Global Textiles Staple Market to Grow at 4.9% CAGR through 2027

As per the latest report “Textile Staples Market: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 – 2027” added to the repository of Market Research Reports Search Engine (MRRSE) recently, the value for textile staples market is expected to grow over US$ 200 Bn approximately by 2027; the market is currently valued at US$ 125 Bn. As per the report, global revenues are projected to grow at nearly 5% CAGR, with total incremental opportunity of around US$ 82 Bn between the period 2017 and 2027. The report discusses the key factors driving the growth of the global textile staples market.

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The report offers insights on the growing use of textile staples in the automotive and transportation sector. Textile components are largely used in transportation vehicles including marine vehicles, airplanes, buses, trains and cars. This transportation vehicles sector is seeing rapid expansion in countries like China that has shown steady sales growth in a fluctuating economic environment. Most economic indicators predict that India’s economy will grow rapidly in future with a positive outlook towards automotive sector. The Indian economy will reflect growth with an increasing consumer demand leaving a positive effect on the textile staples market during the forecast period.

According to the report, China and India have for long remained producers of textile staples, but owing to rising demand, they have become consumers of textile staples. A rapid increase is observed in consumption of household cotton in developing countries.

As per report, a cyclical pattern is observed in the global textile staples market. The cyclic pattern includes natural and synthetic fiber with intermittent overloading that leads to pressure on pricing. It is anticipated that this cyclical pattern may hinder the growth of the textile staples market globally during the forecast period 2017 and 2027.

Highlighting the segmentation in the market, the report projects that cotton accounts for the highest revenue share on the basis of natural fibre textile staples. On the other hand, polyester textile staples account for sizeable revenue share on the basis of synthetic fibre. Apparel manufacturing remains the dominant application segment in the global market, and the trend will prevail during the forecast period.  

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According to the report, APEJ is a lucrative market for textile staples globally. However, demand for textile staples from the automotive and construction sector is also expected to grow during the forecast period.

Leading players profiled in the market include E.I. Du Pont de Nemours and Company, International Fibers Group, Lenzing AG, Belgian Fibers SA, Teijin Frontier Co., Ltd Grasim Industries Limited, Cotton Wool Corporation of India, Toray Group, W. Barnet GmbH & Co. KG, Reliance Industries Limited, Thai Acrylic Fiber Co. Ltd. (Aditya Birla Group), Invista, Chori Co., Ltd., Cellulose., Indorama Ventures Public Company Limited, Synthesia, AS, The Woolmark Company are some of leading companies operating in the global textile staples market.

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This release was published on openPR.