Global Textile Market Size & Share Report, 2021-2028

 

Textiles Market

The Textile Market was estimated around USD 957.3 billion in 2020 and is expected to reach USD 1,350.9 billion by the end of 2028, expanding at a CAGR of 4.4% during the forecast period (2021-2028).

The factors driving the growth of Textile Market includes expansion of the e-commerce industry, rise in the construction of bridges, buildings, and roads, increasing use of natural fibers in the manufacturing of garments and apparels and growing adoption of technical textiles in the farming activities around the world. According to the report published by Statista, the Global Apparel Market was estimated around USD 1.5 trillion in 2021, and is predicted to reach USD 2 trillion by the end of 2026, which will boost the Global Textile Market in the approaching years. Moreover, the trending concept of smart textiles, innovations in the tech-infused wears, increasing application of textiles in the transportation and medical sector and rise in Free Trade Agreements (FTA) across the globe, are some of the additional factors supplementing the Textile Market share. In addition, the increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing to the market growth.

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However, the growth of Textile Market is hindered attributed to high cost of raw material and toxic waste generated from the production from the production center.

The leading players operating in the market are DuPont, Paramount Textile Limited, Shandong Jining Ruyi Woolen Textile Co., Ltd, Kimberley Clark Corporation, Lenzing, Ontex, Aditya Birla Ltd., Precot, Meridian and Berry Global Group, among others.

Raw Material: Segment Analysis

Based on Raw Material, the Cotton segment is predicted to capture the largest market share during the forecast period. The increasing use of cotton to manufacture winter wears, carpeting and blankets because it absorbs order and noise efficiently in heavy machines, is the major factor responsible for the segment’s growth.

Regional: Segment Analysis

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share over the forecast. Rise in the sales of clothing apparels through e-commerce platforms, increasing Foreign Direct Investments (FDI) inflows in the textile industry, growth in the number of FTAs signed between different Governments, rapid urbanization and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Market Segmentation

Global Textile Market by Type

  • Commercial
  • Non-Commercial

Global Textile Market by Raw Material

  • Cotton
  • Wool
  • Silk
  • Synthetic
  • Others

Global Textile Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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