TEXTILES MARKET

The global textile market was valued at USD 1,821 billion in 2023 and is projected to reach USD 2,873 billion in 2031 which registers a 5.7% CAGR during the forecast period owing to the growth in income levels and the rising demand across various industries.

Major Market Drivers

The growing global population drives a persistent increase in the need for textile and clothing production while higher purchasing power leads to greater consumer expenditure on textiles. The rise of emerging economies along with urbanization and changes in lifestyles is fueling the demand for fabrics which in turn provides new opportunities for manufacturers and accelerates the textile market size growth.

Modern consumers are more focused on comfort and style which leads to a surge in need for products that meet these expectations. The increasing consumer demand for sustainable products is further compelling leading textile companies to realign their strategies and invest in responsible manufacturing practices. The rising trend for organic materials and versatile textiles is also encouraging manufacturers to adjust their product lines. The increasing consumer focus on sustainable practices has led textile companies to embrace more responsible production methods. Adapting to this shifting consumer preference is essential for businesses to stay competitive and fulfill the changing market trends. These trends involve the use of optical fibers and metals to interact with their surroundings which enable them to detect and respond to physical stimuli like mechanical or electrical factors.

Technological innovations along with new developments in textile manufacturing including smart textiles and automation have further reshaped the industry. These innovations not only boost efficiency but also pave the way for more personalized products which in turn shape product development and enhance the customer experience. The digital transformation has further reshaped the textile market by promoting online platforms and enabling customization options while also facilitating direct engagement between consumers and brands. The rise of online shopping has prompted consumers to buy textiles online while social media plays a significant role in driving demand for stylish clothing with constant advertising exposure contributing to spontaneous purchases.

Textiles are increasingly being utilized in crucial industries including healthcare and automotive which contributes to the overall market growth. Due to the growing automobile production along with rapid industrialization in developing countries, the market is projected to experience substantial growth in the years ahead. Automotive textiles which are typically non-apparel fabrics are widely used in vehicles like cars and trains. The demand for these textiles is largely fueled by supportive safety regulations enacted by governments around the world. Textiles also play a crucial role in multiple areas of the household from bedding and upholstery to carpets which drives significant market growth.

Raw Material Insights: Cotton segment registered the largest market share

Cotton is the most widely used natural fiber globally as it is known for its exceptional qualities like high strength and ability to retain color. The top cotton product producers are China and India. The growing demand for apparel and garments in these countries is set to boost the need for cotton which thereby fuels segment growth in the coming years. As the world’s most essential fiber, cotton comes from plants and is valued for its absorbent and breathable qualities which makes it a top choice for use in clothing or household textiles.

Product Insights: Natural fibers segment accounted for the largest market share

The natural fibers segment dominated the market due to their widespread use across various applications in the fashion and clothing industry. Growing environmental concerns along with a continued consumer preference for sustainable products are expected to boost the need for natural fibers.

Polyester is expected to experience significant growth as it is available in various forms including filament yarns and microfibers. It is also often combined with various other fibers for use in diverse industrial applications. Polyester is recognized for its durability and versatility which makes it a valuable component across numerous sectors. Within the automotive field, it is woven into seatbelts to ensure passengers safety and is incorporated into tires to improve their resilience and lifespan. It is an important material in the construction field where it is used in geosynthetics to improve road stability through the capabilities in controlling soil erosion.

Nylon is common in clothing and home furnishings due to its excellent resilience along with ability to absorb moisture. It also serves as an alternative to silk for products like stockings and parachutes.

Application Insights: Fashion & clothing segment registered the largest revenue share

The fashion sector led the market driven by growing consumer expenditure on apparel and clothing items. The rising consumer preference for crease-resistant shirting fabrics along with superior printed and dyed materials is anticipated to boost market demand in the coming years. The growing demand for textiles in the fashion and clothing industry is also driven by rising consumer purchasing power and spending habits in numerous countries globally. The increasing preference for buying clothes based on the latest fashion trends is fostering the frequent release of new clothing lines. Social media platforms like Facebook and Instagram are rapidly gaining influence in apparel marketing. It overtakes traditional media such as television as the primary means for consumers to explore the latest fashion trends.

Regional Insights: Asia Pacific dominated the global textile market

The Asia Pacific region led the market driven by the surge in apparel and clothing product sales. The growing population is projected to contribute to significant further growth in the region while the increasing number of consumers purchasing clothing and accessories online in developing countries is also fueling the overall market growth.

North America is also expected to experience substantial growth in the coming years with the United States textile sector heavily relying on material imports and suppliers. Moreover, the US exports textiles to approximately 200 countries globally. The changing lifestyle trends among young consumers in the US are increasing the demand for textiles and clothing which is expected to fuel textile market growth in the region moving forward.

The market in Europe is estimated to experience significant growth with Germany and France leading as the major producers. The increasing demand for advanced textiles is a key driver of market growth with innovations in high-performance fiber materials and the digital transformation of supply chains and manufacturing expected to further accelerate market growth.

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., BSL Limited, DBL Group, IBENA Inc, INVISTA, among others.

Key Developments:

• • In 2024, Successori Reda SpA has teamed up with Shirt Dandy to integrate AI technology and 3D configuration into the textile industry. They aim to improve designer efficiency and create distinctive products. They also want to scale operations and expand their market presence.
  • In 2023, RSWM revealed that it has acquired Ginni Filaments which is an Indian manufacturer of open-end yarns and combed cotton. This is a move that will boost manufacturing efficiency and expand its product range to better serve its premium customer base.
  • In 2021 DuPont Biomaterials in collaboration with Welspun India has launched a new collection in home textiles such as bed sheets. These are crafted from biobased materials to address the increasing consumer demand for eco-friendly home products.
  • 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.

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
  • Precot
  • Meridian
  • Berry Global Group
  • DuPont
  • Paramount Textile Limited
  • Shandong Jining Ruyi Woolen Textile Co., Ltd
  • Aditya Birla Ltd.
  • Arvind Ltd
  • BSL Limited
  • DBL Group
  • IBENA Inc
  • INVISTA