China Textile Market Size, Share, Industry Report to 2020-2026

China textile is estimated to exhibit moderate CAGR during the forecast period (2020-2026). The China textile market had been booming the past decade, replacing Europe as the world’s largest textile manufacturer and exporter, currently providing one-third of the world with textiles and apparel (UNCTADstat, 2019). The textile sector has been vital to China’s early industrialization process and is expected to remain the same. Low labor costs have certainly played an important role in bringing this evolution. However, some shifts are occurring, and they pose severe challenges for the continued maintenance of the country’s position in the industry.

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China’s low labor cost advantage, which is at the root of the nation’s dominance in the textile sector, is fading as its surrounding lesser developed neighbors become more cost-competitive. Moreover, the Chinese textile industry suffers from declining returns on capital and low-profit figures. However, the Chinese government has been actively launching numerous policies, thrusting the nation’s textile enterprises to create niche-products, capital-intensive textile goods, and international brands.

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In addition, the textile industry has been an important one for the country creating thousands of jobs in the manufacturing sector. By 2023, Beijing wants to create 1 million textile jobs in Xinjiang (Patton, 2016). In 2017, there were already more than 2700 registered textile companies in the area, employing around 350,000 local residents. Whereas the goal of 1 million jobs has not yet been reached, new policy measures have been implemented to encourage the expansion of the sector in the area (Xinhua, 2018). In 2017, the local government launched its 13th Five-Year Development Plan for new industrialization in Xinjiang. Among other industries, the textile industry is highlighted as one of the most important employment-providing and development-steering industries in the region.

Market Coverage

The market number available for – 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- by Material and Application
Country Covered- China
Competitive Landscape- Anta Sports Products Limited, Jihua Group, Lu Thai Textile Co., Ltd., Shandong Ruyi Technology Group Co., Ltd., Shandong Weiqiao Pioneering Group Co., Ltd., and Weiqiao Textile Co., Ltd.

Key questions addressed by the report

What is the market growth rate?
Which segment/region dominates the market in the base year?
Which segment/region will project the fastest growth in the market?
How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected region/segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

China Textile Market Report Segment

By Material

Cotton
Jute
Silk
Synthetic
Wool
Others

By Application

Fashion and Clothing
Industrial/Technical
Household

Company Profiles

Anta Sports Products, Ltd.
Esquel Group
Heilan Group Co., Ltd.
Huafang Wuhe Textile Co., Ltd.
Jihua Group
Lu Thai Textile Co., Ltd.

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