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The Textile Manufacturing Market size is forecast to increase by USD 346.05 billion at a CAGR of 4.52% between 2023 and 2028. Moreover, the market is experiencing rapid growth driven by several factors, including the rising demand for textile within the automotive sector, where they are used extensively. Additionally, there's a notable shift towards adopting eco-friendly practices in textile manufacturing, aligning with global sustainability goals. Another significant contributor to market growth is the trend of premiumization, where textile products are positioned as high-quality and luxurious, often associated with well-established brands.
Market Scope |
Details |
Forecast period |
2024-2028 |
Historic period |
2018-2022 |
Base year |
2023 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.52% |
Market Growth 2024-2028 |
USD 346.05 billion |
This emphasis on quality and branding adds value to the products, attracting discerning consumers who prioritize quality, durability, and environmental consciousness. Together, these trends and practices fuel the accelerated growth trajectory of the textile market. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The market is propelled by diverse factors such as designing innovations, rising apparel demand, and the integration of technology like automation in textile machinery and digital fabric printing. Key trends include the shift towards sustainable fibers , carbon black and eco-friendly textiles, the growing demand for smart textiles, and the adoption of conductive polymers in fabric production. However, challenges like ensuring health and safety standards, meeting durability requirements, and addressing environmental sustainability concerns remain significant hurdles for the industry's growth and evolution. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the increasing focus on eco-friendly practices in the manufacturing process. The market is experiencing a considerable shift towards sustainability and eco-friendly textile manufacturing processes. In addition, growing environmental awareness among consumers and industry stakeholders has resulted in a shift towards an environmentally friendly textile manufacturing process.
Moreover, manufacturers are increasingly using advanced dyeing machines that use eco-friendly dyes and procedures. In addition, this transformation is the result of an industry-wide effort to connect with eco-conscious principles, meet severe environmental requirements, and meet expanding consumer demand for sustainable and responsibly made textiles. Therefore, the global market is undergoing a change towards more environmentally friendly and sustainable manufacturing processes. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market is the growing demand for smart textiles. The ability of textiles to adapt to any shape has enabled the integration of electronic components in textiles. In addition, smart textiles are also known as interactive textiles in which textiles are integrated with electronic components like sensors. Furthermore, the features of smart textiles include heat management, illumination, and health monitoring.
Moreover, smart textiles in transportation improve safety and functionality by embedding sensors that monitor vital signs and offer real-time data for better performance. Smart textile producers are integrating electronic components into fibers due to their flexibility, lightweightness, and low production costs. In addition, the market is expected to grow over the next five years owing to certain emerging trends like the use of nanotechnology and the incorporation of Bluetooth Low Energy (BLE) technology. Hence, such factors are driving the market during the forecast period.
Fluctuating crude oil prices are one of the key challenges hindering the market. Textiles are mainly classified as natural and synthetic. In addition, synthetic textiles are produced from polymers obtained from crude oil through the polymerization process. Furthermore, the prices of these polymers depend on crude oil prices, as crude oil is a key raw material for polymer production.
Therefore, fluctuating crude oil prices in the market directly impact polymer prices. In addition, frequent fluctuations in crude oil prices subsequently affect the operations of the global market. In addition, textile manufacturing requires significant energy consumption for processes such as engine driving, air conditioning and lighting, and heat generation. Furthermore, such processes widely use gas, oil, and coal. Hence, such factors are hindering the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
B.C.CORP: The company offers textile manufacturing such as dyeing and printing and weaving of silk fabrics for ready to wear, bridal and eveningwears.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a diverse range of segments and industries, reflecting the intricate interplay between fashion, technology, sustainability, and functionality. From designing innovative fabrics to producing medical accessories and integrating optical fibers and metals into textiles, the market showcases a blend of creativity and utility. Renovation and evolution in the hospitality and tourism industry have also driven demand for specialized textiles, prompting advancements in automation in textile machinery and the development of smart textiles. Moreover, the emphasis on sustainable fibers and eco-friendly textiles like Modern Woollens has reshaped the apparel demand landscape, fueling growth in the fashion industry and e-commerce platforms catering to textiles. Within the Textile industry, there's a continuous exploration of flexible materials, innovative yarn compositions, and various textile techniques like knitting, crocheting, weaving, and creating bedding solutions. The integration of conductive polymers has opened new possibilities for textiles in commercial construction and interior design trends, meeting durability and performance standards while focusing on environmental sustainability.
The natural fibers segment is estimated to witness significant growth during the forecast period. Natural fiber segments are derived from plant and animal sources. In addition, cotton, silk, linen, wool, hemp, and jute are the major types of natural fibers. Furthermore, these fibers are used extensively to produce garments, apparel, construction materials, medical dressings, and automotive interiors.
The natural fibers segment was the largest segment and was valued at USD 510.43 billion in 2018. Moreover, wool is obtained from sheep and is used in making woolen clothing. Wool fiber is highly flexible and resilient, traps air, provides insulation, and exhibits thermal stability. In addition, silk is a protein filament spun by silkworms when they make cocoons. In addition, silk fibers are used for applications such as clothing, tasar materials, tablecloths, curtains, upholstery, cushions, valets, clutches, ties, and socks. Furthermore, the silk market is growing at a healthy rate, given the various benefits of silk, including its suitability for all climatic conditions, quick-drying nature, durability, and softness. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
APAC is estimated to contribute 62% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is fuelled by textile consumption in the form of natural fibers, polyesters, and nylon is strong in the region since APAC has a large presence of textile vendors and a consumer base, while raw materials and low-cost labor are easily available. In addition, the presence of many textile manufacturers in China, India, Japan, Pakistan, South Korea, and Bangladesh is benefiting the APAC textile industry, given the availability of low-cost labor. Moreover, China was the leading textile consumer globally in 2023, as the demand for textiles in fashion and household applications is high in the country. Furthermore, factors such as shifting consumption patterns, population growth, rising disposable incomes, and growing demand for clothing and home furnishing products are fuelling the market in the region. Hence, such factors are driving the market growth in APAC during the forecast period.
The research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
The market is undergoing a significant transformation driven by various key factors. Automation in textile machinery has revolutionized production processes, enhancing efficiency and reducing labor costs. The industry is witnessing a surge in demand for sustainable fibers as environmental consciousness grows, leading to the development of eco-friendly textiles. The fashion industry plays a crucial role in driving apparel demand through e-commerce platforms and influencing design trends.
Moreover, technological advancements have introduced flexible materials and innovative techniques like digital fabric printing. This sector encompasses various materials such as yarn, knitting, and crocheting and utilizes spun bond, melt-blown, air-laid, needle punch, and wet-laid technologies. Segments like cotton, wool-based textiles, polyethylene (PE), polypropylene (PP), aramid, and polyamide cater to diverse consumer needs, including sports & apparel, home-furnishing, and commercial construction sectors.
Furthermore, the market is influenced by interior design trends and performance standards, emphasizing durability, environmental sustainability, and health and safety. Companies are integrating technology like Celliant Fiber and Infrared fiber technology while addressing ocean plastic pollution through upcycled ocean waste plastic solutions. With a focus on consumer awareness, online shopping, and digital inks, the market is poised for continued innovation and growth. In terms of materials, the cotton segment and wool-based textiles segment continue to dominate, catering to the diverse needs of consumers in the fashion segment and home-furnishing textile products. The market also reflects changing consumer behaviors, with a focus on consumer spending and a shift towards sustainable and eco-friendly textiles. Integration of technology is another key trend as manufacturers explore ways to improve durability and performance standards while addressing health and safety concerns. This includes leveraging conductive polymers and clean impact textiles to create innovative solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.38 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 62% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aditya Birla Management Corp. Pvt. Ltd., B.C.CORP., BSL Ltd., China Petrochemical Corp., Donear Industries Ltd., Far Eastern New Century Corp., Hyosung TNC Corp., Industria de Diseno Textil SA, JCT Ltd., Koch Industries Inc., Lu Thai Textile Co. Ltd., Modern Woollens, Nisshinbo Holdings Inc., paramount textiles, Paulo de Oliveira, PVH Corp., Successors Reda SBpA, Toray Industries Inc., VF Corp., and Zalando SE |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Additional Value/Volume Data
6 Five Forces Analysis
7 Market Segmentation by Type
8 Market Segmentation by Application
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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