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| DTY production facility in Huangjing, a city in Jiangsu province known for chemical fiber production (Photo: Shenjiu Chemical Fiber) |
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The China Chemical Fibers Association anticipated a 10% growth of the sector to a volume of 29.8 million tons due to an economic recovery and raw material price hikes in the chemical fibers industry.
The association also expected an increase of 5% to 900,000 tons in import of chemical fiber products in 2010. Exports from China will be close to 2 million tons, up 35% from the same period of last year. Profits of major players will reach RMB12-13.5 billion, according to the estimates of the China Chemical Fibers Association.
Existing figures from the association showed that the production volume of the sector in China reached 14.4739 million tons in the first half of 2010, up 13.43% from the same period of last year. An import volume of 365,900 tons was registered in the same period under review, while exports were 792,000 tons, representing a rise of 50.21%. There were 195 new projects invested and new invested capital reached RMB 14.838 billion, up 29.25% from the first half of last year.
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