Global textile market size is forecast to grow by USD 526.1
billion during 2019-2023 at a CAGR of over 6%, with natural fibers segment
having the largest share. Textile market growth will be mainly driven by the
increasing demand for natural fibers. A key factor driving the growth of the
market is the increasing demand for natural fibers. Natural fibers obtained
from plants and animals include cotton, silk, linen, wool, hemp, jute, and
cashmere. These fibers are widely used to manufacture garments, apparel,
construction materials, medical dressings, and interiors of automobiles among
others. The abundance of natural fibers, especially cotton in China, India, and
the US is contributing significantly to the growth of the global textile
market. Silk is used in upholstery and apparels, as it is available in both
variations fine as well as coarse. Wool and jute are used as textile materials
for their resilience, elasticity, and softness. Therefore, the increasing
consumption of natural fibers such as cotton, silk, wool, and jute will drive
the global textile market during the forecast period.
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As per Technavio, the innovations in textile industry will have
a positive impact on the market and contribute to its growth significantly over
the forecast period. This global
textile market 2019-2023 research report also analyzes other
important trends and market drivers that will affect market growth over
2019-2023.
Global textile market:
Innovations in textile industry
Major players in the global textile market are involved in
product innovation to retain their positions and maintain a competitive edge in
the market. For instance, several vendors are launching new heating technology
to keep clothes warm during winter through infrared heat absorption. Similarly,
the development of post-consumer cotton waste jeans that use waste cotton but
ensure the garments’ quality and strength are being developed. Therefore, such
innovations are expected to drive the global textile market during the forecast
period.
Global textile market:
Segmentation analysis
This market research report segments the global textile market
by product (natural fibers, polyesters, nylon, and others), by application
(fashion, technical, household, others) and geographical regions (APAC, North
America, Europe, and South America, and MEA).
The APAC region led the market in 2018, followed by North
America, Europe, and South America, and MEA respectively. During the forecast
period, the APAC region is expected to register the highest incremental growth
due to the large presence of textile vendors and a huge consumer base.
Some of the key topics covered in the report include:
Market Landscape
·
Market ecosystem
·
Market characteristics
·
Market segmentation analysis
Market Sizing
·
Market definition
·
Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
·
Regional comparison
·
Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
·
Vendors covered
·
Vendor classification
·
Market positioning of vendors
·
Competitive scenario
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