The textile industry is a traditional pillar industry and an important civilian production industry in my country's national economy. It is also an industry with obvious international competitive advantages. It plays an important role in prospering the market, expanding exports, absorbing employment, increasing farmers' income, and promoting urbanization. Beginning in 2018, the textile machinery industry has deeply promoted industrial upgrading, and has made considerable progress in new types of high efficiency, low energy consumption, flexibility, automation, digitalization, and intelligence. Through technological innovation and structural adjustment, the industry has developed steadily. Since 2019, the overall operation quality has been good. In 2019, the industrial added value of enterprises above designated size in my country's textile industry increased by 1.3% year-on-year.

The global textile industry shifts to Southeast Asian countries

In recent years, Southeast Asian countries have vigorously promoted economic development, actively attracted foreign investment, expanded opening up, and low labor costs. Southeast Asia has gradually won the favor of global textile industry capital. Well-known textile companies have followed the trend and built factories in Southeast Asia. The transfer of the textile industry will drive capital investment in fixed assets for production and increase the purchase demand for stenter setting machines.

Industrial upgrading of textile industry

With the improvement of people's living standards, the consumption concept of Chinese residents is also changing. my country's textile industry has also begun to develop towards high-end and branding, and the corresponding demand for mid-to-high-end stenters is also increasing. The "Textile Industry Development Plan (2016-2020)" issued by the Ministry of Industry and Information Technology proposes to insist on optimizing the structure of the textile industry, accelerating the use of advanced technology to transform and upgrade traditional industries, strengthen quality control and brand management, and expand the supply of high-end products. Compared with ordinary textiles, the microfiber fabrics of medium and high-end textiles have higher requirements for the color and comfort of the fabrics, and correspondingly higher requirements for textile machinery.

The development dilemma of the textile industry:

1. The homogeneity of low-end products is serious

At present, the textile machinery industry has fierce competition in the market, and the homogeneity of low-end products is serious, and counterfeiting and infringement have occurred from time to time. Enterprises with low product grades have gradually fallen into vicious competition with price war as the main means, which has affected the profitability and sound development of enterprises in the industry.

2. The product is greatly affected by external factors

The impact of domestic and foreign macroeconomic developments, macro policies, and major events on downstream industries will indirectly lead to cyclical changes in industry investment demand. If the growth rate of the macro economy continues to slow down and the macro economy fluctuates greatly, the economic prosperity may be transmitted gradually along the industrial chain, forming a phenomenon of "industrial prosperity rotation", which will adversely affect product demand.