According to TechSci Research report, “Textile Market –Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Textile Market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. The increasing demand for textile products such as clothing, home textiles, and industrial textiles is driving the growth of the global textile market. The rising population, increasing disposable incomes, and changing lifestyles are the major drivers of this demand.The global fashion industry is growing at a rapid pace, driven by the increasing demand for fashionable and trendy clothing. This growth is driving the demand for textile products, especially natural fibers such as cotton, wool, and silk. Furthermore, the textile industry is witnessing significant technological advancements, such as the use of nanotechnology in textile production, 3D printing of textiles, and the use of smart textiles. These advancements are improving the quality, durability, and functionality of textile products, driving the demand for global textile market.
Global textile market is witnessing a significant trend towards sustainability, with consumers increasingly demanding eco-friendly and sustainable textile products. The use of organic cotton, recycled fibers, and sustainable manufacturing processes are some of the key trends in this area. The use of digital technologies such as AI, IoT, and blockchain is transforming the textile industry, improving supply chain efficiency, and reducing costs. The use of digital technologies is also improving the design, production, and marketing of textile products. The trend towards customization is growing in the global textile market, with consumers increasingly demanding personalized textile products. The use of digital technologies such as 3D printing is enabling mass customization of textile products, improving customer satisfaction. These trends are expected to create lucrative opportunities for the growth of global textile market in the coming years.
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However, the global textile market is facing intense cost pressure due to the increasing competition and rising raw material costs. This pressure is forcing textile manufacturers to improve their cost efficiency and productivity. The textile industry is one of the largest polluters globally, with the production of textiles generating significant waste and emissions. The industry is facing increasing pressure to reduce its environmental impact and adopt sustainable practices. The textile industry is also facing labor issues, such as low wages, poor working conditions, and human rights abuses. The industry is facing increasing pressure to improve its labor practices and ensure fair wages and safe working conditions for its workers.
Global Textile Market can be segmented by type, by raw material, by product, by process, by application, and by region. In terms of application, the global textile market can be segmented into household, technical, fashion & clothing, and others. The household applications can be categorized into bedding, kitchen, upholstery, towel, and others. The technical applications can be fragmented into construction, transportation, medical, protective, and others. The fashion & clothing segment can be distributed into apparel, ties & clothing accessories, handbags, and others. The fashion & clothing segment dominates the global textile market, driven by the increasing demand for fashionable and comfortable clothing.
Regionally, global textile market can be categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia-Pacific region is a dominant player in the global textile market, accounting for a significant share of the total revenue. The region is home to several textile manufacturing hubs, such as China, India, Bangladesh, and Vietnam, which are known for their low-cost production capabilities. The textile industry in the Asia-Pacific region is witnessing significant growth, driven by various factors such as rising disposable incomes, growing population, and increasing demand for textile products. The clothing segment dominates the textile market in the region, driven by the increasing demand for fashionable and affordable clothing. China is the largest textile market in the Asia-Pacific region, accounting for a significant share of the total revenue. The country is the largest producer of textiles and clothing globally, with a significant portion of its textile exports going to the United States and European Union. The Chinese textile industry is witnessing significant growth, driven by the increasing demand for textile products and government initiatives to promote the industry. India is also emerging as a hub for technical textiles, driven by the increasing demand for high-performance textiles in various industries such as automotive, aerospace, and medical.
Major companies operating in the Global Textile Market are:
- BSL Ltd.
- INVISTA Srl.
- Lu Thai Textile Co., Ltd.
- Paramount Textile Ltd.
- Paulo de Oliveira, S.A.
- Successori REDA S.p.A.
- Shadong Jining Ruyi Woolen Textile Co. Ltd.
- Sinopec Yizheng Chemical Fibre Company Ltd.
- China textiles Ltd.
- Rhodia SA
- Li & Fung Group
- Modern Woollens Ltd.
- JCL Ltd.
- Grasim Industries Limited
- Masco Corporation
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“The demand for sustainable and eco-friendly textiles has increased in recent years, with consumers looking for products made from natural or recycled materials. Companies are adopting sustainable practices, such as using organic cotton, recycled polyester, and biodegradable fabrics. The circular economy is a model that aims to reduce waste and keep materials in use for as long as possible. In the textile industry, this involves designing products for reuse or recycling, and implementing closed-loop production processes.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Textile Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Yarn & Fiber, Processed Fabrics & Apparel), By Raw Material (Cotton, PSF, PFY, NFY, VSF, VFY, PPMFY, Others), By Product (Natural Fibers, Polyesters, Nylon, Rayon, Others), By Process (Woven, Non-woven), By Application (Household (Bedding, Kitchen, Upholstery, Towel, Others), Technical (Construction, Transportation, Medical, Protective, Others), Fashion & Clothing (Apparel, Ties & Clothing Accessories, Handbags, Others), Others), By Region and Competition”, has evaluated the future growth potential of Global Textile Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Textile Market.
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