On July 11, 2024, the 2024 Annual meeting of the China Chemical Fiber Industry Association Spandex Branch was held in Luoyang, Henan Province.

Jin Xinyi, deputy secretary-general of the Spandex Branch of China Chemical Fiber Industry Association, made the "Analysis and Outlook of the Operation of the Spandex Industry in 2024" report on behalf of the secretariat of the Spandex Branch, briefly reviewing the overall operation of the spandex industry in 2023 and the first half of 2024. The spandex industry is currently in an unbalanced state of oversupply, prices continue to fall, and cash flow continues to compress. Most of the industry losses, only a small number of leading enterprises and differentiated products accounted for a relatively high number of enterprises have small profits. Raw material end support is insufficient, downstream demand is depressed, spandex industry is also in a difficult stage. The subsequent spandex industry should slow down the growth rate of production capacity, actively develop new quality productivity, innovate and break through, expand new fields, and uphold the concept of sustainable development to produce green and low-carbon products.

The representatives of the participating enterprises introduced the market operation conditions of the unit in the first half of 2024, and commented on the overall development of the industry; The market management of spandex, industrial technology upgrade, new product development, intelligent manufacturing, green development and so on are discussed. In the face of the difficulties encountered in the market this year, the representative of the enterprise said that the next step is to reduce production costs, increase product research and development efforts, carry out product differentiation development, actively expand the downstream market application field and expand the use of spandex, and industry enterprises jointly care for the market to achieve high-quality development of the spandex industry. The representatives of the participating enterprises also put forward suggestions on the preparation of the "Chemical fiber (spandex) industry Standard Conditions".

China Chemical Fiber Industry Association chief economist, executive vice president of the spandex branch Li Zhengjun said that in recent years, the spandex industry has entered a period of high-speed expansion, leading to the industry into the era of low profits, the downstream opening probability is not high, and the two extrusion makes the production and operation pressure of spandex enterprises increase. He called on spandex enterprises to increase technological innovation and product innovation, constantly tap market demand, open up new application areas, and vigorously develop new quality productivity to promote the healthy development of spandex industry.

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