Demand for fibers may see falling growth rate in 2022

Demand for fibers may see falling growth rate in 2022. On one hand, the spread of pandemic is continuing in local China. The economic pressure intensifies. Downward real estate industry and stagnation coexists. Economy may have limited further upward space amid high cardinal number. Domestic consumption of textiles and apparels is expected to see falling growth rate than 2021. On the other hand, loose monetary policy outside China may gradually withdrawal. Replenishment from US and Europe is anticipated to reduce. With alleviated pandemic outside China, the production of textiles and apparels has recovered in Southeast Asia. That means the replacement effect of China to Southeast Asia may weaken. Exports of textiles and apparels may fall from high growth rate in 2022.