Textile Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview

The Textile by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/textile-global-market-report

According to The Business Research Company’s Textile, The textile market size has grown strongly in recent years. It will grow from $638.03 billion in 2023 to $689.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%.  The  growth in the historic period can be attributed to growth in world population, increased demand for man-made fibers, government initiatives for the textile industry, strong economic growth in emerging markets and a ban on plastic usage.

The textile market size is expected to see strong growth in the next few years. It will grow to $903.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.  The growth in the forecast period can be attributed to global population growth and urbanization, a rapid growth in ecommerce, rising spend on leisure, increasing retail penetration, increasing internet penetration and smartphone usage and growing preference for contactless delivery solutions. Major trends in the forecast period include focus on adopting digital textile printing inks, focus on use of non-woven fabrics, focus on using organic fibers, focus on sustainable fibers, focus on using blockchain in the manufacturing processes, focus on implementing digital platforms in textile supply chain management, focus on collaborating with technology companies to design and develop smart fabrics, focus on adopting robotics and automation, focus on investing in artificial intelligence and focus on partnerships and collaborations to develop innovative products.

The increasing demand for online shopping is expected to drive the textile manufacturing market. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, driving the growth of the textile manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of traditional garments by giving larger exposure to producers who were confined to one geography.

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The textile market covered in this report is segmented –

1) By Type: Fabrics, Yarn, Fiber And Thread, Home Furnishings And Floor Coverings, Textile And Fabric Finishing And Fabric Coating Mills, Other Textile Product Mills

2) By Material: Cotton, Jute, Silk, Synthetics, Wool

3) By Process: Woven, Non-Woven

 Top Major Players:
Toray Industries Inc.
Sinopec Group
Mohawk Industries Inc.
TJX Companies
Far Eastern New Century

Asia-Pacific was the largest region in the textile market in 2023.

Sub segment: Broadwoven Fabrics, Narrow Fabric Mills And Schiffli Machine Embroidery, Non-Woven Fabrics, Knitted Fabrics, Home Furnishings, Floor Furnishings,Textile And Fabric Finishing Mills, Fabric Coating Mills

Advancements in wireless technologies and rising demand for connectivity are driving the demand for smart textiles. Smart textiles are fabrics capable of interacting with their environment. They have the ability to react to physical stimuli such as thermal, mechanical, electrical, and chemical sources. Sensors, actuators, and fabrics are the major components of smart textiles. The materials used in smart textiles include optical fibers, metals, and conductive polymers. They are widely used in fashion, entertainment, medical, transportation, sports and fitness, and the military. For example, Cityzen Science’s, d-shirt, has a wide range of functions such as heart rate monitor, built-in GPS, accelerometer, altimeter.

The textile market report table of contents includes:

1. Executive Summary
2. Textile Market Characteristics
3. Textile Product/Service Analysis -Product/Service Examples
4. Textile Market Trends And Strategies
5. Textile Market – Macro Economic Scenario
…
68. Global Textile Market Competitive Benchmarking
69. Global Textile Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Textile Market
71.Textile Market Future Outlook and Potential Analysis
72. Appendix

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