What are the growth opportunities and trend analysis of Textile Market?

Posted on 2022-06-17 by researchinsights in Consumer Services // 0 Comments

San Francisco, California , USA, June 17, 2022 — /EPR Network/ —

Textile Industry Overview

The global textile market size is anticipated to reach USD 1,420.3 billion by 2030, registering a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. The rising consumer awareness levels coupled with rapidly changing trends in the fashion industry are projected to drive market growth. The rise in the e-commerce platforms that support sales and distribution of different types of products manufactured by the textile industry is also expected to drive the demand for textile-related products, thereby augmenting the market growth. In addition, stringent regulations to ensure labor or worker safety in various application industries are propelling the demand for Personal Protective Equipment (PPE), which requires wool or treated cotton as a raw material.

Textile Market Segmentation

Grand View Research has segmented the global textile market on the basis of raw material, product, application, and region:

Based on the Raw Material Insights, the market is segmented into Cotton, Chemical, Wool, Silk and Others.

Cotton led the market and accounted for more than 39% share of the global textile revenue in 2021. Cotton being the world’s most important natural fiber is attributed due to its superior property such as high strength, absorption, and color retention.
Wool-based textile accounted for 13.3% of the market in terms of revenue in 2021.

Based on the Product Insights, the market is segmented into Natural Fibers, Polyester, Nylon and Others.

Natural fibers led the market in 2021 accounting for the maximum revenue share of more than 44.5%.
The polyester segment is expected to witness a significant growth rate from 2022 to 2030, which can be attributed to the rising demand for polyesters due to different properties, such as high strength, chemical & wrinkle resistance, and quick-drying properties.

Based on the Application Insights, the market is segmented into Household, Technical, Fashion & Clothing and Others.

The fashion application segment led the market and accounted for more than 73% of the global revenue share in 2021 owing to the increased consumer spending on clothing and apparel.
The demand for textiles in the technical segment is expected to grow at a significant CAGR, in terms of volume, over the projected period, owing to its high-performance properties and end-user applications.

Textile Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market has been witnessing rapid growth due to growing expansion and mergers & acquisitions activities. The companies are trying to increase their sales through various government trade agreements along with partnerships with e-commerce portals, such as Amazon, Flipkart, e-Bay, and others.

Some prominent players in the global Textile market include

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.
Mayur Suitings
JCT Ltd.

Order a free sample PDF of the Textile Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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