DUBLIN, October 18, 2021--(BUSINESS WIRE)--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
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
Import & Export Scenario
Textile import & export trade statistics, by country, 2017-2020
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.
Li & Fung Group
Modern Woollens Ltd.
Shijiazhuang Changshan Textile Co Ltd
Weiqiao Textile Co Ltd
Huafu Top Dyed Melange Yarn Co., Ltd.
B.D. Textile Mills Pvt. Ltd.
Heytex Bramsche GmbH
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.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005850/en/
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