PUBLISHER: The Business Research Company | PRODUCT CODE: 1429669
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429669
Textiles encompass fundamental materials formed from woven fibers, employing techniques such as sewing to craft garments, clothing, and various goods.
Key types of textiles comprise fabrics, yarn, fiber and thread, home furnishings and floor coverings, textile and fabric finishing, fabric coating mills, and other textile product mills. Household furniture encompasses all mobile, compactable items or machinery utilized to furnish a home, including chairs, tables, sofas, mattresses, and more. These textiles utilize diverse materials such as cotton, jute, silk, synthetics, and wool, involving processes such as woven and non-woven.
The textile market research report is one of a series of new reports from The Business Research Company that provides textile market statistics, including textile industry global market size, regional shares, competitors with a textile market share, detailed textile market segments, market trends, and opportunities, and any further data you may need to thrive in the textile industry. This textile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The textile market size has grown strongly in recent years. It will grow from $638.03 billion in 2023 to $689.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth witnessed in the historical period can be ascribed to factors such as the expansion of the global population, heightened demand for man-made fibers, government initiatives supporting the textile industry, robust economic growth in emerging markets, and the implementation of restrictions on plastic usage.
The textile market size is expected to see strong growth in the next few years. It will grow to $903.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the upcoming period can be attributed to factors such as the continued increase in global population and urbanization, the rapid expansion of e-commerce, heightened expenditure on leisure activities, the growing retail penetration, increased internet accessibility and smartphone usage, and a rising preference for contactless delivery solutions. Notable trends expected in the forecast period include a shift towards adopting digital textile printing inks, a focus on utilizing non-woven fabrics, an emphasis on the use of organic fibers, a spotlight on sustainable fibers, integration of blockchain technology into manufacturing processes, adoption of digital platforms for textile supply chain management, collaboration with technology companies to design and develop smart fabrics, investment in robotics and automation, incorporation of artificial intelligence, and emphasis on partnerships and collaborations to foster innovation in product development.
The textile manufacturing market is anticipated to experience growth, driven by the increasing demand for online shopping. This trend allows manufacturers to expand their product reach to a broader audience, leading to geographical diversification of their customer base and contributing to the overall growth of the textile manufacturing market. Notably, in countries such as India, the emergence of e-commerce portals has played a pivotal role in amplifying the sales of traditional garments, offering greater exposure to producers previously limited to specific geographical areas.
The growth of the textile market is further expected to be propelled by the increasing internet penetration and smartphone usage. Internet penetration, reflecting the percentage of the population with internet access, and the widespread use of smartphones for diverse online activities contribute to the industry's dynamics. The textile sector leverages social media channels to connect influencers and fashion icons with audiences, disseminating information about the latest trends and fashion-related insights. For instance, as of October 2022, DataReportal reported that 5.07 billion people worldwide, equivalent to 63.5% of the global population, used the internet. The connected population continued to grow, with an increase of over 170 million users in the past year. Consequently, the surge in smartphone users, coupled with expanding internet access, is expected to facilitate increased online shopping for apparel and other products, thereby driving market growth in the forecast period.
The demand for smart textiles is being propelled by advancements in wireless technologies and the growing need for connectivity. Smart textiles, capable of interacting with their environment, exhibit responsiveness to various physical stimuli, including thermal, mechanical, electrical, and chemical sources. These textiles comprise key components such as sensors, actuators, and fabrics, utilizing materials such as optical fibers, metals, and conductive polymers. Their applications span across diverse sectors, including fashion, entertainment, medical, transportation, sports and fitness, and military. An illustrative example is Cityzen Science's d-shirt, featuring functionalities such as a heart rate monitor, built-in GPS, accelerometer, and altimeter.
A notable trend in the textile market is the integration of artificial intelligence (AI) in textile manufacturing. Textile manufacturers are increasingly leveraging AI to enhance production processes and ensure product quality. AI is particularly employed for quality inspection in fabric manufacturing. For instance, Taxon, a textile company with production facilities in the United Kingdom, Germany, and China, introduced Proweave, a patented jacquard weaving technology in 2021. This innovative technology utilizes AI to blend various yarn thicknesses, weights, and fabric references, resulting in fabrics with unique gradients, ribs, waffles, colors, stretch, transparency, and 3D effects.
Major companies operating in the textile market report are Toray Industries Inc., Sinopec Group, Mohawk Industries, Inc., TJX Companies, Far Eastern New Century, Tex Tech Industries, Ashley Furniture Industries, Inc., Beaulieu International Group, Santana Textiles LLC, Yarnz, Australian Textile Mills (ATM), Bruck Textiles, Spunchem Interntaional, Old Navy, Mattex Yarns, Daedong Company Limited, Magellan (Old Aladdin) Co. Ltd., Yarns Dubai, Arvind Ltd., Bombay Rayon Fashions Limited, Berry Global, Silkoplus German Embroidery Threads, Luthai Textile, Huafu, Siltex Brasil Ltda, Jiangsu Sunshine Co Ltd., Huafang Group Co Ltd., Shangtex Holding Co. Ltd., Shijiazhuang Changshan Textile Co Ltd., Margo, Lenzing, Coats, Laxtons, Ugurteks, Ardalanish Mill, , European Spinning Group, AMANN Group, Simba Textile Mills Pty. Ltd., Shandong Jining Ruyi Woolen Textile Co Ltd., Elena Furs, Fabreex, United Textiles, Michael Kors, Domarex SC, Tarkett S.A, Coats Bell Div. of Coats Canada Inc., Santista Argentina SA, Unifi, Inc., Albany International Corp., Vardhman Textiles, InPro Corporation, Dunmore Corp., Fabrico, The Yarn Room, Bally Ribbon Mills, Paramount Texteis, Converse, Brooks Brothers, Hollister, Aeropostale, American Eagle Outfitters, Abercrombie & Fitch, Saint Gobain Tape Solutions, Pettenati Industria Textil SA, GAP, Levi Strauss & Co., National Spinning Co, Evora SA, Hyosung TNC, Fabricato SA, Reliance Industries Limited, Sarwani International Corporation, Saudi Spinning & Textile Mill, Ralph Lauren, Fiacao Sao Bento S.A., Slywia Samulak, Town End Alpacas, Como Luxury fabrics, SELA, Gale Pacific Fze, Textil Sao Joao, Namsung Match Co. Ltd., Weiqiao Textile Company Limited, Aratex Group, Shandong Demian Incorporated Company, Terico Golzar, Fibertex South Africa, Elasticos Yarns, Trelleborg Engineered Coated Fabrics, Leena Egypt, AlSaraTex Co., Integrated Fibres Limited
Asia-Pacific was the largest region in the textile market in 2023. Western Europe was the second largest region in the textile market. The regions covered in the textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the textile market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The textile market consists of sales of plant-based, animal-based, cellulosic, synthetic, and semi-synthetic textiles, wool, natural fibers, and inorganic-based textiles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Textile Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on textile market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for textile? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The textile market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.