India’s apparel exports are estimated to de-grow by 4-5% in FY2019, following a similar de-growth of ~4% in FY2018 and modest growth rates of 1% and 3% in FY2016 and FY2017 respectively. While a reversal in trend has been witnessed in the recent months with a 14% Y-o-Y growth in India’s apparel exports in Q3 FY2019, the growth is overstated considering a sharp decline reported during Q3 FY2018, amid downward revision in export incentives under the GST regime. As a result, India’s apparel exports in Q3 FY2019 remained lower than the average quarterly exports during the past five years. Having said that, ICRA expects the trend to have bottomed out and recovery to set in with internal challenges and abrupt pressures subsiding, though the pace of recovery is likely to remain muted considering the challenging environment. Commenting on the subdued industry trend, Mr. Jayanta Roy, Senior Vice-President and Group Head, ICRA, says, “The decline in India’s apparel exports in FY2019 so far has been primarily driven by a sharp inexplicable decline witnessed in shipments to the United Arab Emirates (UAE) from July 2017 onwards. Yet, the trend otherwise also has not been encouraging. If the trade with UAE is excluded,…
Notable Developments in the Flame Retardant Apparel Market Lakeland Industries, Inc., a U.S.-based manufacturer of protective clothing, recently announced its collaboration with Amazon.com for sales and distribution of its products, which is a part of company’s e-commerce strategy. National Safety Apparel, another player in the flame retardant apparel market, recently announced that it is expanding its USA-based safety clothing manufacturing capabilities by acquiring a Chicago-based flame resistant (FR) clothing manufacturer – Rubin Brothers – and its brand Union Line™. A European stakeholder in the flame retardant apparel market – Ansell Protective Solutions AB -- partnered with Shigematsu Works Co. Ltd (STS) – a Japanese personal protection equipment company to cover the marketing, distribution & after-sales service and maintenance of Ansell’s products in Japan. Carrington Textiles Ltd., a U.K.-based player in the flame retardant apparel market, announced the launch of a stretch fabric – the Flameflex 275 – for flame retardant apparels. The company declared that the use of elastolefin fibers for the inclusion of polyester in the stretch fabric improves abrasion resistance and strength of flame retardant apparels. Furthermore, the company also stated that the fabric meets accreditations EN11611, EN11612 and EN14116 and can withstand temperatures up to 75 degrees.…
According to the market report published by Future Market Insights titled ‘Fabric Care Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027,’ the revenue generated from fabric care is estimated to be valued at over US$ 90,658.6 Mn in 2018, which is projected to increase at a CAGR of 5.9% during the forecast period (2018-2027). Fabric care detergents, a product type segment, is projected to gain significant growth in the global fabric care market owing to the increasing use of liquid fabric care products, rise in the adoption of washing machines in developing countries, frequent launch of new fabric care products that are compatible with various types of washing machines and the ease of use associated with liquid fabric care detergents as compared to soaps, bars and blocks are some of the key factors driving the demand for fabric care products across the globe. Moreover, rapidly growing population, increasing per capita expenditure on household cleaning products, expanding global FMCG industry and the growing trend of hygienic personal care are also among factors that are expected to boost the demand for fabric care products during the forecast period. Companies in the fabric care market are adopting various marketing strategies to increase…
Cotton exports shipment slumped 43% to 7.9 lakh bales (170 kg each) in January as against 12.4 lakh bales exported in the same month of previous marketing year (2017-18). In January, cotton shipment value declined sharply by 33% YoY. In terms of unit value realization, the average for January was US cents 81.58 per pound. This implies a jump in unit prices realisation of 8% to average INR125.84 per kg. During the month, domestic spot prices for benchmark Gujarat Shankar-6 averaged US cents 77.17 per pound while global spot benchmark, the Cotlook ‘A’ index averaged US cents 82.44 per pound. Bangladesh was the largest importer of Indian cotton in January, followed by China and Vietnam. Pakistan was the fourth largest importer of Indian cotton during the month. Spun yarn export down 6% in January on lower price realisation In January, shipment of fibre, spun and filament yarn declined sharply by 24% in US$ terms and 16% in INR terms. Total shipment during the month were at US$644 million or INR4,509 crore. Spun yarns shipment totaled 96 million kg (down 6%) worth US$280 million (down 11%) implying an average unit value realization of US$2.91 per kg, down US cents 8 compared…
source The legal services market is expanding across the globe. Increased complexities and intricacies in industries, sub-markets and businesses are primarily aiding the scope of legal services. To be prepared in advance on the legal front because of the dynamic and flexible business environment, corporations are increasingly making use of legal services. Companies having a broad base of stakeholders often have to face legal turbulences from customers, governments, competitors, external agencies, and suppliers. This frequently hinders the time and effort of the organization which thereby reflects in lowering of the company’s total revenue. In order to cater to these issues, the global legal services market has aggressively expanded in size, nature, and appeal in the past few years. Along with the expansion, the global competition between the legal service providers has also intensified. The Services Provided By The Legal Sector The legal services industry includes boutique legal firms, legal companies with a large employee base, and individual practicing lawyers. All these legal bodies operate on contract bases on litigation matters over issues such as tax law interpretation and laws which deal with consumer PILs and competitor accusations. Legal service companies may also provide customized solutions to various organizations after carefully…
Global flame retardant sales reached nearly 192 million square meter in 2018, with momentum likely to drive the market to a 6.2% y-o-y in 2019, according to Fact.MR’s latest analysis. Imposition of stringent regulatory rules and growing awareness about workers’ safety in high-risk industries worldwide continue to drive growth. Gains have also been driven by macroeconomic factors, notably stability in global oil prices and capital injection in infrastructure projects. The study opines that effective implementation of workplace safety guidelines in developing countries can open up new opportunities for manufacturers. “Not protecting their employees with good-quality flame retardant apparels can cost employer organizations a fortune with the medical care and rehabilitation of injured employees. Apart from strict legal regulations, growing safety awareness among employees is driving the purchases of flame retardant apparels across several industries,” says senior research analyst Prakhar Jain at Fact.MR. “Flame retardant apparel market players are now focusing on improving comfort along with the safety of their products, and provide flame retardant apparels that can suit the end-users’ changing demands.” Oil & Gas and Power Generation Industries Create Promising Growth Opportunities According to the study, the oil & gas industry remains the largest consumer of flame retardant apparels.…
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