Global textiles sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.
The economic value generated by the textile industry was estimated at approximately USD 1.7 trillion in 2022. This economic output is an amalgamation of businesses that are involved in the manufacturing, distribution & supply, and application of textiles.
Technical Textile Market Growth & Trends
The global technical textile market size was valued USD 218.88 billion in 2022, registering a CAGR of 7.7% during 2023 to 2030, according to a new report by Grand View Research, Inc.
Technical textiles are used to suffice the high-performance requirements of end-users related to construction, transportation, medical, and protective applications. Nylon, polypropylene, polyester, and acrylic fibers are some key raw materials used for manufacturing textiles required in technical applications.
Technical textiles have been witnessing increasing penetration in different end-use industries such as automotive, aerospace, marine, medical, and construction since they offer several technical advantages such as durability, strength, and versatility that may not be offered by conventional textiles. Thus, the economies such as China, the U.S., India, and Germany with high concentrations of industrial clusters exhibit higher consumption of these textiles.
Household Textile Market Growth & Trends
The global household textile market was valued USD 152.49 billion in 2022, registering a CAGR of 7.3% during 2023 to 2030, according to a new report by Grand View Research, Inc.
Textiles considered under the household application segment of the market include the ones used in, some of which include bedding, kitchens, upholstery, and towels. Natural fibers such as cotton and linen, as well as synthetic fibers such as polyester and acrylic polyamides, are mainly used for manufacturing household textiles. These textiles are referred to as soft furnishings and include items such as dish towels, bath towels, shower curtains, table linens, and others.
China accounted for just over 19% of the global demand for household textiles in 2022, with the country also supplying 30% of global fabric material. The U.S. follows suit after China, as the second largest consumer of household textiles. Both countries are characterized by the significant development of their agrarian economies and the concurrent textile demand of their respective populations.
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Fashion Textile Market Growth & Trends
The global household textile market was valued USD 1,227.74 billion in 2022, registering a CAGR of 6.9% during 2023 to 2030, according to a new report by Grand View Research, Inc.
Fashion is gaining importance in the lifestyle of consumers worldwide owing to their constant exposure to advertisements and sales that result in impulsive buying behavior in them. In addition, social media is a key factor contributing to the fast and latest fashion trends. Companies such as H&M and Zara are utilizing social media platforms to reach out to their potential customers and enhance their share in the market.
The fashion segment led the textile market in terms of revenue in 2022 by accounting for a share of over 51% of the market. This segment has been further categorized into apparel, ties & clothing accessories, and handbags. Surging demand for crease-free suiting and shirting, as well as quality dyed and printed fabrics from consumers in countries of Asia Pacific, is expected to drive the growth of the fashion segment in the coming years.
Competitive Landscape
Key players operating in the Textiles Industry are –
• Invista
• Weiqiao Textile Co., Ltd.
• BSL Limited
• INVISTA S.R.L
• Lu Thai Textile Co., Ltd
• Paramount Textile Limited
• Paulo de Oliveira, S.A
• Successori REDA S.p.A
• Shandong Jining Ruyi Woolen Textile Co Ltd.
• China Textile (Shenzhen) Co. Ltd
• Modern Woollens Ltd.
• JCT Limited
• Shandong Demian Incorporated Company
• Shijiazhuang Changshan Textile Co., Ltd
• Weiqiao Textile Co Ltd
• DBL Group
• B.D. Textile Mills Pvt. Ltd.
• IBENA Inc
• Bahariye AS
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
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