Textile Market Size & Share, Industry Research Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Textile Market


The global Textile market size is projected to reach US$ 1289.91 billion by 2026, from US$ 1005.43 billion in 2020, at a CAGR of 4.24% during 2021-2026. This growth is attributed to the high demand for apparels, particularly in the developing economies including India, China, Bangladesh, and Mexico, as a result of growing population. Moreover, rising disposable income levels and rapid urbanization in these countries have led to the increased number of retail outlets and supermarkets; thereby, supporting overall market growth.

Textile is a flexible material formed using different processes, such as knitting, weaving, felting, or crocheting. These materials are used in the manufacturing of a wide range of conventional, as well as advanced finished goods, in kitchen, upholstery, bedding, transportation, construction, protective, handbags, medical, apparel, ties & clothing accessories.

There has been rising awareness in the manufacturing sector with regards to the Personal Protective Equipment (PPE) owing to stringent regulations aimed at the safety of the workers on shop floors, which is anticipated to encourage the usage of engineered fiber products including nylon. Overcapacity of warehouses in India has led to reduction in cotton prices, which is anticipated to remain an advantageous factor for the local textile manufacturers.
Moreover, rising popularity of wool produced using non-mulesed methods in developed countries is expected to increase the access to raw materials. Emergence of smart textile products in the electronics manufacturing sector, as a result of their ability to sense and react to the environmental conditions or stimuli, is also expected to remain a key influencing factor for the textile market growth.

Market Segmentation, Outlook & Viewpoint: Global Textile Market

Raw Material Market Segmentation & Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)

  
Cotton
  
Chemical
  
Wool
  
Silk
  
Others

Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)

  
Natural Fibers
  
Polyesters
  
Nylon
  
Others

ApplicationOutlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)

Household

  
Bedding
  
Kitchen
  
Upholstery
  
Towel
  
Others

Technical

  
Construction
  
Transportation
  
Protective
  
Medical
  
Others

Fashion & Clothing

  
Apparel
  
Ties & Clothing Accessories
  
Handbags
  
Others

Others

Key Players, Recent Developments & Regional Insights: Global Textile Market

Natural fibers accounted for the highest revenue share in 2018. Natural fibers include biodegradable and renewable materials like linen, cotton, flax, hemp, silk, and wool. Surging demand from the fashion and apparels industry is anticipated to be the major driving factor for the natural fibers segment. Polyester is projected to expand at a CAGR of 4.01%, in terms of revenue, from 2019 to 2025. Such fibers are characterized by high strength, quick drying properties, and high chemical & wrinkle resistance. Owing to these advantages, polyester is one of the most commonly used products in the market. Nylon is expected to exhibit the highest CAGR during the forecast years due to product properties, such as excellent elasticity, high resilience, and low moisture absorbency.

Application Insights

Fashion & clothing led the global market due to constant product innovations in this segment. Moreover, the emergence of online shopping portals with attractive offers is expected to boost the demand of apparels, thereby supporting the market growth. Technical application was the second-largest segment. It is expected to have a steady growth over the forecast period owing to demand for high-performance textiles from various sectors including construction, transportation, and medical.

The household segment accounted for 9.36% of the total volume in 2018. Textiles help maintain the room temperature by reducing the amount of exposure to direct sunlight and heat, which is why they are widely used in the household applications including bedding, kitchen, upholstery, etc.

Regional Insights

Asia Pacific emerged as the largest regional market in 2018 and is projected to expand further owing to the positive outlook towards apparel & garments market in China and India. Growing sales volume of apparel and clothing goods through e-commerce portals in India, China, Bangladesh, and Thailand is also estimated to spur the market growth. Furthermore, supportive government regulations in China and India aimed at promoting investments in their respective manufacturing sectors is expected to foster the market growth.

North America is estimated to expand at a CAGR of 2.90% from 2019 to 2025. Initiatives by various companies to develop superior sports apparel is one of the key factors propelling the regional market. In addition, government support for enhancing the agricultural yield is expected to drive the market further.

Textile Market Share Insights

The global market is highly fragmented owing to the significant market penetration of local manufacturers in India and China. High demand for apparels and availability of low-cost labor in these countries are anticipated to be some of the advantageous factors for the industry participants to establish their Strategic Business Units (SBUs) in Asia Pacific. Prominent companies in this market are Lu Thai Textile Co., Ltd., Successori Reda S.p.A., Paramount Textile Limited, Paulo de Oliveira, S.A., Shandong Jining Ruyi Woolen Textile Co., Ltd., Nike, Inc., Adidas, Aditya Birla Ltd., Levi Strauss & Co., and Belmonte SpA.

Key Insights Covered: Global Textile Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Textile industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Textile industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Textile industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Textile industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Textile industry.

Research Methodology: Global Textile Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other