Advancements in wireless technology are driving changes in the textile market
The Business Research Company Global Textile Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UK, April 8, 2022 /EINPresswire.com/ — Advances in wireless technologies and growing demand for connectivity are shaping the outlook for the textile market. 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. Materials used in smart textiles include fiber optics, metals, and conductive polymers. They are widely used in fashion, entertainment, medicine, transportation, sports and fitness, and the military. For example, the Cityzen Science t-shirt has a wide range of functions such as heart rate monitor, built-in GPS, accelerometer, altimeter.
The global textile market size is expected to grow from $530.97 billion in 2021 to $575.06 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The textile market is expected to reach $760.21 billion in 2026 at a CAGR of 7.2%.
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Growing demand for online shopping is expected to drive the global textile market. Manufacturers can now sell their products on a wider platform than before, which will geographically increase their customer base, driving the growth of the textile manufacturing market. In countries like India, for example, e-commerce portals boosted sales of traditional clothing by giving greater exposure to producers who were confined to a single geographic area.
Key Players Covered in Global Textile Industry are Toray Industries Inc., Daiwabo Holdings Co Ltd, Mohawk Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Far Eastern New Century, Tarkett SA, Beaulieu International Group, Masco Corporation and Grasim Industries Limited.
Asia Pacific was the largest textile market region in 2021. Western Europe was the second largest textile market region. Regions covered in the Textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
TBRC’s Global Textile Industry Growth Analysis Report is segmented by Type into Fabrics, Yarns, Fibers & Yarns, Furniture & Flooring, Textile & Fabric Finishing Mills, and Fabric Coating Mills, other textile product mills, by material into cotton, jute, silk, synthetics, wool, by processing into woven, non-woven.
Global Textile Market Report 2022 – By Type (Other Textile Products Mills, Fabrics, Yarns, Fibers & Yarns, Furniture & Flooring, Textile & Fabric Finishing Mills, and Fabric Coating Mills), By Material (Cotton, Jute, Silk, Synthetics, Wool), By Process (Woven, Nonwoven) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provides a Textiles Market overview, forecasts Textiles market size and growth for overall market, Textiles market segments, geographies, Textiles market trends, Textiles market drivers, restraints , revenue, profiles and market shares of key competitors.
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