Global Textile Market – Industry Trends and Forecast to 2030

Textile Market Analysis and Size

The textile can be defined as a type of cloth or woven fabric produced by spinning raw fibers into long and twisted lengths. It can also be defined as any material made up of interlacing fibers, including carpet, shirts, and others.

Data Bridge Market Research analyses that the Textile market which was USD  1,122.00 million in 2022, would rocket up to USD 2,961.72 million by 2030, and is expected to undergo a CAGR of 12.90% during the forecast period. The rising use of textiles across key end users like healthcare, defense, automobile, and others is contributing to the market growth. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Textile Market Scope and Segmentation

Market Definition

The term Textile refers to a type of cloth or woven fabric produced by spinning raw fibers into long and twisted lengths. It can also be defined as any material made up of interlacing fibers, including carpet, shirts, and others.

Textile Market Dynamics

Drivers

• Increasing textile applications in various industries.

The widespread usage of textiles across key end use industries, like healthcare, defense, automobile, and others, is contributing to the market growth. The growing fashion and clothing industry in emerging economies, owing to the rising disposable income and increasing population, is likely to propel the demand for textiles.

• Rapidly growing consumer preference towards sustainable products.

The rapidly growing consumer preference towards sustainable products is forcing major textile companies to focus on restructuring their business and investing in manufacturing practices that target sustainable products. There has been an increasing trend in the use of smart textiles in the market that use optical fibers, metals, and various conductive polymers to interact with the environment.

Opportunities

The rising application will create growth opportunities for the textile market and increase its adoption in several markets. Design innovation, along with the development of new upholstery products, will further bring various opportunities for the growth of the textile market for the market players in the forecast period of 2023 to 2030.

Restraints/Challenges

On the other hand, the pandemic has acted as a restraint to the global market growth for textiles which will further hinder the growth potential of the textile market.  Also, the adoption of recycling techniques is projected to challenge the market in the forecast period of 2023-2030.

This Textile market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Textile market contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In Feb 2021, The Indian Government announced the setting up seven mega textile parks in the next three years. The government has also decided to rationalize the duties on raw material inputs to manmade textiles by reducing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5 %
• In Feb 2021, Paraguay’s Ministry of Industry and Commerce announced that it would invest USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations.

Global Textile Market Scope

The Textile market is segmented on the basis of raw material, product, application, and process type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Raw Material

• Cotton
• Chemical
• Wool
• Silk
• Others

Product

• Natural
• Fibers
• Polyester
• Nylon
• Others

Application

• Household
• Technical
• Fashion & Clothing
• Others

Process Type

• Woven
• Non-Woven

Global Textile Market Regional Analysis/Insights

The textile market is analysed and market size insights and trends are provided by raw material, product, application, and process type, as referenced above.

The countries covered in the Textile market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Asia-Pacific is expected to dominate the textile market due to the rising demand for apparel along with the high production of cotton and easy availability of labor at low cost. Europe region is expected to hold the largest growth rate due to the imposition of stringent regulations on product quality.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 because of the rising demand for apparel in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Textile Market Share Analysis

The textile market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the textile market.

Some of the major players operating in the textile market are:

• Lu Thai Textile Co. Limited (China)
• REDA GROUP (France)
•  Paramount textiles (India)
• Paulo de Oliveira
•  SA (Portugal)
• Nike Inc. (US)
•  Adidas AG (Germany)
• Aditya Birla Management Corporation Pvt. Ltd. (India)
• Levi Strauss & Co. (US)
• Arvind Limited (India)
• Bombay Rayon Fashions Limited (India)
•  Fabindia (India)
• Cotton Corporation of India (India)
• Dorothy Perkins (UK)
•  Bruno Banani (Germany)
• CONE DENIM LLC (US)
•  Canterbury Antex Knitting Mills (US)
•  Coville (US)
• Loyal Textile (India)
•  Reliance Industries Limited (India)
• YI CHUN TEXTILE LTD (Taiwan)
•  Shahlon Group (India)
• Weiqiao Textile Company Limited (China)
•  China Textiles (Shenzhen) Co.Ltd (China)
• HuaFang Group (China).

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