- ID: 1052525
- May 2016
- Region: United States
- 10 pages
- First Research
Brief Excerpt from Industry Overview Chapter:
Companies in this industry operate mills that produce textiles and textile products from natural and synthetic materials. Major companies include International Textile Group, Mohawk Industries, Unifi, and WL Gore & Associates (all based in the US), along with Hyosung (South Korea), Far Eastern New Century (Taiwan), Toyobo (Japan), and Chinatex (China).
Worldwide textile exports amount to about $315 billion annually, according to the World Trade Organization. China dominates the global industry; other major players include the European Union, India, the US, Turkey, and South Korea.
The US textile manufacturing industry includes about 9,200 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $56 billion.
Demand is driven by the domestic apparel industry and consumer demand for home furnishings like carpets, furniture, and curtains. The profitability of individual companies depends on efficient operations. Large companies have economies of scale in production for high-volume items. Small companies can compete successfully by producing specialized textiles. The US industry is concentrated: the 50 largest companies generate about 60% of revenue.
Exports represent about 25% of US textile production. The main export destinations include Canada and Mexico. Many manufacturers ship fabric to other countries for sewing into final garments, which are then reimported into the US. Textile imports, which account for some 40% of the US market, come mainly from China, India, and Mexico..
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