementation of workplace safety guidelines in developing countries can open up new opportunities for manufacturers.

 

“Not protecting their employees with good-quality flame retardant apparels can cost employer organizations a fortune with the medical care and rehabilitation of injured employees. Apart from strict legal regulations, growing safety awareness among employees is driving the purchases of flame retardant apparels across several industries,” says senior research analyst Prakhar Jain at Fact.MR. “Flame retardant apparel market players are now focusing on improving comfort along with the safety of their products, and provide flame retardant apparels that can suit the end-users’ changing demands.”

 

Oil & Gas and Power Generation Industries Create Promising Growth Opportunities

 

According to the study, the oil & gas industry remains the largest consumer of flame retardant apparels.

 

The oil & gas industry is one of the high-risk industries that can pose serious harm to workers’ health and is prone to severe workplace accidents. Protective clothing, such as flame retardant apparels, have proven to be an effective safeguard against serious injuries and fatalities. The fatal accident rate (FAR) in the oil & gas industry decreased by approximate 36% in 2017 over 2016 as the number of fatalities decreased from 50 to 33 during the year, according to the reports filed by 45 oil & gas companies associated with the International Association of Oil & Gas Producers (IOGP) organization. The study opines that the effectiveness of protective clothing in improving worker safety will continue to drive sales in 2019 and beyond.

 

Demand for flame retardant apparels will be complemented by healthy adoption in the power industry. Evolving workplace safety regulation in power, electronics electrical, and automotive & transportation industries are also likely to influence growth.

 

European Market to Create Most Promising Growth Opportunities with Over One-Third Volume Share

 

The study finds EU at the forefront of global flame retardant apparel demand, with over one-third volume share in 2018. The constantly evolving regulatory framework for personal protective equipment in Europe has accelerated the demand for flame retardant apparels in the region. The mandatory conformity to the Regulation (EU) 2016/425 adopted by the European Commission has been instrumental in boosting growth of the Europe flame retardant apparel market.

 

Furthermore, rapidly growing oil & gas demand in the European Union has bolstered the expansion of the oil & gas industry in the region, which is likely to create positive growth environment for flame retardant apparel market players. Thereby, flame retardant apparel market players are shifting their focus on complying with the European regulatory framework and meeting the dynamic end-user requirements in the region.

 

The study predicts that the flame retardant apparel market will grow at an impressive 6.5% volume CAGR through 2027.

 

These insights are as per Fact.MR report projects an optimistic development for Flame Retardant Apparel Market in the future.

 

 

https://www.factmr.com/report/2830/flame-retardant-apparel-market

 

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