The global Textile market size is expected to be worth around US$ 1,350.1 billion by 2027, according to a new report by Vision Research Reports.
The global Textile market size was valued at US$ 961.4 billion in 2019 and is anticipated to grow at a CAGR of 4.2% during forecast period 2020 to 2027.
Rising disposable income, population, and urbanization in emerging economies such as India, China, and Mexico are projected to drive the market growth.
Rising awareness about personal protective equipment in the manufacturing sector owing to stringent regulations to ensure worker safety is expected to drive the demand for protective clothing. Furthermore, emergence of e-commerce portals which offer added advantages such as convenience, discounts, and free delivery services is expected to increase the consumption of apparel, subsequently driving the demand for textiles.
The rising application of smart textile products owing to the miniaturization of electronic components and the use of conductive materials is expected to drive the product demand. Furthermore, technological innovation in terms of the development of new upholstery products derived from coated fabrics and spider silk is expected to open new industry avenues over the forecast period.
Based on raw material, the market has been segmented into cotton, chemical, wool, silk, and others. In terms of volume, cotton is anticipated to be the largest raw material segment, accounted for a market share of 39.4
% in 2019. The growth of the segment is attributed to the properties of cotton including high absorbency and strength, and color retention. China, India, and U.S. are the major cotton producers in the world.
Wool-based textile accounted for 12.5% of the market in terms of volume in 2019. Wool fiber, which is also known as keratin, is composed of hydrogen, nitrogen, carbon, and sulfur. Wool is mainly used in the manufacturing of winter wear Wool is recyclable and renewable and also has qualities of strength and moisture management, thereby driving the product demand.
Silk is increasingly adopted in the textile industry owing to properties such as high strength, elasticity, and absorbency. In terms of revenue, this segment is projected to register the highest CAGR of 4.6% from 2020 to 2027.
Others include polyethylene (PE), polypropylene (PP), aramid, and polyamide. Polypropylene is a synthetic fiber that has high strength and water-resistant properties. Similarly, polyamide is known for its high strength and durability. Due to these factors, these fibers are widely used in the textile industry.
Polyester fiber is characterized by high strength, quick-drying, and high chemical and wrinkle resistant properties. These advantages have made polyester one of the most widely used products in the textile industry. Polyester finds application in a variety of end-use products such as carpets, curtains, nets, and ropes. Growing demand for household products and technical textiles is projected to drive the polyester segment over the forecast period.
On the basis of application, the market has been segmented into household, technical, fashion and clothing, and others. Fashion and clothing is expected to be the fastest-growing application segment over the forecast period owing to the rise in consumer spending on apparel and clothing, coupled with the highly developed fashion industry in the European and North American regions.
Fashion and clothing is the largest consumer of textiles. In terms of volume, the fashion sector held a considerable share of over 70.01% of the total market in 2019. Apparel, ties, and clothing accessories, and handbags are the key areas that significantly consume textiles. Consumer requirements for crease-free fabrics and high quality dyed and printed fabrics are expected to drive the demand for textiles over the forecast period.
Technical textiles are used to meet the high-performance end-user requirements from various industries including construction, transportation, medical, and protective equipment. Nylon, polypropylene, polyester, and acrylic fibers are some of the widely used raw materials used for manufacturing technical textiles.
Asia Pacific is the largest regional market and is anticipated to register a substantial CAGR of 5.4% in terms of value over the forecast period. This is attributed to the rapidly increasing demand for apparel, particularly through e-commerce portals. Moreover, manufacturers prefer setting up manufacturing units in countries such as China, India, Bangladesh, and Pakistan owing to high cotton production and low labor costs.
North America is anticipated to register a CAGR of 3.01% from 2020 to 2027 in terms of value, owing to increasing initiatives for developing superior sports apparel and enhancing agricultural yield. The North America market is characterized by high demand from sectors such as meditech, sports tech, and agro-tech.
China Textile (Shenzhen) Co. Ltd, Shandong Jining Woolen Textile Co. Ltd, Honeywell International, INVISTA, Asahi Kasei Fibers Corporation, and Sinopec Yizheng Chemical Fiber Company.
Raw Material Outlook
Fashion & Clothing
Ties & Clothing Accessories
Central & South America
Middle East & Africa
The Textile market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Textile market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Textile market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Textile market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Textile market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Textile capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Textile by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Textile market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Textile market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Textile market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Textile industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Textile market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Textile market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Textile market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Textile market. These factors have benefited the growth of the global market for Textile. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Textile. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Textile are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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