Textile Market Outlook
Textile represents the materials that are manufactured by using thin threads, fibers, and filaments of natural, artificial, and combination sources. Textile fibers are generally made by interlocking the yarns by knitting, weaving, and felting in particular patterns and processing them to build a length of cloth. Some of the natural textiles comprise cotton, silk, jute, denim, flannel, leather, velvet, hemp, wool linen, etc.
The global textile market size reached US$ 936.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,217.1 Billion by 2027, exhibiting a growth rate (CAGR) of 4.37% during 2022-2027.
On the other hand, artificial textiles consist of nylon, polyester, acetate, rayon, acrylic, polar fleece, spandex, etc. In line with this, they exhibit numerous beneficial properties, including high resistance against acids, alkalis, temperatures, moisture, etc. Consequently, these textiles are widely used in the production of apparel, cushioning, insulating materials, carpets, air filters, coated fabrics, etc.
Textile Market Trends:
The expanding apparel industry across countries is primarily augmenting the textile market. Furthermore, the widespread adoption of nylon as a cost-effective substitute for natural silk to produce durable flak vests, parachutes, dress materials, etc., is positively influencing the global market. Apart from this, the increasing demand for wool as an efficient insulation material in winter wear, comforters, blankets, carpets, upholstery, etc., is acting as another significant growth-inducing factor.
Moreover, the rising utilization of several textiles, such as polyethylene (PE), polypropylene (PP), aramid, polyamide, etc., to cover heavy machinery for reducing noise and protecting the equipment from vibrations is also bolstering the market growth.
Besides this, various product innovations, including the introduction of optical fibers and conductive polymers that are sensitive to physical, electrical, mechanical, thermal, and chemical stimuli, are further catalyzing the global market.
Additionally, the growing expenditure capacities of consumers and the inflating popularity of natural and sustainable fabrics are expected to fuel the textile market in the coming years.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Aditya Birla Ltd.
- Arvind Limited
- Asahi Kasei Corporation
- BSL Limited
- China Petroleum Chemical Corporation
- DuPont de Nemours Inc.
- Honeywell International Inc.
- INVISTA (Koch Industries Inc.)
- Paramount Textile Mills (P) Ltd
- Solvay and Toray Industries Inc.
Key Market Segmentation:
The report has categorized the market based on raw material, product and application.
Breakup by Raw Material:
- Cotton
- Chemical
- Wool
- Silk
- Others
Breakup by Product:
- Natural Fibers
- Polyesters
- Nylon
- Others
Breakup by Application:
- Household
- Technical
- Fashion and Clothing
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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