Textile Staples Market will Reach US$ 201,197.5 Mn towards the end of 2027
The FMI’s report titled “Textile Staples Market Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027” has identified multiple factors influencing the global textile staple market throughout the ten years of the forecast period. In developed regions such as North America and Europe, manufacturers of textiles are shifting their focus from commodity goods to value added products. Therefore, manufacturing of generic textile products as compared to niche technical textile products is expected to slow down in the near future. In addition, the global market is anticipated to be majorly driven by growing application of technical textiles in large sectors such as construction and automotive. In emerging countries, rising disposable income is significantly boosting the market growth.
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The report has also assessed that both production and consumption of synthetic fibre will soar in near future. Further, the demand for special textile materials and products which are manufactured primarily for specific applications have gained considerable traction in recent years. Application of such textile is increasing exponentially in automobile industry owing to their superior quality and technical capabilities.
Among region, the Asia Pacific excluding Japan (APEJ) is expected to emerge as the largest market for textile staple over the forecast period. Growth in sectors such as automotive & transportation coupled with increasing spending power is primarily favouring the market’s growth in the region. Meanwhile, North America will retain is second spot and account for a sizeable share of the market over 2027.
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Key players in the market are laying emphases on R&D activities to enhance wear-ability of E-textiles, fabrics that enable digital constituents and electronics to be embedded in them.
E.I. Du Pont de Nemours and Company, Lenzing AG, International Fibers Group, Invista, Thai Acrylic Fiber Co. Ltd. (Aditya Birla Group), Toray Group, Chori Co., Ltd., W. Barnet GmbH & Co. KG, Cellulose Cotton Wool Corporation of India, Teijin Frontier Co., Ltd., Belgian Fibers SA, Grasim Industries Limited, Indorama Ventures Public Company Limited, Reliance Industries Limited, Synthesia, AS, The Woolmark Company are some of leading companies operating in the global textile staples market.
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