According to a recent published report by marketresearch.com, the global textile market size is anticipated to reach USD 1.5 billion by 2030 with a compound annual growth rate (CAGR) of 4.0 percent. Increasing demand for apparel from the fashion industry plus the growth of e-commerce platforms is driving market growth, making it a good time for garment manufacturing to double down on their investments in machinery.
The garment industry works on three major principles: designing, production, and distribution of different flexible materials, such as yarn and clothing. Several processes, such as knitting, crocheting, weaving, and others, are largely used to manufacture a wide range of finished and semi-finished goods in bedding, clothing, apparel, medical, and other accessories.
Then, where is the most important market? What is the revenue driver? And what is the most popular material?
Textile industry's major markets and revenue sources
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Asia Pacific continues to dominate
Apparel and apparel product sales are increasing, providing Asia Pacific the lion's share of the world market in 2021, accounting for more than 48% of global income. Markets in India, Bangladesh, and Pakistan are likely to expand further, owing to the rise of retail outlets and giant shopping malls, a young population, increased disposable incomes, and favorable government policies.
Expansion of retail shops and mega malls, younger demographics, increasing disposable income levels, and favorable government policies are also expected to drive the market in APAC, especially in countries, such as India, Bangladesh, and Pakistan. For example, in India, 100 percent Foreign Direct Investments (FDI) is allowed in textiles, contributing to positive market growth.
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EU governments favor increased growth
The market in Europe is expected to grow at a significant CAGR over the forecast period. This can be attributed to the favorable government policies and trade agreements, such as free-trade agreements and Euro-Mediterranean Dialogue on the textile and clothing industry.
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The rise of the textile industry in South America
The demand for textiles in North America and Central and South America is likely to witness promising growth over the projected period owing to the rising demand from sports and apparel and home-furnishing textile products.
Applications in the textile industry
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Clothing
In 2021, fashion applications will lead the market, accounting for more than 73% of worldwide sales. Demand for seamless knit and seamless seam-free suits and shirts for functional ready-to-wear, as well as high-quality colored and printed materials, is increasing globally. The rising global demand for formal and casual clothes, as well as other appealing items for all age groups, is the market's primary growth driver. Expanding populations and fast urbanization in emerging economies such as India, Bangladesh, Vietnam, and Brazil, in particular, are growing demand for fashion and clothing, adding to the segment's rise.
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Technical textiles
Bedding (sheets, bedding, mattresses, beds, etc.), upholstery, carpets, kitchen cloths, towels, and other technical textiles are also growing at a considerable compound annual growth rate. Construction, transportation, medicinal, and protective gear uses are also becoming more popular.
The most widely used materials
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Natural fibers will expand further
Natural fibers will account for roughly 44.5% of market revenue in 2021, owing to their widespread use in different fashion and clothing applications. As customers become increasingly concerned about the environment, the demand for sustainable products will drive the natural fibers market even higher.
Between 2022 and 2030, the market will rise at a consistent compound annual growth rate, as rising environmental concerns and customer preferences for sustainable products drive demand for natural fibers. The nylon market is expected to have the fastest compound annual growth rate in terms of revenue, and it is frequently used in garments and home furnishings applications due to its high durability, flexibility, and moisture absorption. Furthermore, nylon can be used to replace a range of silk-based items, such as women's (long) stockings, parachutes, and bulletproof undershirts.
Strong demand for natural fibers such as linen and cotton, as well as synthetic fibers, is another driver driving growth in the home textiles industry.
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Man-made fibers: the market is expanding.
Man-made fibers, particularly polyester, are gaining traction in the textile industry. Because of its excellent strength, chemical and wrinkle resistance, and quick-drying fabric qualities, polyester fibers are widely utilized in domestic and industrial textiles.
Polyester is used in pillows as a cushioning and insulating material, and in carpets, air filters, coated fabrics, and other products. Other product groups include polyethylene (PE), polypropylene (PP), aramids, and polyamide. Polyethylene's market demand has increased as a result of its great resistance to acids and alkalis at high temperatures and low moisture retention. Furthermore, the usage of polypropylene has contributed to positive growth in other segments.
Market leaders
Several significant companies in the global market, such as Zara, H&M, and Uniqlo, have become textile industry leaders due to their excellent product portfolios and enormous client bases.
Cotton led the market and accounted for more than 39 percent share of the global textile revenue in 2021
Cotton being the world’s most important natural fiber is attributed due to its superior properties such as high strength, absorption, and color retention. China, India, and the U.S. are the major producers of cotton and cotton-based products in the world. Chemical-based textiles are estimated to account for 97,075.9 kilotons in 2021, as they play an important role in the entire textile manufacturing industry.
Though chemicals are hazardous to human health and the environment, they are extensively used as mercerizing agents, neutralizers, leveling agents, binders, thickeners, and stain-removers in the textile industry. Wool-based textile accounted for 13.3percent of the market in terms of revenue in 2021. Wool, primarily composed of hydrogen, carbon, sulfur, and nitrogen, is extensively used to manufacture insulation products such as winter wear, blankets, carpeting, upholstery, and others. In addition, the products made from the same are used to absorb odor and noise in heavy machinery, thereby contributing growth to the technical application segment.
Other raw materials used in the production of textiles are silk, minerals such as glass fibers and asbestos, and other synthetic material. Silk finds extensive use in the manufacturing of clothing, surgical suture, parachutes, silk comforter, and various others having high strength and elasticity is expected to drive the segment growth over the forecast period.
Our values and services
The garment sector is predicted to increase dramatically over the next decade as a result of favorable demographics, government efforts, and the spread of e-commerce platforms. Now is the time for entrepreneurs and investors to enter the apparel production, distribution, or retail industries. If you need comprehensive garment manufacturing machines equipment and services, our firm is the best option. We supply efficient, high-quality apparel production equipment to help companies enhance output while lowering expenses. Furthermore, our customer care team is always accessible to provide technical support and professional guidance to ensure the efficient operation of your production line.
The above is our comprehensive study of the global textile market, which we believe will serve as a solid foundation for your decision-making. Please contact us if you have any concerns or require additional information.
ReferencesTextile Market Size, Share and Trends Analysis Report By Raw Material (Cotton, Wool, Silk, Chemical), By Product (Natural Fibers, Nylon), By Application (Technical, Fashion), By Region, And Segment Forecasts, 2022 - 2030
