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Kraig Biocraft Laboratories, Inc. has entered an agreement with the Vietnam Sericulture Association (VSA), marking a significant leap forward for the company's production ambitions. The agreement, disclosed today, unveils Kraig Labs' production plans for the next twenty-four months to the VSA, fostering a collaborative effort aimed at meeting production targets.
Central to the agreement is the VSA's commitment to aid Kraig Labs in securing formal intellectual property registration of its BAM-1 hybrid silkworm strain in Vietnam, reinforcing the partnership established in the Memorandum of Understanding earlier this year.
"This agreement signifies years of concerted efforts with various agencies to showcase our technology and its potential," stated Kim K. Thompson, Founder and CEO of Kraig Biocraft Laboratories. Thompson emphasized the strategic significance of the partnership with the VSA in advancing production goals and strengthening the company's foothold in Southeast Asia.
Le Quang Tu, President of the Vietnamese Sericulture Association, expressed optimism about the collaboration, citing Kraig's technology as a potential game-changer for the industry.
With CEO Kim K. Thompson on-site in Vietnam to oversee operations, Kraig Labs anticipates forthcoming updates on its accelerating progress in the weeks ahead. This landmark agreement underscores the company's commitment to innovation and strategic partnerships in revolutionizing the sericulture industry.
Alchemie Technology, a trailblazer in clean digital textile dyeing based in Cambridge, unveils its inaugural in-market production and demonstration facility in Nantou, Taiwan, solely dedicated to woven polyester. The launch of Alchemie’s Endeavour low carbon digital textile dyeing process sets a new benchmark, challenging conventional practices in the industry.
This technology heralds significant sustainability advantages over traditional methods. The transition from wet dyeing to dry processing slashes carbon emissions by up to 85 per cent and reduces wastewater by an impressive 95 per cent. Amid mounting concerns over the environmental impact of textile dyeing, Alchemie's innovation represents a pivotal shift towards eco-friendly practices.
The global textile industry stands as a major contributor to carbon emissions, with projections indicating a potential surge to 2.5 gigatons by 2050. Alchemie's initiative aligns with the imperative to achieve net-zero emissions by 2050 to avert catastrophic climate change. Additionally, as a leading contributor to industrial wastewater discharge, the textile sector underscores the urgency for sustainable solutions.
The inauguration of Alchemie's facility in Taiwan marks a crucial milestone in its 2024 roadmap, focusing initially on polyester woven fabrics with plans for expansion into other materials. Alan Hudd, Founder and CEO of Alchemie Technology, emphasizes the pressing need for action within the fashion industry, which accounts for a staggering 3 per cent of global emissions.
At the heart of Alchemie’s innovation lies its patented digitally controlled piezoelectric nozzle, ensuring unparalleled precision and efficiency. This technology not only enhances business prospects but also delivers tangible environmental benefits, fostering partnerships with industry leaders committed to sustainability. Alchemie's endeavor marks a significant leap towards a greener future in textile production.
In a landmark development for West Bengal's textile industry, Credo Centre of Excellence has joined forces with the government's Apparel Skill Council to inaugurate India's premier fashion incubation center in Kolkata. Endorsed by the Ministry of Skill Development and Entrepreneurship, this pioneering public-private partnership seeks to bridge skill deficiencies and cultivate entrepreneurial ventures in the apparel, home furnishing, and related sectors.
Pinaki Roychowdhury, trustee of Credo Foundation, hailed the initiative as the country's foremost fashion incubator and the first of its kind under a public-private model sanctioned by the Apparel Made Ups Home Furnishing Sector Skill Council (AMHSSC). The Kolkata hub aims to offer comprehensive support surpassing basic tailoring centers found elsewhere.
Despite a robust MSME garment manufacturing presence, West Bengal struggles with export performance due to outdated design, manufacturing, and supply chain capacities. The incubation center intends to empower entrepreneurs with essential skills in design, production, and market access over a span of 2-4 years, fostering growth until they achieve operational scale.
AMHSSC Chairman, Padmashree A Sakthivel, emphasized the center's mission to stimulate innovation and address skill gaps crucial for workforce success. Dominic Savio, Principal of St. Xavier's College, commended Credo's innovative blend of online and offline training, integrating theory with practical industry exposure.
With cutting-edge facilities and mentorship, the incubator is poised to revolutionize entrepreneurship and technological advancement within West Bengal's pivotal textile economy.
A report by Textiles Intelligence underscores the urgent need for the apparel sector to champion the development of a robust fibre-to-fibre recycled PET polyester industry. Predictions indicate that polyester will dominate more than half of global fibre production by 2030, maintaining its stronghold despite rising popularity in alternative fibres.
Key findings emphasize the exponential growth expected in polyester production, projected to exceed 80 million tonnes by 2030. To meet this escalating demand sustainably, the report advocates for the expansion of fibre-to-fibre PET polyester recycling (FFrPET) initiatives.
Major players are already taking strides in this direction. Eastman, a leading material innovation company, is investing in recycling plants utilizing methanolysis, with plans to triple its capacity by 2026. Similarly, Suez and SK Geo Centric are collaborating on a PET plastic and fibre recycling plant in France, leveraging Loop Industries technology to produce high-value materials.
Indorama and Carbios are pioneering enzymatic bio-recycling production plants, while Andritz Group is spearheading multiple recycling projects in France. Notably, Inditex has forged a strategic alliance with Ambercycle to establish a commercial-scale textile regeneration factory, committing to substantial annual purchases of regenerated polyester fibres.
These initiatives mark a pivotal shift towards circularity in the textile and apparel industry, aligning with escalating consumer demands for sustainability. The concerted efforts of industry giants underscore a collective commitment to mitigate environmental impact while meeting the burgeoning demand for polyester. As the sector steers towards a circular economy model, collaborative innovation remains paramount in realizing a sustainable future for fashion.
In a collaboration, Wazir Advisors, The Swedish School of Textiles - University of Boras, and the IIT, Delhi, have jointly released a whitepaper today. Titled ‘Positioning Indian Textile Recycling Ecosystem Globally: Setting the Strategic Intervention Areas for Future Road Mapping,’ the document signals a pivotal moment in the evolution of India's textile industry.
At its core, the whitepaper endeavors to catalyze a cross-border textile recycling value chain, harmonize market dynamics, and stimulate innovation through public-private partnerships. It delves into four critical dimensions imperative for the expansion of textile recycling ecosystems: optimizing value chains, synchronizing supply with market needs, designing sustainable ecosystems, and securing external support for equitable participation across the value chain.
A highlight of the report is the identification of 13 Strategic Intervention Areas (SIAs) deemed essential for the enhancement and valorization of India's textile recycling ecosystem. Authors including Rudrajeet Pal, Abhijit Majumdar, and Varun Vaid, emphasize the whitepaper's role in fostering collaboration and innovation to drive both economic prosperity and environmental sustainability.
Based on extensive research and fieldwork initiated in 2016 at The Swedish School of Textiles, the report draws insights from investigations in regions like Kandla SEZ and Panipat. Notably, the authors express optimism about ongoing strategic interventions, with grants from Indo-Swedish funding agencies. They anticipate the development of a data-driven decision support tool, poised to streamline operations within the intricate textile recycling value chain, benefiting both industry players and policymakers alike.
At the 41st annual general meeting in Dhaka, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) appointed certain new members to its board of directors. Prominent amongst these is the appointment of SM Mannan Kochi as the new president for the term 2024-2026.
President Kochi is joined by a prominent team including Syed Nazrul Islam as the first Vice President of the association, Khandoker Rafiqul Islam as Senior Vice-President, and Arshad Jamal Dipu, Md Nasir Uddin, Miran Ali, Abdullah Hil Rakib, and Rakibul Alam Chowdhury as Vice Presidents. This dynamic leadership is poised to drive the garment industry towards further growth and innovation.
The restructuring extended to include directors from Dhaka and Chittagong. Noteworthy members from Dhaka include Shahidullah Azim, Asif Ashraf, and Shovon Islam, while Chittagong is represented by figures such as Mohammed Musa and Amzad Hossain Chowdhury.
The consolidation of the leadership under the Sammilito Parishad underscores a unified vision for the industry's advancement. Kochi’s appointment marks a pivotal moment as he succeeds Faruque Hassan, taking on the responsibility to maintain the association's legacy of excellence and service.
The outgoing board facilitated a smooth transition, ensuring continuity and efficiency in BGMEA's operations. At the AGM, critical matters such as the adoption of audited accounts for 2022-2023 and the approval of the budget for 2023-2024 were addressed, reflecting the board's commitment to fiscal responsibility and transparency, crucial for sustaining the industry's competitiveness.
India’s cotton production is likely to decline by 2 per cent to 25.4 million bales of 480 Ib during the 2024-25 period, predicts Foreign Agricultural Service (FAS) by USDA.
Farmers are likely to divert their attention from cotton to crops like pulses, maize, and paddy due to their potentially higher returns, impacting cotton production.
The projected area under cotton cultivation is expected to decline to 12.4 million during this period. However, cotton yields are expected to rise by 2 per cent to reach 446 kilograms per hectare in the upcoming season.
Cotton consumption is also set to increase by 2 per cent compared to the previous year, reaching 24.5 million bales of 480 lb.
Cotton exports for 2024-25 are projected to hit 2.4 million bales of 480 lb, backed by higher carryover stocks and a depreciating rupee. The first six months of 2023-24 witnessed a significant rebound in exports of value-added cotton products, particularly cotton yarn and fabric, signaling resurgence in mill consumption.
With the removal of import duty on extra-long staple (ELS) cotton, imports are expected to rise by 20 per cent to 2.4 million bales of 480 lb.
China’s apparel industry faced numerous challenges in 2023. A slowdown in global economy, decreasing demand, trade wars put pressure on the clothing sector. And even in 2024 the challenges remain.
Statistical overview
As per Global Data, China’s apparel market size is CNY 2.89 trillion projected to grow at a CAGR of over 9 per cent from 2023-27. National Bureau of Statistics reveals apparel production of enterprises above designated size declined by 8.69 per cent year-on-year in 2023. At the same time, Domestic retail sales of apparel above designated size grew by 15.4 per cent year-on-year in.
As per China Customs, apparel exports were $159.14 billion, down 7.8 per cent year-on-year. The National Bureau of Statistics reveal investment in fixed assets decreased by 2.2 per cent compared to 2022. Total profit of apparel enterprises above designated size was CNY 61.38 billion, down 3.39 per cent year-on-year.
Challenges in moving ahead
One major challenge was weakening global demand due to a slowdown in major markets and rising competition from Southeast Asia threatening exports. Geopolitical tension was another hitch as trade protectionism and global instability create uncertainty. Also, high inflation and interest rates in developed economies limited consumer spending.
Domestic market a big opportunity
Economic stabilization and consumption recovery presented a strong domestic market. Government policies too promoted consumption and rising domestic incomes presented good opportunities to explore second-tier cities and emerging consumer groups.
Then the focus shifted to emerging markets which have the potential for faster growth in apparel demand also cross-border ecommerce was another lure. Growth in sportswear, Chinese fashion, and sustainability trends too offered new opportunities. This was also the time to move towards high-end, smart, and sustainable clothing. This was also the right time for digital transformation which involved upgrading manufacturing with intelligent equipment and supply chain optimization.
What 2024 beholds
In the international market there is potential for stable exports due to rising inventory demand in developed countries, growth in emerging markets, and cross-border e-commerce. However, challenges remain with trade protectionism and geopolitical risks; lagged effects of tightening monetary policy in major economies; increased competition from Southeast Asia and South Asia; potential appreciation of the RMB
However, the domestic market is expected to continue recovering due to favourable government policies promoting consumption; stable employment and rising incomes; new urbanization and rural revitalization strategies; rise of new consumer groups and trends.
Moving ahead apparel enterprises need to adapt to the evolving landscape by focusing on innovation, developing high-end, smart, and sustainable products. Building brand and channel strength. Expanding brand marketing and exploring new sales channels like e-commerce. Optimizing supply chains by improving efficiency and agility to meet changing demands. Targeting new markets and capitalizing on opportunities in emerging markets and catering to new consumer trends.
A new study by Price Waterhouse Cooper (PwC) titled 'From Shirts to Shores: Blueprint for Bangladesh RMG Industry' sheds light on an intriguing transformation within the global apparel sector towards garments made from man-made fibers (MMF). According to the report, there will be notable increase in MMF garment exports, with projections indicating an increase from 50 per cent in 2022 to 60 per cent by 2030. This transition carries profound implications not only for the textile industry but also for various stakeholders along the value chain.
Effects on raw material production
Traditionally dominated by cotton, the apparel industry is witnessing a shift towards MMF due to its inherent advantages such as wrinkle resistance, durability, and versatility. This change may potentially lead to a decline in demand for raw cotton, affecting countries reliant on cotton production. However, the overall impact might be cushioned by the anticipated growth in the global apparel market.
Fibre Production and Demand Dynamics
A critical aspect highlighted in the study is the capacity of fibre production to meet the escalating demand for MMF garments. With the global apparel market expected to grow from $953 billion in 2022 to $1,121 billion by 2030, the proportion of MMF garments is set to increase.
|
Year |
Global Apparel Exports ($billion) |
Share of MMF Items (%) |
|
|
2013 |
794 |
46 |
|
|
2022 |
953 |
50 |
|
|
2030 (Projected) |
1,121 |
60 |
While precise data on current and projected MMF production capacity is lacking, there is a possibility of a gap emerging between demand and supply. This gap could spur investments in MMF production to bridge the deficit.
Potential beneficiaries of growing MMF demand
The transition towards MMF garments offers promising prospects for several countries.
• MMF producers: Established MMF producers like China and India are poised to benefit significantly. Moreover, countries emphasizing innovation and the development of MMF technologies could emerge as frontrunners.
• Garment manufacturers: Nations with a robust presence in garment manufacturing, such as Bangladesh and Vietnam, have the opportunity to adapt their production capacities to cater to MMF efficiently.
• Fabric and yarn manufacturers: The heightened demand for MMF fabrics and yarns presents opportunities for manufacturers capable of meeting this growing market demand. Established producers like South Korea and Taiwan are well-positioned to capitalize on this trend.
• Fiber production: Countries specializing in the production of raw materials for MMF, such as polyester precursors, are expected to thrive. This could particularly benefit major chemical producers in regions like the Middle East and North America.
In essence, the PwC study underscores a significant shift towards MMF garments in the global apparel industry. While this transition brings forth numerous opportunities, it also raises concerns regarding potential disruptions in raw material supply and the capacity of fibre production to meet escalating demand. Countries adept at adapting to and capitalizing on this shift, particularly in MMF production, garment manufacturing, and fabric/yarn production, are poised to emerge as major beneficiaries.
Estimated at $10 billion in FY24, India’s home textiles market is slated to expand at 7 per cent CAGR over FY24-FY31 to $16 billion. As per a report by the Systematix Group, India accounted for almost 10 per cent of global home textiles trade in 2022. It currently is one of the top suppliers to the US, the world's biggest home textile consuming market.
India’s notable strides in quality improvement, innovations through R&D programs, and other preferential value-added features contributed to growing popularity of India's home textile products in the global market.
Renowned for their superior quality products, Indian companies have established themselves as leaders in the US and the UK, with these regions constituting two-thirds of India’s exports.
India has also emerged as a major exporter of home textiles with exports forecasted to grow at 8 per cent CAGR to $12 billion by FY31. The domestic home textiles market is also expected to grow with the demand for branded products continuing to rise in the country.
The value of the overall textile and apparel (T&A) market in India is estimated to have reached $175billion in FY24 as per Wazir Advisors. Of this, the domestic market contributed 79 per cent and exports accounted for 21 per cent of the market size. From $50 billion in FY11, India’s domestic T&A market is expected to have grown to $38 billion in FY24. The Ministry of Textiles expects the market to grow faster than the global textile industry at 9 per cent CAGR to $250 billion by FY31.
