Textile Market Forecast 2022-2033 - Market Size, Drivers, Trends, And Competitors

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Textile Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The textile market size has grown strongly in recent years. It will grow from $638.03 billion in 2023 to $689.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growth in world population, increased demand for man-made fibers, government initiatives for the textile industry, strong economic growth in emerging markets and a ban on plastic usage.

The textile market size is expected to see strong growth in the next few years. It will grow to $903.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to global population growth and urbanization, a rapid growth in ecommerce, rising spend on leisure, increasing retail penetration, increasing internet penetration and smartphone usage and growing preference for contactless delivery solutions. Major trends in the forecast period include focus on adopting digital textile printing inks, focus on use of non-woven fabrics, focus on using organic fibers, focus on sustainable fibers, focus on using blockchain in the manufacturing processes, focus on implementing digital platforms in textile supply chain management, focus on collaborating with technology companies to design and develop smart fabrics, focus on adopting robotics and automation, focus on investing in artificial intelligence and focus on partnerships and collaborations to develop innovative products.

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Key Market Players:

Major companies operating in the textile market report are Toray Industries Inc., Sinopec Group, Mohawk Industries, Inc., TJX Companies, Far Eastern New Century, Tex Tech Industries, Ashley Furniture Industries, Inc., Beaulieu International Group, Santana Textiles LLC, Yarnz, Australian Textile Mills (ATM), Bruck Textiles, Spunchem Interntaional, Old Navy, Mattex Yarns, Daedong Company Limited, Magellan (Old Aladdin) Co. Ltd, Yarns Dubai, Arvind Ltd, Bombay Rayon Fashions Limited, Berry Global, Silkoplus German Embroidery Threads, Luthai Textile, Huafu, Siltex Brasil Ltda, Jiangsu Sunshine Co Ltd, Huafang Group Co Ltd, Shangtex Holding Co. Ltd., Shijiazhuang Changshan Textile Co Ltd, Margo, Lenzing, Coats, Laxtons, Ugurteks, Ardalanish Mill, , European Spinning Group, AMANN Group, Simba Textile Mills Pty. Ltd., Shandong Jining Ruyi Woolen Textile Co Ltd, Elena Furs, Fabreex, United Textiles, Michael Kors, Domarex SC, Tarkett S.A, Coats Bell Div. of Coats Canada Inc., Santista Argentina SA, Unifi, Inc., Albany International Corp., Vardhman Textiles, InPro Corporation, Dunmore Corp., Fabrico, The Yarn Room, Bally Ribbon Mills, Paramount Texteis, Converse, Brooks Brothers, Hollister, Aeropostale, American Eagle Outfitters, Abercrombie & Fitch, Saint Gobain Tape Solutions, Pettenati Industria Textil SA, GAP, Levi Strauss & Co., National Spinning Co, Evora SA, Hyosung TNC, Fabricato SA, Reliance Industries Limited, Sarwani International Corporation, Saudi Spinning & Textile Mill, Ralph Lauren, Fiacao Sao Bento S.A., Slywia Samulak, Town End Alpacas, Como Luxury fabrics, SELA, Gale Pacific Fze, Textil Sao Joao, Namsung Match Co. Ltd, Weiqiao Textile Company Limited, Aratex Group, Shandong Demian Incorporated Company, Terico Golzar, Fibertex South Africa, Elasticos Yarns, Trelleborg Engineered Coated Fabrics, Leena Egypt, AlSaraTex Co., Integrated Fibres Limited

Market Drivers:

The increasing demand for online shopping is expected to drive the textile manufacturing market. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, driving the growth of the textile manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of traditional garments by giving larger exposure to producers who were confined to one geography.

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The textile market covered in this report is segmented -

1) By Type: Fabrics, Yarn, Fiber And Thread, Home Furnishings And Floor Coverings, Textile And Fabric Finishing And Fabric Coating Mills, Other Textile Product Mills
2) By Material: Cotton, Jute, Silk, Synthetics, Wool
3) By Process: Woven, Non-Woven

Sub segment: Broadwoven Fabrics, Narrow Fabric Mills And Schiffli Machine Embroidery, Non-Woven Fabrics, Knitted Fabrics, Home Furnishings, Floor Furnishings,Textile And Fabric Finishing Mills, Fabric Coating Mills

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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