Dublin, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The "Global Textile Market Size, Share & Trends Analysis Report by Raw Material (Wool, Chemical, Silk), by Product (Natural Fibers, Polyester), by Application (Household, Technical), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global textile market size is anticipated to reach USD 1412.5 billion by 2028. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028.
Rising consumer awareness coupled with fast pace changing trends in the fashion industry is projected to drive the market.
The rise in the e-commerce platforms that support sales and distribution of different types of products manufactured by the industry is expected to drive the demand. In addition, stringent government regulations to ensure labor safety is compelling the demand for personal protective clothing that requires wool or treated cotton as raw material, which is fueling the market growth.
Increasing demand for medical textiles in the healthcare industry due to the rise in awareness towards health and hygiene is adding growth prospects to the industry. Moreover, increased concern towards the environment is propelling the demand for sustainable and natural-fibers such as cotton, hemp, linen, silk, and others, which, in turn, is adding growth prospects to the market.
The rising adoption of technological components in fabrics to monitor external stimuli and translate them into data is propelling the growth of smart textiles. These products have a wide range of applications in fashion, entertainment, transportation, medical, and other industries, which are expected to open new technological avenues required in the production of textile products over the forecast period.
Textile Market Report Highlights
- Cotton raw-material-based textile products are expected to witness a CAGR of 4.4% over the forecast period on account of their high production and availability across various prominent regions including North America, Europe, and Asia Pacific
- In 2020, fashion emerged as the largest application segment with a revenue share of 74.3% and is likely to ascend at a significant rate during the forecast period owing to rapidly changing fashion trends, coupled with the demand for high-quality apparel required in sports activities
- In 2020, Asia Pacific emerged as the largest market that accounted for over 47.0% of the total revenue, owing to the presence of highly populated economies such as China, India, Australia, and Japan
- In North America, the natural-fibers product segment accounted for revenue share equivalent to USD 57.7 billion in 2020 and is anticipated to gain higher shares in the upcoming period on account of rising demand from the fashion, sports, and apparel industries
- Prominent players in the market are establishing business units in the raw-material producing regions for easy raw-material procurement and economical labor. Moreover, government support and policies such as trade agreements and investment within the countries are expected to influence the market
Market Variables, Trends, and Scope
Technology Overview
- Geotextile
- Smart textile
- Waterproof breathable textile (WBT)
- Antimicrobial medical textiles
Market Driver analysis
- Improving protective clothing market
- Automotive industry growth
- Expansion in construction sector
- Rising importance of technical textile
Business Environment Analysis: Textile Market
- Industry Analysis - Porters Model
- PESTEL ANALYSIS
Import & Export Scenario
- Textile import & export trade statistics, by country, 2017-2020
- U.S.
- Canada
- Mexico
- Germany
- France
- U.K.
- Italy
- Turkey
- Russia
- China
- Japan
- India
- Australia
- Brazil
- Saudi Arabia
- Iran
Companies Mentioned
- BSL Limited
- INVISTA S.R.L.
- Lu Thai Textile Co., Ltd.
- Paramount Textile Limited
- Paulo de Oliveira, S.A.
- Successori REDA S.p.A.
- Shadong Jining Ruyi Woolen Textile Co. Ltd.
- Sinopec Yizheng Chemical Fibre Company Limited
- China textiles Ltd.
- Rhodia SA
- Li & Fung Group
- Modern Woollens Ltd.
- Mayur Suitings
- JCT Limited
- Shijiazhuang Changshan Textile Co Ltd
- Weiqiao Textile Co Ltd
- Huafu Top Dyed Melange Yarn Co., Ltd.
- DBL Group
- B.D. Textile Mills Pvt. Ltd.
- IBENA Inc.
- Heytex Bramsche GmbH
- Bahariye AS
- Fratelli Balli SpA
- Ipekis Mensucat Turk A.S.
- Lakhmi Woollen Mills
- Wilh. Wulfing GmbH & Co. KG
- Lanificio F.lli Cerruti
- O'Formula Co., Ltd
- Trabaldo Togna SpA
- Xinhui Woollen Textile Co., Ltd
- Yunsa Yunlu Sanayi ve Ticaret A.S.
- Ozlem Kumas, Ltd
- Wuxi Xiexin Group Co., Ltd
- The Bombay Dyeing & Mfg. Co., Ltd
- Grasim Industries Limited
- FabIndia Overseas Ltd.
- Honeywell International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/j09o4g
