Sunday, October 6, 2013

Spinning Mill.


Textile Mills in Canada Industry Market Research Report Now Available from IBISWorld


Los Angeles, CA (PRWEB) October 07, 2013

The Textile Mills industry, which has been in decline for decades, has continued to struggle during the past five years. The Great Recession and ensuing slow recovery heightened consumers' price sensitivity, which further entrenched preferences for low-cost apparel manufactured abroad; distant apparel manufacturers are unlikely to source their textiles from industry operators. Additionally, according to IBISWorld Industry Analyst Hayden Shipp, “the dollar's appreciation had a negative impact on sales of technical textiles and home furnishing textiles, potential growth segments that also declined due to foreign competition.” These trends have resulted in annualized revenue loss of 6.0% during the past five years to about $2.7 billion. Revenue is expected to decline 8.2% in 2013 as foreign competition advances and per capita disposable income growth slows.

Technical textiles and home furnishing textiles are promising for Canadian manufacturers for the same reasons they are driving growth for US textile producers. Technical textiles require well-funded research and development (R&D) programs alongside advanced production techniques, and home furnishing textiles are made entirely through highly automated processes. Both conditions reduce the competitive advantage of producers located in countries with low labour costs. However, according to Shipp “many of the recent sales of these products in Canada and the United States, where more than a third of revenue is generated, have been made by US firms.” As such, the US textile industry's consistent growth since 2010 has come partly at the expense of the Canadian industry, which reported revenue declines every year of the past decade.


During the next five years, revenue losses are forecast to decelerate to an annualized rate of 3.7%, bringing revenue to about $2.2 billion. The dollar is expected to appreciate at a slower rate than the US dollar, making this industry's products more price-competitive with US technical and home furnishing textiles. However, the recent and significant investments in R&D and automated machinery by US firms will sustain their competitive advantage for many textiles in their home and international markets. Furthermore, Chinese imports will continue to grow at a fast pace as China's rising labour costs encourage investment in automation for technical textile and home furnishing textile production. Also, Canadian apparel manufacturers are expected to keep closing their doors, further shrinking the market for industry goods.


For more information, visit IBISWorld’s Textile Mills in Canada industry report page.


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This industry is comprised of a variety of textile manufacturers. Industry firms engage in one or more of the following activities: spinning yarn from natural or synthetic fibres; manufacturing knit, woven or nonwoven fabrics; and finishing and coating textile products. This report does not include carpet and rug mills. Industry Performance Executive Summary Key External Drivers Current Performance Industry Outlook Industry Life Cycle Products & Markets Supply Chain Products & Services Major Markets Globalization & Trade Business Locations Competitive Landscape Market Share Concentration Key Success Factors Cost Structure Benchmarks Barriers to Entry Major Companies Operating Conditions Capital Intensity Key Statistics Industry Data Annual Change Key Ratios About IBISWorld Inc. Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772. Read the full story at http://www.prweb.com/releases/2013/10/prweb11199454.htm Read more: http://www.digitaljournal.com/pr/1511537#ixzz2h9N920pd

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