Global Textile Market is valued approximately USD 961 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.4 % over the forecast period 2019-2026. A textile is a flexible material comprising of a web of natural or artificial fibers (yarn or thread). These fibers are produced by spinning raw fibres of cotton, wool, , , hemp flax or other materials to produce long strands. Textiles are formed by braiding , knitting, , knotting , tatting, crocheting, felting, or weaving. These textiles are used for clothing and for containers such as bags and baskets. Further these can also be used in households for carpeting, furnishing, window shades, towels and more. The rising application for textiles drives the market growth. The rising apparel industry coupled with the constantly changing trend for clothing drives the market growth for textiles. As with the changing trends in the Fashion , the people are compelled to buy new apparels which are made from the textiles. Moreover, rising disposable income, along with population and urbanization drives the market growth. As per the OECD, the average household net adjudted disposable income per capita in US is USD 45,284 a year. While, the average household net adgusted disposable income per capita in USD 35,725 a year. Furthermore, the emergence of the e-commerce portals have increased the sales of the apparels and other textile products fueling the market growth. However, the spread of the COVID-19 virus across the globe has negatively impacted the market growth. As the manufacturing facilities for textiles are temporarily shut down, the stock of the textiles will decrease. Also, amidst the crisis the delivery from e-commerce platforms has been put on hold by governments which tremendously decreases the sales of textile products impeding the market growth. Although, introduction of new advanced materials, such as smart fabrics creates potential growth opportunity for the textile market over the forecast period of 2020-2026.
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The regional analysis of global Textile market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the region being the largest producer and exporter of the raw materials and garments specially China. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising disposable income, along with rapid urbanization and investments in the textile manufacturing in the developing countries such as India, Bangladesh and more would create lucrative growth prospects for the Textile market across Asia-Pacific region.
Major market player included in this report are:
Lu Thai Textile Co., Ltd
Paramount Textile Mills Limited
Paulo de Oliveira, S.A.
Successori Reda S.p.A
Shandong Jining Ruyi Woolen Textile Co Ltd.
Modern Woolens Ltd
Mayur Suitings Fabrics (Brand of RSWM Ltd)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Fashion & Clothing
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Textile Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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