Textiles Market

The global Textile Market was valued at USD 1821 Billion 2023 and is projected to reach USD 2,873 Billion in 2031, registering a CAGR of 5.7% over the forecast period. The growing demand for textiles from construction, automotive, medical industries is forecast to augment the market growth.

Major Textiles Market Drivers

Factors including rapid industrialization, expansion of apparel industry, and strong growth of e-commerce platforms are anticipated to drive the textile market growth over the forecast period. With the growing environmental concerns, the demand for sustainable products has increases, thus, encouraging companies to restructure their production practices, fueling the market growth. For example, Eastman’s uses discarded carpet into new material and DuPont’s plant-based faux fur for performance fashion apparel will offer enormous opportunities to the market. Additionally, increasing product innovations, such as the development of optical fibers and conductive polymers that are sensitive to mechanical, physical, thermal, electrical and chemical stimuli, has strengthened the market growth. Moreover, with the growing trend of smart textiles in the market that deploys optical fibers, metals, and other conductive polymers to interact with the environment, the market is forecast to expand. However, the lack of unmanaged industrial waste especially in developing nations has mandated government to enforce rules and regulation in the manufacturing of textile is hampering the growth of the market. Also, high cost of raw material and toxic waste ejected from the production facility are other factors hindering the Textile Market size.

Raw Material Insights

Cotton is projected to dominate the market over the forecast period, owing to its remarkable properties including better absorption, colour retention, and high strength. Further, the ability to resist dust mite and hypoallergenic, is further expand the regional size. Besides, the growing use of wool to produce insulation products such as winter wears, carpeting, blankets, upholstery will pave the way for wool-based segment. In addition, the wool-based textile helps in absorbing odor and noise in heavy machinery, thereby strengthening the segment growth.

Regional – Segment Analysis:

Asia Pacific is predicted to lead the market over the upcoming years, owing to the inclination towards e-commerce platforms to buy clothes and accessories. Growing penetration of organized retail, favorable demographics, increasing disposable income levels, and strategic government policies are also expected to drive the market in APAC, especially in countries, such as India, Bangladesh, and Pakistan. The Indian textiles and apparel industry is the 2nd largest employer in the country offering direct employment to 45 million people and 100 million people in allied industries.

Top Market Players

Various notable players operating in the market, includes Kimberley Clark Corporation, Lenzing, Ontex, Polymer Group Inc, Precot, Meridian, Berry Global Group, DuPont, Paramount Textile Limited, Shandong Jining Ruyi Woolen Textile Co., Ltd, Aditya Birla Ltd. Etc.

Key Developments:

• • In 2021, The Indian Government announced the development of seven mega textile parks in the next three years. The government also decided to rationalize the duties on raw material inputs to manmade textiles by minimizing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5 %.
  • In 2021, Paraguay’s Ministry of Industry and Commerce made an investment of USD 1.1 million in the manufacturing sector, mainly strengthening the clothing, textiles, and footwear industries, among other areas related to assembly operations.
  • In 2019, Bombay Dyeing decided to establish 100 new franchise stores to fuel its expansion and growth of its business.

Segments covered in the Report:

The Global Textile Market has been segmented on the basis of Raw-material, Product, Application and Regions. Based on the Raw-material, the market is segmented into Cotton, Chemical, Wool, Silk, Others. Based on the Product the market is segmented into Natural fibers, Polyesters, Nylon, Others. Based on the Application, the market is segmented into Household, Technical/Industrial, Fashion & Clothing.

Key questions answered in this research report:

1- At what pace is textile market growing? What will be growth trend in future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global textile market?
4- What are the various application areas and how they are poised to grow?

Market Segmentation

Global Textile Market by Raw-material  

• • Cotton
  • Chemical
  • Wool
  • Silk
  • Others

Global Textile Market by Product  

• • Natural fibers
  • Polyesters
  • Nylon
  • Others

Global Textile Market by Application  

• • Household
  • Technical/Industrial
  • Fashion & Clothing

Global Textile Market by Region

• North America Textile Market (Option 1: As a part of the free 25% customization)

  • By Raw-material
  • By Product
  • By Application
  • US Market All-Up
  • Canada Market All-Up

• Europe Textile Market (Option 2: As a part of the free 25% customization)

  • By Raw-material
  • By Product
  • By Application
  • UK Market All-Up
  • Germany Market All-Up
  • France Market All-Up
  • Spain Market All-Up
  • Rest of Europe Market All-Up

• Asia-Pacific Textile Market (Option 3: As a part of the free 25% customization)

  • By Raw-material
  • By Product
  • By Application
  • China Market All-Up
  • India Market All-Up
  • Japan Market All-Up
  • Rest of APAC Market All-Up

• RoW Textile Market (Option 4: As a part of the free 25% customization)

  • By Raw-material
  • By Product
  • By Application
  • Brazil Market All-Up
  • South Africa Market All-Up
  • Saudi Arabia Market All-Up
  • UAE Market All-Up
  • Rest of world (remaining countries of the LAMEA region) Market All-Up

Textiles Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Kimberley Clark Corporation
  • Lenzing
  • Ontex
  • Polymer Group Inc
  • Berry Global Group
  • DuPont
  • Paramount Textile Limited
  • Shandong Jining Ruyi Woolen Textile Co., Ltd
  • Aditya Birla Ltd.
  • Arvind Ltd