Between 5-25 September 2020, the International Textile Manufacturers Association (ITMF) conducted its 5th ITMF Corona-Survey amongst its members and affiliated companies and associations about the impact the pandemic has had on the global textile value chain. In total, 216 companies from around the world participated.

The survey indicates that vertically integrated businesses seem to have fared better during the pandemic. The ITMF explains: “When looking at the different segments of the textile value chain (Graph 1), it is interesting to observe that the segment of finishers/printers is expecting in 2020 a significantly stronger reduction of turnover (30%) than the other segments.”

“Like the 4th ITMF Corona-Survey revealed, integrated manufacturers seem to be coping better with the negative effects of the pandemic than other segments. Under ‘Others’, companies can be found that are active in various segments of the textile value chain listed but also companies that are supplying chemicals, dyes, auxiliary material, etc.,” the organisation adds.

The ITMF continues: “The Corona-pandemic has proven in a brutal way how important digital capabilities are when physical interactions with suppliers or customers are impossible or restricted (Graph 2). 21% of all companies see a necessity to improve their digital capabilities. 18% are of the opinion that reducing the dependency from few customers is important going forward, followed by 17% of companies for which both broadening the products on offers and strengthening the balance sheet are crucial in the future. 15% are of the opinion that changing the products on offer is necessary and 10% believe that reducing the dependency from few suppliers is a relevant objective.”

www.itmf.org