Textile Fabrics Market Unlocking Growth Exploring Future Market Size for New Opportunities

Allied Market Research has recently released a comprehensive report titled "Textile Fabrics Market by Fabric Type (Cotton, Polyester, Polyamide, Others) and Application (Fashion & Clothing, Household, Technical): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global textile fabrics industry generated $498.0 billion in 2021 and is expected to reach $942.8 billion by 2031, with a CAGR of 6.7% from 2022 to 2031.

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Key Growth Drivers:

The growth of the fashion and apparel industry, increased investments, expansion of the oil and gas sector, and advancements in the chemical industry are key factors driving the growth of the global textile fabrics market. However, fluctuations in raw material prices pose a challenge to market growth. Nonetheless, growing competition in professional sports and consumers' increasing shift towards active sports present new opportunities in the coming years.

Impact of COVID-19:

The COVID-19 pandemic negatively impacted the global textile fabrics market due to transportation restrictions, leading to low procurement of raw materials, reduced industrial production of apparel, and disrupted supply chains. However, there was increased demand for medical apparel such as gowns and masks, which benefited the market. The demand for textile fabrics from the sports industry decreased significantly due to the cancellation of sports events.

Market Segmentation:

Polyester Segment: The polyester segment held the highest market share in 2021 and is projected to maintain its leadership status throughout the forecast period. It is expected to witness the highest CAGR of 6.9% from 2022 to 2031, driven by the increasing demand for polyester in the textile industry due to its durability, strength, and other properties.

Fashion & Clothing Segment: The fashion & clothing segment dominated the market in 2021 and is anticipated to maintain its lead position during the forecast period. It is expected to register the largest CAGR of 6.9% from 2022 to 2031, fueled by the rising demand for apparel from the fashion industry and the growth of e-commerce.

Regional Analysis:

Asia-Pacific: Asia-Pacific held the highest market share in terms of revenue in 2021 and is expected to maintain its dominance by 2031. It is projected to witness the fastest CAGR of 7.0% from 2022 to 2031, driven by increased consumer spending on apparel accessories in the region.

Key Market Players:

The report provides detailed analysis of key players in the global textile fabrics market, including DuPont de Nemours, Inc., Wolfin Textile Ltd., Coville Inc., China Textile Co. Ltd., Klopman International, Loyal Textile Mills Ltd., Premier Textiles, Weiqiao Textile Co. Ltd., Whaley Bradford Ltd, and Yi Chun Textile Ltd. These players have adopted various strategies such as new product launches, collaborations, expansions, and agreements to enhance their market share and maintain dominance in different regions.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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