The textile market will be stimulated by a growing demand for natural products
Expert Market Research’s new report titled ‘Global Textile Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global textile market, assessing the market based on its segments such as material, product type, application and major Regions.
The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
Expected CAGR (2022-2027): 4.5%
Natural fibers account for a considerable share of the market by product type and are expected to increase significantly over the projected period. This is because natural fiber clothing is skin-friendly, comfortable and environmentally friendly. The increased awareness of the skin-friendly features of the product is expected to drive the market growth over the forecast period.
Also, changing customer taste for expensive and high quality clothes is expected to help the market. Meanwhile, due to the durability and lightness of the product, the polyester category is expected to gain popularity throughout the projected period.
Due to the booming fashion and apparel industries in countries like India, China, and Vietnam, among others, the textile industry in the Asia-Pacific region is expected to witness significant growth. Increase in trade agreements among various countries to promote the textile sector is expected to help the market in the region during the forecast period. In India, for example, 100% foreign direct investment (FDI) is allowed in the textile industry.
Additionally, the industry is expected to benefit from the growing demand for medical textiles, especially in the aftermath of the COVID-19 outbreak.
Industry definition and major segments
A textile is a form of cloth or woven fabric created by spinning raw fibers into long twisted lengths. It can also refer to any material composed of intertwined fibers, such as carpets, shirts and other textiles.
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Based on Hardware, the market is split into:
On the basis of product type, the industry is segmented into:
The market is categorized based on application into:
Fashion and Clothing
Ties and clothing accessories
Regional markets for the product include:
The Middle East and Africa
The growing use of textiles in many industries is propelling the global textile industry forward. The wide application of textiles in major end-use industries such as healthcare, defense, automotive, and others is fueling the growth of the market.
The boom in the fashion and apparel industry in emerging countries is expected to boost demand for textiles, thanks to rising disposable income and population growth.
Additionally, the market is expected to benefit from the growing demand for technical textiles owing to the expansion of the industrial sector, technological developments and increased innovation by major players in the industry. During the forecast period, this is expected to help the market grow.
Main market players
The major market players are BSL Limited, Lu Thai Textile Co., Ltd., Paramount Textile Limited, Paulo de Oliveira, SA, Successori Reda SpA, Shandong Jining Ruyi Woolen Textile Co., Ltd. and Sinopec Yizheng Chemical Fiber LLC. . The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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