A Chinese company that has been developing textile industry innovations for over a decade could soon have a factory in the UK, according to a study.
According to The Times, a Chinese textile company that is now the largest Chinese textile manufacturing company in the world has been testing a new textile manufacturing process in a factory located in Bournemouth, England.
The study, which was commissioned by the European Union, suggests that China’s textile industry could be the largest in Europe by 2035, with a total workforce of nearly 400,000.
The report said that the UK could become a major textile market in the future as the industry moves towards its own market and as other nations become more competitive.
The study, titled ‘A Potential International Market for Textile Industry Innovations in 2020-2035’, estimates that the textile industry will create more than 3 million jobs in 2020 and a further 5 million by 2055.
The survey found that China, the world’s biggest textile producer, could generate up to $4.6 billion in direct and indirect economic impact, or $13.3 billion in 2020, with the textile sector representing 12 percent of total economic activity in the EU, The Times reports.