The US Textile Equipment Industry Will Continue to Decline Over The Next Few Years

The US textile equipment industry will continue to decline over the next few years, according to analysts at asset disposition and auction solutions provider Great American Group. They blame the decline on the high cost of operations and raw materials in the US, which are leading to the off-shoring of textile production and reduced demand for textile equipment. Consolidation among North American textile manufacturers and lack of growth has resulted in surplus textile machinery, according to Great American Corp's latest Textile Equipment Monitor. However, the group is forecasting opportunities for US textile equipment companies serving the non-woven fabrics category. "Non-woven textiles often have features such as water resistance that require more advanced technology to produce and low-cost countries generally do not have the technical capabilities to produce such items," said Lee Danhauer, vice president and senior appraiser for Great American Group's machinery and equipment division. Source: just-style