CAGR: 6.8%Current Market Size: USD 498 BillionFastest Growing Region: Europe
Largest Market: APACProjection Time: 2022-2029Base Year: 2021
The Global Textile Fabric market is expected to grow from USD 498 billion in 2021 to USD 842.9 billion by 2029, at a CAGR of 6.8% during the Projection period 2022-2029. The growth of this market is mainly driven owing to the increasing demand for comfortable and stylish clothing among consumers.
In textile industries, fibers are used to weave fabrics and narrow fabrics, as well as finish and fabricate products. A textile fabric is manufactured through the processing of wool or yarn, or the weaving of fabric. Many types of processes are used to manufacture bedding, clothing, apparel, medical, and other products, by processing textile fiber including knitting, crocheting, weaving, and others. In addition, the market players will find lucrative opportunities in the next few years as low-cost, lightweight, multifunctional fabrics become increasingly popular in sportswear. A further expansion of the market will be achieved through research and development activities to enhance the product. Moreover, it is important for the clothing to meet the specific needs of each sport and activity, including elasticity, water resistance, vapour permeability, and heat resistance, as well as aesthetic attributes such as comfort, softness, colour, and texture which are helping the sportswear market to improve the quality of their product more which is ultimately triggering the growth of textile fiber market. Urbanization and rising disposable income may also boost the textile fabrics sector, and in the coming years, social networks, e-commerce, influencer marketing, and the social media world will also increase demand for clothing, resulting in a stronger textile fabric market.
Sample Request: - Global Textile Fabric Market
Market Dynamics:
Drivers:
An increase in popularity is being seen for smart textiles that communicate with the environment by using metals, optical fibers, and various conductive polymers. Technological advancements in the textile fabric market are playing a key role in the overall growth of the market. The rising demand of consumers for comfortable, stylish, water-resistant, heat-resistant clothes etc. helps the key players to focus more on the properties of clothes they are manufacturing, in order to make the fabrics or clothing more acceptable and demandable among the consumers.
Restraints:
The main restraining factor which is hindering the growth of the textile fabric market is the instability in the prices of cotton raw materials. Cotton fiber is one of the most demandable fabrics among others but the fluctuating prices of cotton raw material make it difficult for the manufacturers because the changes in raw material price will affect the pricing of the final product and if in case the price of the final product is higher than usual price, then it will affect the sales which will impacts the growth of the textile fabric market.
Opportunities:
The demand for disposable protection in the healthcare sector is on the rise which is driving the growth of the market and will keep on adding more value to the growth because the demand for disposable protective gear will keep on increasing. Because the healthcare sector demands hygienic and safe clothes for various procedures which are happening inside the hospital premises such as surgeries and testing procedures. Moreover, disposable protective gear is also used in research laboratories is also accounts for the growth of the market.
Challenges:
Market players are facing problems in importing and exporting final products across the countries which are hampering the growth of the textile fabric market. Import and Export restrictions result in low sales and decreased availability of products which is affecting market growth. Reduced sales also affect the manufacturing and production process. Moreover, the trade balance of a country or area is negative if imports exceed exports so it is important to maintain a balance between import and export.
Segmentation Analysis:
The global textile fabric market has been segmented based on type, application, and region.
By Type
The type segment includes polyester, cotton, polycottons and others. The cotton segment led the largest share of the textile fabric market with a market share of around 29.83% in 2021. As the world's most important natural fiber, cotton has superior properties such as strength, absorption, and colour retention. Garments made of cotton can easily be machine washed in hot water and can withstand repeated washings which makes them more desirable among consumers, which eventually boosts the growth of the textile fabric market.
By Application
The application segment includes technical, household and fashion & clothing. The fashion & technology segment led the largest share of the textile fabric market with a market share of around 39.23% in 2021. Fashionable clothing is increasingly becoming popular among all age groups across the globe, driving the market's growth. The increasing demand of consumers for different types of clothing depends on the occasion, different types of patterns, colours and designs in clothing wear are lubricating the growth of the textile fabric market.
Global Textile Fabric Market- Sales Analysis.
The sale of textile fabric expanded at a CAGR of 4.5% from 2015 to 2021.
The textile fabric market is driven by the rising demand for comfortable and stylish clothing with additional characteristic properties like water resistance, heat resistant, clothes that lock odour etc. Market players are continuously working on consumer demand to make more acceptable products.
Over the course of the Projection period, the market is anticipated to grow as a result of rising demand for clothing from the fashion sector and the expansion of e-commerce platforms. The three main tenets of the sector are creating, producing, and distributing various flexible materials like yarn and garments. A variety of finished and semi-finished products in bedding, clothing, apparel, medical, and other items are produced primarily using a number of methods, including knitting, crocheting, weaving, and others.
Textile fabrics market growth can be attributed to the growth of the fashion and apparel industry, an increase in investments, expansion of the oil and gas industry, and advancements in the chemical industry.
Thus, owing to the aforementioned factors, the global Textile Fabric Market is expected to grow at a CAGR of 6.8% during the Projection period from 2022 to 2029.
Global Textile Fabric Market- By Regional Analysis:
The regions analyzed for the gloves market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the textile fabric market and held a 36.34% share of the market revenue in 2021.
Global Textile Fabric Market- Country Analysis:
Germany's textile fabric market size was valued at USD 48.72 billion in 2021 and is expected to reach USD 83.08 billion by 2029, at a CAGR of 6.9% from 2022 to 2029. High technical innovation in textile manufacturing enables Germany to manufacture high-quality clothing, and because fashion trends are evolving and living standards are increasing, demand for such high-quality textiles has increased both domestically and internationally which propels the growth of the textile fabric market.
China’s textile fabric market size was valued at USD 53.9 billion in 2021 and is expected to reach USD 93.3 billion by 2029, at a CAGR of 7.1% from 2022 to 2029. China's textile industry is the world's largest both in terms of production and exports. Further, Chinese cotton productivity is almost three times that of Indian cotton production.
India's textile fabric market size was valued at USD 40.35 billion in 2021 and is expected to reach USD 69.32 billion by 2029, at a CAGR of 7% from 2022 to 2029. The popularity of traditional garments has been boosted by the growth of e-commerce portals, which provide more exposure to small-scale producers who were confined to a limited geographical area.
Key Industry Players Analysis:
To increase their market position in the global textile fabric business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
6.8% |
Market Size |
498 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Application and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Loyal Textiles, Arvind Limited, YI CHUN TEXTILE LTD, Cotton Corporation of India, Lu Thai Textile Co., Limited, Nike Inc., Levi Strauss & Co., Fabindia, REDA GROUP, Addias AG, Bombay Rayon, Paramount textiles, Conville, Reliance Industries Limited, Bruno Banani, Dorothy Perkins, Weiqiao Textile Company Limited, China Textiles, and Shahlon Group. |
By Type |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Textile Fabric Market by Type:
Global Textile Fabric Market by Application:
Global Textile Fabric Market by Region:
Global Textile Fabric market’s size in 2021 was USD 498 billion.
Global Textile Fabric key market players are Loyal Textiles, Arvind Limited, YI CHUN TEXTILE LTD, Cotton Corporation of India, Lu Thai Textile Co., Limited, Nike Inc., Levi Strauss & Co., Fabindia, REDA GROUP, Addias AG, Bombay Rayon, Paramount textiles, Conville, Reliance Industries Limited, Bruno Banani among others.
Asia Pacific region dominated the textile fabric market and held a 36.34% share of the market revenue in 2021.
The global Textile Fabric market is expected to grow with a 6.8% CAGR during the Projection period.
Political Factors- There is a long-term impact to the political and legal issue. If some old problems aren't resolved effectively, they might cause problems in the contemporary textile fabric industry. Political stability and terrorism are two of the past's greatest unresolved problems. The fashion sector is more uncertain the more politically unstable a country is. Traders must consider the dangers associated with politics and the law before entering the global textile fabric business.
Economical Factors- Deep effects of economic variables can be seen in the garment and fashion industries. The industry plays a significant role in the global economy. Because it affects sales and earnings, economic instability can have both positive and negative effects on the fashion sector. Consumers have greater discretionary income to spend on clothing during economic boom times. They cut back on their spending throughout the recession. In order to compete with more generic brands, it forces fashion firms and merchants to offer products at comparatively low prices. Because they prefer purchasing that is affordable, consumers with less disposable cash.
Social Factor- The social and cultural values of the market have an impact on corporate growth. Social changes among customers over the past ten years have had an impact on the demand for fashion goods. E-commerce has altered the entire buying scene, influencing everyone from traditional consumers to fashion influencers. The buying preferences of millennials are constantly changing as a result of them focusing on fashion marketers and following fashion influencers. The millennial generation will not accept anything less than superior quality at a lesser cost. "Social and cultural values influence shopping decisions greatly." Consumers now make more deliberate and knowledgeable purchasing selections. Feedback is more important to them than marketing and advertising. For fashion brands and retailers, this has resulted in a new challenge.
Technological Factors- Technology innovation is one of the most significant aspects of the textile and clothing industries today. Businesses in the apparel and fashion industries are succeeding because to current technologies and improved efficiency and effectiveness. Businesses in the textile industry are currently undergoing a significant reorientation toward clothing-related technological textiles. Due of the sophisticated machinery and labour-intensive processes involved, these textiles are relatively pricey. The incredible marriage of textiles and technology is changing the face of fashion. Consumers love it and fashion innovators are making the industry more advanced than it was in the past. Technology is enhancing consumer and fashion industry intelligence.
Environmental Factors- The textile fabric is thought to be 10% of the world's carbon emissions, which is greater than all international travel and maritime shipping put together. About 20% of the clean water pollution in the world is attributed to the dyeing and finishing of textiles. An estimated 0.5 million tonnes of microfibres per year are released into the ocean during the washing of synthetics. 35 percent of the principal microplastics discharged into the environment come from washing synthetic clothing. 700,000 microplastic fibres from a single polyester washing load that could enter the food chain.
Legal Factors- The Indian textile fabric sector is enormous and significantly increases our nation's GDP. The Textile Body Act of 1963 was passed to establish a committee to oversee the quality of textiles, textile machinery, and related issues. The law ensures that both machinery and textiles are kept in good condition. Whereas the purpose of the Textile Undertakings Act is to regulate the purchase and sale of textile undertakings, as well as the owners' right, title, and interest in respect of the textile undertakings listed in the First Schedule, in order to increase the production and distribution of various types of cloth and yarn in order to serve the interests of the general public, and to regulate matters related to or incidental thereto.
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