Asia Pacific to dominate the Textile Market through 2028
Global
Textile Market to be driven by the increasing demand for clothing and home
furnishings during the forecast period.
According to TechSci Research report, “Textile Market –Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global
Textile Market is anticipated to grow at an impressive rate in the forecast
period, 2024-2028. The increasing demand for textile products such as
clothing, home textiles, and industrial textiles is driving the growth of the
global textile market. The rising population, increasing disposable incomes,
and changing lifestyles are the major drivers of this demand. The global
fashion industry is growing at a rapid pace, driven by the increasing demand
for fashionable and trendy clothing. This growth is driving the demand for
textile products, especially natural fibers such as cotton, wool, and silk.
Furthermore, the textile industry is witnessing significant technological
advancements, such as the use of nanotechnology in textile production, 3D
printing of textiles, and the use of smart textiles. These advancements are
improving the quality, durability, and functionality of textile products,
driving the demand for global textile market.
Global textile
market is witnessing a significant trend towards sustainability, with consumers
increasingly demanding eco-friendly and sustainable textile products. The use
of organic cotton, recycled fibers, and sustainable manufacturing processes are
some of the key trends in this area. The use of digital technologies such as
AI, IoT, and blockchain is transforming the textile industry, improving supply
chain efficiency, and reducing costs. The use of digital technologies is also
improving the design, production, and marketing of textile products. The trend
towards customization is growing in the global textile market, with consumers
increasingly demanding personalized textile products. The use of digital
technologies such as 3D printing is enabling mass customization of textile
products, improving customer satisfaction. These trends are expected to create
lucrative opportunities for the growth of global textile market in the coming
years.
However, the global
textile market is facing intense cost pressure due to the increasing
competition and rising raw material costs. This pressure is forcing textile
manufacturers to improve their cost efficiency and productivity. The textile
industry is one of the largest polluters globally, with the production of
textiles generating significant waste and emissions. The industry is facing
increasing pressure to reduce its environmental impact and adopt sustainable
practices. The textile industry is also facing labor issues, such as low wages,
poor working conditions, and human rights abuses. The industry is facing
increasing pressure to improve its labor practices and ensure fair wages and safe
working conditions for its workers.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Textile Market”
Global Textile
Market can be segmented by type, by raw material, by product, by process, by
application, and by region. In terms of application, the global textile market
can be segmented into household, technical, fashion & clothing, and others.
The household applications can be categorized into bedding, kitchen,
upholstery, towel, and others. The technical applications can be fragmented
into construction, transportation, medical, protective, and others. The fashion
& clothing segment can be distributed into apparel, ties & clothing
accessories, handbags, and others. The fashion & clothing segment dominates
the global textile market, driven by the increasing demand for fashionable and
comfortable clothing.
Regionally,
global textile market can be categorized into North America, Europe, Asia
Pacific, South America, and Middle East & Africa. The Asia-Pacific region
is a dominant player in the global textile market, accounting for a significant
share of the total revenue. The region is home to several textile manufacturing
hubs, such as China, India, Bangladesh, and Vietnam, which are known for their
low-cost production capabilities. The textile industry in the Asia-Pacific
region is witnessing significant growth, driven by various factors such as
rising disposable incomes, growing population, and increasing demand for
textile products. The clothing segment dominates the textile market in the
region, driven by the increasing demand for fashionable and affordable
clothing. China is the largest textile market in the Asia-Pacific region,
accounting for a significant share of the total revenue. The country is the
largest producer of textiles and clothing globally, with a significant portion
of its textile exports going to the United States and European Union. The
Chinese textile industry is witnessing significant growth, driven by the
increasing demand for textile products and government initiatives to promote
the industry. India is also emerging as a hub for technical textiles, driven by
the increasing demand for high-performance textiles in various industries such
as automotive, aerospace, and medical.
Major companies operating in the Global Textile
Market are:
- BSL Ltd.
- INVISTA Srl.
- Lu Thai
Textile Co., Ltd.
- Paramount
Textile Ltd.
- Paulo de
Oliveira, S.A.
- Successori
REDA S.p.A.
- Shadong Jining
Ruyi Woolen Textile Co. Ltd.
- Sinopec
Yizheng Chemical Fibre Company Ltd.
- China textiles
Ltd.
- Rhodia SA
- Li & Fung
Group
- Modern
Woollens Ltd.
- JCL Ltd.
- Grasim
Industries Limited
- Masco
Corporation
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“The
demand for sustainable and eco-friendly textiles has increased in recent years,
with consumers looking for products made from natural or recycled materials. Companies
are adopting sustainable practices, such as using organic cotton, recycled
polyester, and biodegradable fabrics. The circular economy is a model that aims
to reduce waste and keep materials in use for as long as possible. In the
textile industry, this involves designing products for reuse or recycling, and
implementing closed-loop production processes.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
Textile Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented
By Type (Yarn & Fiber, Processed Fabrics & Apparel), By Raw Material
(Cotton, PSF, PFY, NFY, VSF, VFY, PPMFY, Others), By Product (Natural Fibers, Polyesters,
Nylon, Rayon, Others), By Process (Woven, Non-woven), By Application (Household
(Bedding, Kitchen, Upholstery, Towel, Others), Technical (Construction,
Transportation, Medical, Protective, Others), Fashion & Clothing (Apparel,
Ties & Clothing Accessories, Handbags, Others), Others), By Region and Competition”, has
evaluated the future growth potential of Global Textile Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Textile Market.
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