Textile Fabric Market will grow from USD 498 billion in 2021 to USD 842.9 billion by 2029 : GreyViews

Gerard Ortiz

GreyViews

Textile Fabric Market Size By Type (Polyester, Cotton, Polycottons and Others), By Application (Technical, Household and Fashion & Clothing), Regions, Segmentation, and forecast till 2029.

Pune India, Dec. 21, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Textile fabric market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the textile fabric market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global textile fabric market are Loyal Textiles, Arvind Limited, YI CHUN TEXTILE LTD, Cotton Corporation of India, Lu Thai Textile Co., Limited, Nike Inc., Levi Strauss & Co., Fabindia, REDA GROUP, Addias AG, Bombay Rayon, Paramount textiles, Conville, Reliance Industries Limited, Bruno Banani among others. To achieve a substantial market share in the worldwide textile fabric market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Fibres are used in the textile industry to weave broad and narrow fabrics, as well as to finish and create goods. Wool or yarn processing, fabric weaving, or other processes are used to create textile fabrics. By processing textile fibre using various procedures, such as knitting, crocheting, weaving, and others, bedding, clothing, apparel, medical, and other products are produced. In addition, as low-cost, lightweight, multifunctional materials gain popularity in athletics during the next few years, market participants will discover attractive prospects. Through efforts to improve the product, research and development will help the market grow even more. Aesthetic qualities like comfort, softness, colour, and texture help the sportswear market to improve the quality of their product, which in turn drives the growth of the textile fibre market. It is also crucial for the clothing to meet the unique requirements of each sport and activity, including elasticity, water resistance, vapour permeability, and heat resistance. The demand for clothing will rise in the next years due to social media, e-commerce, influencer marketing, urbanisation, and increased disposable income, which will all contribute to the growth of the textile fabric industry.

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Scope of Textile fabric market Report

Report Metric

Information

Study Period

2021-2029

Base Year          

2021

Forecast Period

2022-2029

Market Share Unit

498 USD Billion

Segments Covered

Type, Application and Regions

Regions Covered

North America, Europe, Asia-Pacific, South America, and Middle-East and Africa

Major Players

Loyal Textiles, Arvind Limited, YI CHUN TEXTILE LTD, Cotton Corporation of India, Lu Thai Textile Co., Limited, Nike Inc., Levi Strauss & Co., Fabindia, REDA GROUP, Addias AG, Bombay Rayon, Paramount textiles, Conville, Reliance Industries Limited, Bruno Banani among others.

Segmentation Analysis

The Cotton segment is expected to be the fastest-growing segment in 2021. 

The type segment includes polyester, cotton, polycottons and others. The cotton segment is expected to witness the highest growth rate during the forecast period. Cotton is the most widely used natural fibre in the world and has excellent qualities like strength, absorbency, and colour retention. Cotton clothing is more desirable to consumers since it is simple to machine wash in hot water and can survive several items of washing, which ultimately spurs the expansion of the textile fabric industry.

The fashion & clothing segment is expected to be the fastest-growing segment in 2021. 

The application segment includes technical, household and fashion & clothing. The fashion & clothing segment is expected to witness the highest growth rate during the forecast period. All age groups around the world are becoming more and more interested in fashionable clothing, which is fueling the market’s expansion. The market for textile fabrics is expanding as a result of customers’ rising need for various clothing kinds depending on the occasion, as well as various patterns, colours, and designs in apparel wear.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the textile fibres include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

  • The Asia Pacific region witnessed a major share. The market for silk is expanding as a result of the expanding economies in Asia-Pacific, quick technological advancements in sericulture, and the growing usage of silk in textiles. The Asia-Pacific clothing and non-apparel manufacturing market has had tremendous expansion over the previous five years, and this trend will continue during the forecast period. The rise of this business has persisted as disposable incomes have expanded and fast fashion has taken hold.

Country Analysis

Germany’s textile fabric market size was valued at USD 48.72 billion in 2021 and is expected to reach USD 83.08 billion by 2029, at a CAGR of 6.9% from 2022 to 2029. Germany produces high-quality clothing thanks to significant technological innovation in the industry. As living standards rise and fashion trends change, domestic and international demand for these high-quality textiles has increased, which fuels the expansion of the global textile fabric market.

China’s textile fabric market size was valued at USD 53.9 billion in 2021 and is expected to reach USD 93.3 billion by 2029, at a CAGR of 7.1% from 2022 to 2029. Both in terms of production and exports, China has the largest textile sector in the world. Additionally, the productivity of cotton in China is nearly three times greater than that of cotton in India.

India’s textile fabric market size was valued at USD 40.35 billion in 2021 and is expected to reach USD 69.32 billion by 2029, at a CAGR of 7% from 2022 to 2029. The rise of e-commerce portals, which give small-scale producers who were confined to a specific geographic area more exposure, has increased the demand for traditional clothing.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the increasing demand for comfortable and stylish clothing among consumers.

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GreyViews
Pune India
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