Specialty Textiles expected to grow in 2012

March 06, 2012 - India

Global specialty textile market grew by about 2.5 percent to 3 percent in 2010, due to enhanced international economic situation. Global specialty textile market raised about 2.5 percent to 4 percent in 2011, due to the increase of global GDP; global specialty textile market is expected to grow by 4 percent in 2012.

China itself accounts for 51.7 percent of U.S specialty textile imports, forming a foremost position on the market. Specialty textiles imported by the United States reduced by about 3 percent in 2011, which are much lesser than 2010. Specialty textiles imported by the United States increased by 21 percent in 2011 compared with the previous year. In addition, India, Pakistan, Mexico, South Korea, Canada and Vietnam joined the second tier of specialty textiles import market in the United States in 2011.

Mexico is one of the countries for U.S specialty textiles exports. In 2011, Mexico's market share dropped by 37 percent, moreover the share declined in 2010, total decline was 39 percent. Canada was in second position; total decline was about 18 percent. Hong Kong, China held a 5.4 percent share.