San Francisco, 5 November
2018: According to a report by Grand View Research, Inc.; the
global textilemarket is predicted to value USD 193.16 billion by 2022. Textile
is a flexible material formed using several processes including knitting,
weaving, crocheting, or felting. It is used to manufacture a wide range of
conventional and advanced finished goods used in kitchen, clothing, apparel,
fashion, construction, bedding, transportation, and medical. High demand from
these industries is the primary driver for the global market.
Growing population,
urbanization, and disposable income in emerging economies such as India, China,
and Mexico are expected to improve consumer lifestyle. This, in turn, can
augment market growth during the forecast period (2014 to 2025). Growing
awareness regarding protective equipment in manufacturing owing to stringent regulations
aimed at worker safety can positively influence growth of market.
Increasing number of fashion
retail outlets in emerging economies such as India and China attributed to
support from local governments to promote investments can spur market expansion
over the forecast period. Continual technological advancements in upholstery
products derived from coated fabrics can also stimulate market growth in near
future.
Access
Research Report of Textile Market@ www.grandviewresearch.com/industry-analysis/textile-market
The global textile market can
be segregated on the basis of raw material, product, application, and region.
Based on raw material, the market can be categorized into chemical, cotton,
wool, silk, and others. In 2015, cotton was most used raw material for
production of textiles and accounted for around 39.5% market share in the same
year. Properties such as high strength, excellent absorbency, and color
retention can positively influence demand in the forthcoming years.
On the other hand, silk is
expected to witness a CAGR of 4.6% from 2016 to 2025. Growing use of spider
silk in formulation of industrial textile attributed to excellent toughness and
lightweight as compared to steel is the predominant driver for this segment.
Based on product, the market
for textiles can be classified into polyesters, nylon, natural-fibers, and
others. In 2015, natural fibers segment accounted for 45.6% of overall market
share in terms of volume. It is likely to grow well over the forecast period.
High market visibility of cotton derived products in garments and apparels
sector can fuel demand in near future.
On the contrary, nylon segment
is estimated to register a CAGR of 4.5% from 2016 to 2025. Properties of nylon
such as high resilience, low moisture absorbency, and excellent elasticity are
anticipated to bode well for product demand over the forecast period.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Based on application, the
market is divided into technical, household, fashion and clothing, and others.
In 2015, fashion and clothing segment dominated the market and accounted for a
revenue share equivalent to USD 607.6 billion. It is expected to expand at a
substantial CAGR during the forecast period.
New product launches by
garment manufacturers including Tommy Hilfiger and Levis in Canada and United
States can impel market expansion. In addition, rising sales volume of footwear
and apparels through e-commerce portals like Amazon is expected to spur market
development in near future.
Household application
accounted for 9.6% of overall market share in terms of volume. Properties such
as stain-repellent texture, wear and tear resistance, and ability to give soft
and comfortable finishing to fabric surfaces is anticipated to impel product
demand.
Regional segmentation includes
Asia Pacific, Europe, North America, Central and South America, and Middle East
and Africa. In 2015, Asia Pacific consumed 99,005.9 kilo tons of textiles and
is predicted to witness significant growth over the forecast period. Positive
outlook towards garments and apparel industry in India and China can fuel
regional expansion in near future. In addition, favorable government policies
to promote investments in manufacturing sector can further boost market growth.
Similarly, North America is
likely to register a CAGR of 2.7% from 2016 to 2025 attributed to rising
production of automotive vehicles in United States. Rising number of single
family houses is expected to further augment regional market growth over the
forecast period.
Middle East and Africa is
predicted to expand at CAGR of 3.6% in the forthcoming years. Growing
investments by Islamic clothing manufacturers to produce new hijab styles in
apparels can propel regional demand for textiles during the forecast period.
Some of the leading companies
operating in textiles market are Asahi Kasei Fibers Corporation, INVISTA,
Shandong Jining Ruyi Woolen Textile Co., Ltd., Honeywell International, and
Sinopec Yizheng Chemical Fiber Company.
Access
Press Release of Textile Market@ www.grandviewresearch.com/press-release/global-textile-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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