The global Textiles Market is anticipated to grow at a significant CAGR during the forecast period. The development of textile industry at the global level is noticeable as internal processes in the manufacturing sector are now shifted to developing countries. With this reinforcement, international trade for textiles is gaining much traction and rise in regional exports and import of textile products.
The textile industry has shown a dynamic growth since the last decade in terms of international produce for clothing products. Asian countries are leading in the textile market as the exports are relatively high as compared with other countries.
The factors responsible for the market growth include increasing consumption of apparels and surge in fashion market; thanks to innovation. Increase in demand for textiles across the globe is likely to propel the market growth in the near future. Wool production in developed and developing countries is a major factor responsible for market growth across the globe. In addition, the market receives an overwhelming response due to technological innovations in smart textile.
Geographical segmentation for textiles market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions account for a maximum share in the global market. Government initiatives, marketing, promotions, and significant investments in the manufacturing sector are likely to propel the market growth during the forecast period.
North American and European markets are likely to gain a significant market share in the forecast period owing to increase in revenue generation and rise in CAGR. Efficient packaging and transportation are likely to stimulate the market growth during the forecast period. The key players in the textiles industry include Asahi Kasei Fibers Corporation, Shandong JiningRuyiWoolen Textile Co Ltd, INVISTA, Honeywell International and Sinopec Yizheng Chemical Fiber Company.
Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2014 - 2025)
Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2014 - 2025)
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2014 - 2025)
• Fashion & Clothing
• Ties & Clothing Accessories
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Saudi Arabia
Research Support Specialist, USA