Textile Market worth $903.45 Billion by 2028

Overview and Scope

Textile refers to the fundamental materials created from woven fibers, but additional techniques like sewing are used to use those materials to create garments, clothes, and other goods.

 

Sizing and Forecast

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.

 

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Segmentation & Regional Insights

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

 

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

 

Asia-Pacific was the largest region in the textile market in 2023. Western Europe was the second largest region in the textile market. The regions covered in the textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

 

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Major Driver Impacting Market Growth

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.

 

Key Industry Players

Major companies operating in the textile market report are Toray Industries Inc., Sinopec Group, Mohawk Industries, Inc., TJX Companies, Far Eastern New Century, Tex Tech Industries, Ashley Furniture Industries, Inc., Beaulieu International Group, Santana Textiles LLC, Yarnz, Australian Textile Mills (ATM), Bruck Textiles, Spunchem Interntaional, Old Navy, Mattex Yarns, Daedong Company Limited, Magellan (Old Aladdin) Co. Ltd, Yarns Dubai, Arvind Ltd, Bombay Rayon Fashions Limited, Berry Global, Silkoplus German Embroidery Threads, Luthai Textile, Huafu, Siltex Brasil Ltda, Jiangsu Sunshine Co Ltd, Huafang Group Co Ltd, Shangtex Holding Co. Ltd., Shijiazhuang Changshan Textile Co Ltd, Margo, Lenzing, Coats, Laxtons, Ugurteks, Ardalanish Mill, , European Spinning Group, AMANN Group, Simba Textile Mills Pty. Ltd., Shandong Jining Ruyi Woolen Textile Co Ltd, Elena Furs, Fabreex, United Textiles, Michael Kors, Domarex SC, Tarkett S.A, Coats Bell Div. of Coats Canada Inc., Santista Argentina SA, Unifi, Inc., Albany International Corp., Vardhman Textiles, InPro Corporation, Dunmore Corp., Fabrico, The Yarn Room, Bally Ribbon Mills, Paramount Texteis, Converse, Brooks Brothers, Hollister, Aeropostale, American Eagle Outfitters, Abercrombie & Fitch, Saint Gobain Tape Solutions, Pettenati Industria Textil SA, GAP, Levi Strauss & Co., National Spinning Co, Evora SA, Hyosung TNC, Fabricato SA, Reliance Industries Limited, Sarwani International Corporation, Saudi Spinning & Textile Mill, Ralph Lauren, Fiacao Sao Bento S.A., Slywia Samulak, Town End Alpacas, Como Luxury fabrics, SELA, Gale Pacific Fze, Textil Sao Joao, Namsung Match Co. Ltd, Weiqiao Textile Company Limited, Aratex Group, Shandong Demian Incorporated Company, Terico Golzar, Fibertex South Africa, Elasticos Yarns, Trelleborg Engineered Coated Fabrics, Leena Egypt, AlSaraTex Co., Integrated Fibres Limited

 

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
6. Global Textile Market Size and Growth
7. Textile Market Segmentation

……………..

70. Key Mergers And Acquisitions In The Textile Market
71. Textile Market Future Outlook and Potential Analysis
72. Appendix

 

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Textile Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Textile Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Textile Market, Segmentation By Process, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

……………

Table 144: Toray Industries Inc. Financial Performance

Table 145: Sinopec Group Financial Performance

Table 146: Mohawk Industries, Inc. Financial Performance

Table 147: TJX Companies Financial Performance

Table 148: Far Eastern New Century Financial Performance

 

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