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19 May 2015

Industry

Textiles Take on New Trends – USD4.6 billion Export Forecast for 2015 (Current Issue No. 2628 Full Ed.)

คะแนนเฉลี่ย
KResearch projects that Thai textile exports may reach USD4.4-4.6 billion this year, thus a 5.0-percent drop or perhaps only unchanged performance YoY. Products expected to drive our textile shipments include quality fabrics and synthetic fibers that are in high demand particularly within ASEAN apparel manufacturers, e.g., CLMV+I. Apparel business in Myanmar, Vietnam and Indonesia has been thriving on influx of FDI, benefitting Thailand as an exporter of raw materials. Although our trade partners have continued to buy from us, their orders have been limited given that our products are pricier than China, India and Vietnam.
To remain profitable, Thai suppliers must formulate strategies that match consumer trends in lucrative markets, i.e., ASEAN, the US, EU, Middle East, and elsewhere that we have FTAs. Prevailing consumer trends feature technical textiles, environmentally-friendly/organic materials, specific items for aging consumers, as well as materials used in midstream and downstream manufacturing. This presents good opportunities for Thailand as we are skillful in manufacturing these higher value products under growing demand and satisfactory market prices.
Textile business today involves aggressive competition. Not only are businesses – both manufacturers and importers – being dragged into price wars, they are fighting neck and neck to raise their quality standards and are seeking to offer new alternatives to customers. In order to meet that challenge, Thai textile companies should set clear business directions, study market demand and try to calculate future trends prior to engaging in product development using data derived from that research.

We recommend that Thai companies make the most of our strengths, e.g., abundant natural materials, traditional weaving skills, while also utilizing innovations that improve their products' technical characteristics; this would create product differentiation. Our textile businesses, by following these guidelines, should be able to overcome commercial obstacles and achieve sustainable viability in global markets.

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