- ID: 1052525
- February 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, and Unifi, (all based in the US), along with Hyosung (South Korea), Toray Industries (Japan), and Weiqiao Textile (China).
Worldwide textile exports amount to about $300 billion annually, according to the World Trade Organization. China dominates the global industry; other major players include the European Union, India, the US, South Korea, and Turkey.
The US textile manufacturing industry includes about 8,100 companies with combined annual revenue of about $54 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 percent of revenue.
Exports represent about 25 percent of US textile production. The main export destinations include Canada, China, Mexico, and the UK. 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 percent of the US market, come mainly from China, India, Mexico, Canada, and Turkey.
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