Textile Market Size Worth $1,350.2 Billion By 2027 | CAGR: 4.3%


The Global Textile Market size is anticipated to reach USD 1,350.2 billion by 2027, registering a CAGR of 4.3% over the forecast period, according to a new report published by Grand View Research, Inc. Rising disposable income, population, and urbanization in emerging economies such as India, China, and Mexico are projected to drive the market growth.
Textile is a flexible material, made from several processes including weaving, knitting, crocheting, knotting, tatting, felting, or braiding. It is made from a network of natural or artificial fibers such as yarn or thread. Yarn is produced by spinning raw fibers of wool, flax, cotton, hemp, or other materials to produce long strands. These materials are extensively used to produce a wide range of finished goods, such as:
·         Upholstery products
·         Kitchen products
·         Transportation fabrics
·         Bedding products
·         Construction gears
·         Medical products
·         Personal protective equipment
·         Personal apparels
·         Handbags
·         Clothing accessories
Textile is also referred as ‘fabric’ or ‘cloth’ as its synonym. However, there are subtle differences in these terms in specialized usage. A textile is any material made of interlacing fibres, including carpeting and geotextiles. A fabric is a material made through weaving, knitting, spreading, crocheting, or bonding that may be used in production of further goods (garments, etc.). Cloth may be used synonymously with fabric but is often a piece of fabric that has been processed.

To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/textile-market/request/rs4
Further key findings from the report suggest:
·         On the basis of raw material, cotton dominated the textile market with a value of USD 378.6 billion in 2020 owing to its properties such as high absorbency and strength.
  • In terms of volume, polyester accounted for a share of 28.0% in 2020 and is expected to register a significant growth rate over the forecast period owing to properties such as excellent shrink resistance and high strength
  • Fashion and clothing emerged as the largest application segment with a value of USD 712.3 billion in 2020 owing to the rapid rise in consumer spending on apparels and clothing
  • Asia Pacific is expected to remain the largest market through the forecast period in light of increasing sales volume of clothing and apparel goods through e-commerce portals including eBay, Amazon, and Flipkart in China, Bangladesh, India, and Thailand
  • Demand for silk fabrics for household and fashion and clothing applications is considered to provide substantial scope for market growth in Europe over the forecast period
  • Textile manufacturing companies are expected to increase expenditure toward establishing strategic partnerships with e-commerce portals in order to expand their market share.
  • Key textile industry participants include China Textile (Shenzhen) Co. Ltd, Shandong Jining Woolen Textile Co. Ltd, Honeywell International, INVISTA, Asahi Kasei Fibers Corporation, and Sinopec Yizheng Chemical Fiber Company. 
Major Industry Participants:
·         China Textile (Shenzhen) Co. Ltd
·         Shandong Jining Woolen Textile Co. Ltd
·         Honeywell International
·         INVISTA
·         Asahi Kasei Fibers Corporation
·         Sinopec Yizheng Chemical Fiber Company
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-textile-market
Some of the major developments that have taken place over the past few years include:
·         The COVID-19 pandemic has hit the textile industry adversely worldwide. The fashion, accessories and apparel sector has been worst hit by the pandemic, bringing it to a standstill. It is mostly due to the national emergency lockdowns carried out by several countries which has rendered worker workless.
·         In 2018, Made Smarter program was launched by the UK government to aid the textile manufacturers overcome production and delivery related obstacles. Recently, Panaz based in Burnley, Edward Taylor Textiles in Blackburn and Dukinfield-based Tibard are among 62 businesses now investing in a range of industrial digital technologies, including data analytics, artificial intelligence (AI), augmented reality (AR), industrial Internet of Things (IIoT), 3D-printing and robotics.
·         In 2017, the Chinese fashion and Apparel Company acquired a majority stake in New York-based Chinese-American designer Vivienne Tam’s brand rights in China for 37 million CNY (about $5.5 million).
·         In 2018, Chinese textile and fashion group Shandong Ruyi extended its years-long global buying spree to ink a deal for a controlling stake in Swiss luxury shoes and leather company Bally.
·         In 2018, Asahi Kasei acquired Sage Automotive Interiors, Inc. (Sage), a US-based manufacturer of automotive interior material, for a cash transaction price of approximately $700 million (¥79.1 billion*).
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more