IMARC Group has recently released a new research study titled “Textile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global textile market share, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The market size reached US$ 985 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,268 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Textiles are flexible materials made from natural or synthetic fibers and are fundamental to a wide array of applications, ranging from clothing and home decor to industrial uses. These materials offer the benefits of durability, comfort, and versatility, making them integral to daily life as well as specialized sectors like healthcare and automotive industries. Characteristically, textiles come in a multitude of types to meet various functional needs and aesthetic preferences. From cotton and wool to polyester and nylon, the choices are abundant. Some textiles also feature added properties such as water resistance, flame retardancy, or antimicrobial treatments for enhanced functionality. A defining feature of textiles is their adaptability; their diverse range allows for customization in color, texture, and strength, providing solutions tailored to specific applications. Moreover, the development of sustainable and eco-friendly options, like organic cotton or recycled polyester, has broadened their consumer base by appealing to environmentally conscious individuals.
What are the growth prospects and trends in the textile industry?
The rising awareness about sustainable living and ethical consumption stands as a critical factor driving the market growth of textiles. In addition to this, advancements in textile engineering, including smart textiles and nanotechnology applications, are propelling the market. Furthermore, the shift in consumer preferences toward higher-quality, durable fabrics is favorably influencing the market. The modern lifestyle, which often leans towards comfort and convenience, supports the need for versatile and easy-care textiles. Coupled with this, the ever-growing fashion industry, with its demand for diverse and novel fabrics, is also contributing to the market growth of textiles. Additional drivers include an increase in disposable income, myriad applications from apparel to technical textiles used in medical and industrial settings, and the emergence of specialty stores and online platforms focusing on niche textile categories. These factors collectively contribute to the flourishing market for textiles globally.
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Key Market Segmentation:
The report has segmented the global textile market based on raw material, product, application and region.
Breakup by Raw Material:
Cotton
Chemical
Wool
Silk
Others
Breakup by Product:
Natural Fibers
Polyesters
Nylon
Others
Breakup by Application:
Household
Technical
Fashion and Clothing
Others
Breakup by Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape With Key Players:
The competitive landscape of the textile market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Aditya Birla Ltd.
Arvind Limited
Asahi Kasei Corporation
BSL Limited
China Petroleum Chemical Corporation
DuPont de Nemours Inc.
Honeywell International Inc.
INVISTA (Koch Industries Inc.)
Paramount Textile Mills (P) Ltd
Solvay and Toray Industries Inc.
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
SWOT Analysis
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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