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Textile Market Size, Share & Analysis, 2027 | Global Industry Report

Textile Market Analysis Report By Raw Material, By Product, By Application, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17617845  |  Published: June 2020  |  No of Pages: 215
Format: Electronic (PDF)  |  Industry: Textiles  |  Publisher: Grand View Research

Industry Insights

The global textile market size was worth USD 961.5 billion in 2019. The market is projected to grow at a CAGR of 4.3% over the forecast duration. Rising demand for apparel in emerging countries such as India, Bangladesh, China and Mexico are driving the market growth. Further, urbanization has resulted in a rise in the number of retail and supermarket across the world, which, in turn, driving the sales of the products.

Textile is formed using different processes such as weaving, felting, knitting and crocheting. It is used to produce a variety of goods including kitchen, bedding, medical, apparel, clothing accessories and upholstery. Increasing demand for these products in the across various end-use industries is propelling the textiles market growth.

U.S textile market

In North America, the U.S is projected to occupy the largest market share. Owing to increasing demand from apparel and fashion industry, natural fibers are anticipated to gain traction over the forecast period. Major textile players in the region are focusing on strengthening their business presence and developing products in a niche segment.

 The demand for personal protective equipment (PPE) is increasing owing to the growing safety concern for workers. This demand has further intensified in the medical industry owing to the recent outbreak of COVID-19. Fiber products such as nylon are estimated to gain traction owing to its use in PPE.

Smart textile is the other segment that is expected to supplement market growth over the forecast duration. Such as textiles are widely used in technically advanced sensing devices. Consumers use smart textile for clothing purpose while military personal uses it for safety and protection purpose.

Raw Material Insights

On the basis of raw materials, the textile market is categorized into chemical, silk, cotton and others. Of them, the cotton acquired 39.5% of the market share by volume in 2019. Features such as color retention, high absorbency and strength are driving the growth of cotton products. Countries such as India, U.S and China are among major cotton producers globally.

In the industry of textile, chemical plays a vital role. Oxalic acid, soda ash, acetic acid and sulphuric acid are the key chemical used while manufacturing of textile. This chemical helps in retaining the color of the textile and provide an aesthetic appearance. Growing demand for aesthetically appealing textile materials is estimated to drive the use of chemical products in the textile materials.

In 2019, wool-made textile held 12.6% of the market share by volume. Wool fiber, alternatively known as keratin, contains nitrogen, Sulphur, hydrogen and carbon. Wool is used in abundant amount in producing winter wear products. Its recyclability and moisture management properties are major factors driving their demand.

On the other hand, silk is widely used owing to its features such as elasticity, absorbency and high strength. Silk segment is projected to witness the highest growth with CAGR of 4.7% over the forecast duration.

Product Insights

On the basis of product, the market is divided into polyesters, nylon, fibers and others. Among them, the natural fibers held the largest market share in 2019 primarily because of growing demand from the fashion and apparel industry. Material such as flax, wool, silk, hemp and cotton are natural fibers. These materials are eco-friendly as they can be recycled easily.

Polyester fiber has high strength, wrinkle resistance and quick-drying properties. Owing to these features, polyester is widely used in the textile industry. Various end-use products such as nets, ropes, curtains and carpets are made using polyester.

On the other hand, nylon is one of the most widely used textile. Its properties such as elasticity, low moisture, luster and high resilience make them a suitable choice for home furnishing and apparel.

Other products such as polypropylene (PP), polyamide, polyethene (PE) and aramid. Polypropylene exhibits water-resistant and high strength properties. Likewise, polyamide is durable and it has high strength. These factors make them a suitable material to be used in the industry for textile.

Application Insights

Based on application, the market is categorized into technical, clothing, fashion, household and others. Owing to the growing spending on clothing and apparel, fashion and clothing segment is projected to witness significant growth over the forecast duration. Further, this segment growth is supplemented by the developed fashion industry in North America and Europe.

By volume, fashion and clothing segment occupied more than 70% of the market share in 2019. Clothing accessories, handbags, apparel and ties are major areas where textile is used. Consumer inclination towards printed fabrics and quality dyed are projected to drive the segment growth over the forecast duration.

Global textile market

Textiles are used in various household applications such as kitchen products, towels, upholstery and bedding. Natural fibers like linen and cotton along with synthetic fibers such as acrylic polyamides and polyester are majorly used for household applications. Growing demand for textured and light-absorbing fabrics are anticipated to drive their use in home fabrics.

Technical textiles are widely used in sectors where high performance is required. Such sectors include transportation, protective equipment and construction. Some of the major raw materials used for technical textile manufacturing are nylon, polyester, acrylic fibers and polypropylene.

Regional Insights

In 2019, Asia Pacific accounted for the largest shareholder in the market and the region is projected to grow at a CAGR of 5.6% from 2020 to 2027. Growing demand for apparels coupled with the rapid expansion of e-commerce network in the region is driving the market growth. In addition, high production of cotton and availability of cheap labor encourage manufacturers to set up their production unit in countries such as India, Bangladesh, Pakistan and China.

On the other hand, North America is projected to grow at CAGR of 3.0% by value over the forecast years. This growth is attributed to the rising demand for sports apparel and improved agricultural yield. Both by volume and value, Europe held the second-largest market share in 2019. European Union has set stringent guidelines regarding the production and distribution of fabrics. These guidelines are predicted to stabilize the region grew over the next few years. Further, the growing demand for silk products for fashion and household application is expected to bode well for market growth.

Central & South America is among the largest producer of textiles owing to the easy availability of raw materials and the presence of various textile-manufacturing units in the region. Emerging countries such as Nicaragua, Brazil and Venezuela are projected to witness a rise in demand owing to a free-trade agreement and easy availability of raw materials.

COVID-19 Impact Insights

The textiles industry was at the receiving end owing to the outbreak of COVID-19 and the industry has witnessed a significant decline in both demand and production. The industry is labour-intensive and employs millions of people across the world. Owing to the strict lockdown measures, the industry witnessed a rapid decline. Countries such as India, China and the United States are the major textile producers in the world. India, in particular, is largely dependent on the export of textile as textile accounts for nearly 30% of its all export. Owing to the COVID-19, India witnessed a nearly 90% drop in the production of ready-made garments and yarn in the month of April 2020.

However, with the systematic opening of economies across the globe, the textile industry is witnessing significant growth. Most of the textile firms have started their operation, albeit with a limited workforce, which, in turn, is projected to revive the market growth over the next few years.

Textile Market Share Insights

Key players in the market are Shandong Jining Woolen Textile Co. Ltd, Sinopec Yizheng Chemical Fiber Company, INVISTA, Honeywell International and Asahi Kasei Fibers Corp. These players have collaborated with e-commerce portals to expand their product reach.

Owing to the presence of several key players, the market is highly fragmented in nature. Both local and international players are present in the market. Asia Pacific provides a lucrative opportunity for market participants to set up their units in the region owing to the easy availability of raw materials and cheap labor cost.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Volume in kilotons, Revenue in USD billion, and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Russia, Germany, France, Turkey, Italy, U.K., China, India, Japan, Australia, Brazil, Saudi Arabia, and Iran

Report coverage

Revenue & volume forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global textile market report on the basis of raw material, product, application, and region:

• Raw Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)
    • Cotton
    • Chemical
    • Wool
    • Silk
    • Others

• Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)
    • Natural Fibers
    • Polyesters
    • Nylon
    • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)
    • Household
        • Bedding
        • Kitchen
        • Upholstery
        • Towel
        • Others
    • Technical
        • Construction
        • Transportation
        • Medical
        • Protective
        • Others
    • Fashion & Clothing
        • Apparel
        • Ties & Clothing Accessories
        • Handbags
        • Others
    • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • France
        • Italy
        • U.K.
        • Turkey
        • Russia
    • Asia Pacific
        • China
        • India
        • Japan
        • Australia
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Saudi Arabia
        • Iran

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