Textile Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type, By Raw Material, By Product, By Process, By Application, By Region and Competition

Global Textile Market is Expected to Grow at an Impressive Rate During the Forecast Period on Account of the Increasing Demand for Clothing and Home Furnishings, Rising Disposable Income, and Growing Population

Global Textile Market is expected to grow at an impressive rate during the forecast period on account of the increasing demand for clothing and home furnishings, rising disposable income, and growing population. The global population is growing, and with rising disposable incomes, people are spending more on clothing and home textiles such as bedding, curtains, and towels. Global population reached 8.0 billion in November 2022 from an estimated 2.5 billion people in 1950, adding 1 billion people since 2010 and 2 billion since 1998. The global population is growing, and with rising disposable incomes, people are spending more on clothing and home textiles such as bedding, curtains, and towels.

The fashion industry is one of the major drivers of the global textile market. With changing fashion trends and the need for fast fashion, the demand for textiles is constantly increasing. The textile industry is undergoing a technological revolution, with innovations such as smart textiles, digital printing, and 3D printing. These advancements are expected to create new prospects for the growth of global textile market in the coming years. Additionally, with growing awareness about environmental issues, consumers are increasingly demanding sustainable and eco-friendly textiles, thereby creating lucrative opportunities for the growth of global textile market. This has led to the development of new materials and production processes that are more environmentally friendly.

Technical Textiles

Technical textiles refer to textiles that are designed and engineered for specific functions and applications beyond traditional clothing and household uses. These textiles are used in a wide range of industries, including automotive, aerospace, construction, healthcare, and agriculture. They are characterized by their advanced properties, such as high tensile strength, chemical resistance, and flame retardancy. The use of technical textiles has been increasing in recent years, driven by the demand for innovative and high-performance materials in various industries. This, in turn, is expected to drive the growth of global textile market in the coming years.

The textile industry is an important supplier of raw materials for the production of technical textiles. Technical textiles are often made using synthetic fibers such as polyester, nylon, and aramid, as well as natural fibers such as cotton and wool. These fibers are then processed using various techniques such as weaving, knitting, and nonwoven techniques to create the desired properties. The growth of the technical textiles market is creating opportunities for textile companies to diversify their product offerings and expand into new industries, thereby spurring the growth of global textile market.

Smart Textiles

Smart textiles are revolutionizing the textile industry by offering new and innovative products that have the potential to boost growth and revenue. The integration of electronics and technology into textiles is opening up a whole new world of possibilities for textile manufacturers, designers, and retailers. One of the ways that smart textiles are supporting the growth of the global textile market is by creating new product categories. For example, smart fabrics are being used in the medical industry to create garments that can monitor patients remotely, reducing the need for in-person visits and increasing the efficiency of healthcare delivery. This has led to the creation of new product lines for textile manufacturers that cater specifically to the medical industry. In addition to creating new product categories, smart textiles are also expanding the market for traditional textile products. For example, the incorporation of conductive threads into fabrics has led to the development of smart clothing that can be used to monitor fitness levels, track activity, and provide real-time feedback to the wearer. This has increased the demand for athletic apparel and has opened up new revenue streams for traditional textile manufacturers.

Smart textiles are also supporting the growth of the global textile market by offering increased customization options. With the ability to integrate electronic components into fabrics, designers can create garments that are tailored to specific customer needs and preferences. This level of customization not only offers a competitive advantage to textile manufacturers but also increases customer satisfaction and loyalty. Another way that smart textiles are supporting the growth of the global textile market is by offering new opportunities for collaboration and partnerships. The development of smart textiles requires expertise in both textiles and electronics, which has led to the formation of partnerships between textile manufacturers and technology companies. This collaboration has resulted in the creation of new products and has accelerated the pace of innovation in the textile industry. Smart textiles are helping to drive sustainability in the textile industry. By creating products that can monitor and optimize energy usage, reduce waste, and minimize environmental impact, smart textiles are providing a more sustainable alternative to traditional textiles. This is not only good for the environment but also appeals to environmentally conscious consumers, which can lead to increased demand and growth for the global textile market.

Supportive Government Policies

Government policies can have a significant impact on the growth and development of the global textile market. Many governments offer incentives for companies to invest in the textile industry, such as tax breaks, subsidies, and grants. For example, the Indian government offers a Technology Upgradation Fund Scheme (TUFS) to support textile manufacturers in upgrading their machinery and technology. Also, in India, 100 percent of Foreign Direct Investments (FDI) are allowed in textiles, which is expected to positively the market growth. Governments also implement trade policies that support the growth of the textile industry. This includes tariff reductions, free trade agreements, and preferential trade agreements. For instance, the African Growth and Opportunity Act (AGOA) allows African countries to export textiles and apparel to the US duty-free. Governments can also implement environmental regulations that promote sustainable practices in the global textile market. For example, the European Union's REACH regulation regulates the use of chemicals in the textile industry to ensure the safety of workers and the environment.

Initiatives Taken By Various Companies

Leading companies in the global textile market have taken a range of initiatives to address the challenges and opportunities in the industry. Many leading textile companies have launched initiatives to promote sustainable practices in the industry. For example, H&M's "Conscious Collection" uses sustainable materials such as organic cotton and recycled polyester. Adidas has launched a program called "Parley for the Oceans" that uses recycled plastic to create shoes and apparel. This, in turn, is expected to drive the growth of global textile market.

Textile companies are also investing in digitalization and automation to improve efficiency and reduce costs. For example, Italian textile company Itema has launched a new generation of weaving machines that use artificial intelligence and automation to increase production speed and reduce waste. The use of digital technologies such as 3D printing, digital printing, and virtual prototyping is becoming increasingly popular in the global textile market. These technologies are improving efficiency, reducing waste, and enabling more personalized and customized products.

Market Segmentation

Global Textile Market can be segmented by type, raw material, product, process, application, and region. Based on type, global textile market can be yarn & fiber and processed fabrics & apparel. By raw material, global textile market can be categorized into cotton, PSF, PFY, NFY, VSF, VFY, PPMFY, and others. By product, global textile market can be fragmented into natural fibers, polyesters, nylon, rayon, and others. By process, global textile market can be split into woven and non-woven. In terms of application, the global textile market can be segmented into household, technical, fashion & clothing, and others. Household applications can be categorized into bedding, kitchen, upholstery, towel, and others. The technical applications can be fragmented into construction, transportation, medical, protective, and others. The fashion & clothing segment can be distributed into apparel, ties & clothing accessories, handbags, and others.

Market Players

BSL Ltd., INVISTA Srl., Lu Thai Textile Co., Ltd., Paramount Textile Ltd., Paulo de Oliveira, S.A., Successori REDA S.p.A., Shadong Jining Ruyi Woolen Textile Co. Ltd., Sinopec Yizheng Chemical Fibre Company Ltd., China textiles Ltd., Rhodia SA, Li & Fung Group, Modern Woollens Ltd., JCL Ltd., Grasim Industries Limited, Masco Corporation among others are some of the leading players operating in the global Textile market.

Recent Developments

• Many leading textile companies have launched initiatives to promote sustainable practices in the industry. For example, H&M's "Conscious Collection" uses sustainable materials such as organic cotton and recycled polyester. Adidas has launched a program called "Parley for the Oceans" that uses recycled plastic to create shoes and apparel.
• In 2020, Levi's launched a new program called SecondHand, a new buyback program in the United States. This program allows customers to trade in old pieces in exchange for a gift card equivalent to a portion of each item’s perceived value. These clothes received as a part of the program then go up for sale on the company’s website, where customers can directly purchase them.
• In 2019, Adidas launched the Futurecraft Loop, a 100% recyclable running shoe made from a single material. The shoe is designed to be disassembled and recycled into a new shoe at the end of its lifespan.

Report Scope:

In this report, Global Textile Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Textile Market, By Type:

• Yarn & Fiber
• Processed Fabrics & Apparel

Textile Market, By Raw Material:

• Cotton
• PSF
• PFY
• NFY
• VSF
• VFY
• PPMFY
• Others

Textile Market, By Product:

• Natural Fibers
• Polyesters
• Nylon
• Rayon
• Others

Textile Market, By Process:

• Woven
• Non-Woven

Textile Market, By Application:

• Household
• Bedding
• Kitchen
• Upholstery
• Towel
• Others
• Technical
• Construction
• Transportation
• Medical
• Protective
• Others
• Fashion & Clothing
• Apparel
• Ties & Clothing Accessories
• Handbags
• Others
• Others

Textile Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in Global Textile Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.


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