Textile Market Analysis, Share, Industry, Opportunities 2031

Report Description

The global textile market size is expected to register a robust CAGR during the forecast period, between 2021 and 2028. The growth of the market is attributed to the growing apparel demand.

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Textiles are materials made from thin fibers, threads, and filaments mainly derived from different sources such as artificial, natural, or a combination of sources. Textile fibers are often made by knitting, weaving, and felting yarns in precise patterns and then processing them to make a length of cloth. Cotton, jute, silk, flannel, denim, leather, hemp, wool, velvet, and linen are examples of natural textiles. Certain textiles have a variety of advantageous features including great resistance to alkalis, acids, temperatures, and moisture and are frequently utilized in the production of cushioning garments, insulating materials, air filters, carpets, and coated fabrics.

Market Trends, Drivers, Restraints, and Opportunities:

• Growing apparel demand from the fashion sector along with the expansion of e-commerce platforms is projected to propel the market during the forecast timeline.
• Rising trend of smart textiles and product developments including the introduction of optical fibers and conductive polymers present key factors driving market expansion.
• Increasing consumer spending power as well as rising demands for sustainable and natural textile products are estimated to boost the market forward.
• Strict government rules and restrictions regarding deforestation and environment degradation are major challenges projected to hinder the market growth in the coming years.
• The outbreak of COVID-19 pandemic had forced governments across countries to impose restrictions on the manufacturing units. As a result of a disrupted supply chain and imposed lockdown, the market is affected by the pandemic, which acts as a key market restraint.
• Rapid development of new technologies for apparel production is projected to generate immense growth opportunities for the market players.

Scope of the report:

The report on the global textile market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Global Textile Market Segment Insights:

Natural fibers segment is projected to hold significant market share

Based on product types, the global textile market is segmented into fabric, natural fibers, nylon, polyesters, yarn, and others. The natural fibers segment is projected to hold significant market share due to wide applications of such materials in the fashion and garment industry. Increasing environmental concerns combined with emerging consumers’ trend toward more sustainable products are likely to boost the demand for natural fibers. The polyesters segment, however, is expected to expand at a healthy growth rate in the coming years due to its various remarkable features such as high strength, wrinkle resistance and chemical, and quick drying. It is used in both households as a cushioning and insulating material in pillows as well as in industries to make coated fabrics, air filters, carpets, and other products.

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Cotton segment is anticipated to account for a substantial share

On the basis of raw materials, the market is fragmented into chemical, cotton, silk, wool, and others. The cotton segment is anticipated to account for a substantial share of the market owing to its exceptional qualities such as strong absorbency, strength, and color retention. India, China, and the United States are the world's largest producers of cotton and cotton-based products. The chemical segment, however, is likely to register a substantial growth rate during the forecast period as they are vital components for the entire textile production business. Despite the fact that chemicals are detrimental to human health and the environment, they are widely utilized in the textile business as neutralizers, mercerizing agents, binders, leveling agents, thickeners, and stain-removers.

Non-woven segment to register a substantial growth rate 

In terms of processes, the global textile market is bifurcated into woven and non-woven. The non-woven segment is anticipated to register a substantial growth rate during the forecast period owing to the wide applications of the method for various products. The method is widely used to produce hygienic items such as sanitary napkins, baby diapers, and adult incontinence products. Non-woven are utilized in road building as geotextiles to boost road resilience and low maintenance costs of products are projected to drive the demand in construction applications. The wide adoption of non-woven fabric in the automotive and transportation industries present another key factors for the segment growth. Owing to endurance, non-woven fabrics are used in the fabrication of a vast variety of external and interior parts in the vehicle sector.

Fashion textiles segment to expand at a robust pace in the near future

Based on applications, the market is segregated into clothing textiles, fashion textiles, home-decor textiles, technical textiles, and others. The fashion textiles segment is expected to expand at a robust pace in the near future due to the rising consumer spending on clothing and apparel. Furthermore, increasing consumer demand for shirting fabrics and crease-free suiting as well as printed fabrics and quality dyed are expected to fuel the segment growth. Furthermore, rising demand for casual and formal wear as well as other stylish items among all age groups of the global population present other key drivers of the segment.

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Asia Pacific is expected to dominate the market

In terms of regions, the textile market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to the increasing sales of clothes and apparel goods due to changing lifestyle and high number of the population in the region. Furthermore, the existence of a large number of e-commerce platforms offering apparel and related accessories in developing economies act as a major factors pushing the regional market expansion. Moreover, increasing organized retail penetration, rising income levels, favorable demographics, and friendly government policies are likely to drive substantial demand for textile products in the region.

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