Asia Pacific is likely to remain the dominant supplier of industrial textiles for the US. The imports from the region remained steady during the last 2 quarters, but imports from Europe witnessed fluctuations as the continent is facing an upheaval on the economic front due to the Ukraine war. US imported industrial textiles worth $158.742 million in Q3 2022.
The US’ imports of industrial textiles were almost stable in the last two quarters. Trade stood at $408.493 million in Q3 2022 and $408.712 million in Q2 2022. Imports increased in Q2 2022 from $381.332 million in Q1 2022. The inbound shipment amounted to $392.947 million in Q4 2021, $401.474 million in Q3 2021 and $384.238 million in Q2 2021, according to Fibre2Fashion’s market insight tool TexPro.
US' imports of the products from Europe declined to $158.743 million in July-September 2022 from $172.482 million in April-June quarter of the current year. However, the imports rose compared to January-March 2022 quarter when the inbound shipment was recorded at $127.830 million. The imports were at $140.364 million in Q4 2021, $143.011 million in Q3 2021 and $148.083 million in Q2 2021. The trade kept declining until the first quarter of this year and improved in Q2 only to slip again in Q3 2022, as per data obtained from TexPro.
Within Asia-Pacific, China, Australia, and India are the major suppliers of industrial textiles. A few European countries are also important suppliers of the products, but a steep hike in crude oil and other energy derivatives has negatively affected industrial activities in Europe.
Fibre2Fashion News Desk (KUL)