02.19.20
The global textile market size was valued at $961.5 billion in 2019 and is estimated to exhibit a CAGR of 4.3% from 2020 to 2027 owing to the increased demand for apparels, especially in developing countries such as China, India, Mexico, and Bangladesh, according to Grand View Research.
Furthermore, increasing disposable income and rapid urbanization has led to a rise in the number of supermarkets and retail stores, thereby driving the overall market growth.
Textile is a flexible material that is formed using numerous processes, including knitting, weaving, crocheting, or felting. These materials are extensively used to manufacture a wide range of finished goods, such as upholstery, kitchen, transportation, bedding, construction, medical, protective equipment, apparel, handbags, and clothing accessories.
The U.S. is expected to be the largest market for textiles in the North American region. Textile companies in the region focus on restructuring their businesses, developing effective work processes, and investing in niche products. Natural fibers are anticipated to be the largest product segment in the region on account of the rising demand from the fashion and apparel industry.
There has been increasing awareness about personal protective equipment (PPE) in the manufacturing industry on account of stringent regulations for worker safety. This is expected to lead to an increased demand for engineered fiber products such as nylon. Furthermore, technological innovations in terms of the development of new upholstery products derived from coated fabrics and spider silk are expected to open new industry avenues over the forecast period.
The rising popularity of sophisticated gadgets with varied technologically-advanced functions such as sensing and reacting to surroundings is anticipated to drive the demand for smart textiles over the forecast period. Smart textiles are used by consumers as a clothing entity as well as by military professionals for protection and safety purposes.
Waterproof breathable textiles (WBT) are durable, lightweight, and deliver high strength. As a result, they are extensively used in numerous outdoor sports products including tents, backpacks, footwear, and other fabric-based gears or garments. Increasing demand for lightweight and multifunctional fabric in the sportswear sector is likely to boost the demand for waterproof breathable textiles.
Based on raw material, the market has been segmented into cotton, chemical, wool, silk, and others. In terms of volume, cotton is anticipated to be the largest raw material segment, accounted for a market share of 39.5% in 2019. The growth of the segment is attributed to the properties of cotton including high absorbency and strength, and color retention. China, India, and the U.S. are the major cotton producers in the world.
Chemicals play an important role in the textile industry. Acetic acid, oxalic acid, sulfuric acid, and soda ash are some of the basic chemicals during textile manufacturing. Chemicals are used as finishing and dyeing agents in order to improve the appearance of textiles. The rising importance of the physical appearance of textiles is expected to drive the segment growth over the forecast period.
Wool-based textile accounted for 12.6% of the market in terms of volume in 2019. Wool fiber, which is also known as keratin, is composed of hydrogen, nitrogen, carbon, and sulfur. Wool is mainly used in the manufacturing of winter wear Wool is recyclable and renewable and also has qualities of strength and moisture management, thereby driving the product demand.
Silk is increasingly adopted in the textile industry owing to properties such as high strength, elasticity, and absorbency. In terms of revenue, this segment is projected to register the highest CAGR of 4.7% from 2020 to 2027.
Based on product, the textile market has been segmented into natural fibers, polyesters, nylon, and others. The natural fibers segment dominated the market in 2019 owing to the growing demand from the apparel and fashion industry. Natural fibers include cotton, linen, flax, silk, hemp, and wool. They are considered to be biodegradable and renewable and are hence eco-friendly.
Polyester fiber is characterized by high strength, quick-drying, and high chemical and wrinkle-resistant properties. These advantages have made polyester one of the most widely used products in the textile industry. Polyester finds application in a variety of end-use products such as carpets, curtains, nets, and ropes. Growing demand for household products and technical textiles is projected to drive the polyester segment over the forecast period.
Nylon is widely used in the synthetic textile category. It exhibits properties such as high resilience, elasticity, luster, and low moisture absorbency, and hence finds application in several industries including apparel and home furnishing. Since nylon is a highly versatile material, it is widely used in the textile industry.
Others include polyethylene (PE), polypropylene (PP), aramid, and polyamide. Polypropylene is a synthetic fiber that has high strength and water-resistant properties. Similarly, polyamide is known for its high strength and durability. Due to these factors, these fibers are widely used in the textile industry.
On the basis of application, the market has been segmented into household, technical, fashion and clothing, and others. Fashion and clothing are expected to be the fastest-growing application segment over the forecast period owing to the rise in consumer spending on apparel and clothing, coupled with the highly developed fashion industry in the European and North American regions.
Fashion and clothing is the largest consumer of textiles. In terms of volume, the fashion sector held a considerable share of over 70.0% of the total market in 2019. Apparel, ties and clothing accessories, and handbags are the key areas that significantly consume textiles. Consumer requirements for crease-free fabrics and high quality dyed and printed fabrics are expected to drive the demand for textiles over the forecast period.
Textiles are utilized in different areas of household applications, some of which include bedding, kitchen products, upholstery, and towels. Natural fibers such as cotton and linen as well as synthetic fibers including polyester and acrylic polyamides are primarily used for the manufacturing of household textiles. Rising consumer preference for light absorbing and textured fabrics in home décor is anticipated to drive the segment growth over the forecast period.
Technical textiles are used to meet the high-performance end-user requirements from various industries including construction, transportation, medical, and protective equipment. Nylon, polypropylene, polyester, and acrylic fibers are some of the widely used raw materials used for manufacturing technical textiles.
Asia Pacific is the largest regional market and is anticipated to register a substantial CAGR of 5.6% in terms of value over the forecast period. This is attributed to the rapidly increasing demand for apparels, particularly through e-commerce portals. Moreover, manufacturers prefer setting up manufacturing units in countries such as China, India, Bangladesh, and Pakistan owing to high cotton production and low labor costs.
North America is anticipated to register a CAGR of 3% from 2020 to 2027 in terms of value, owing to increasing initiatives for developing superior sports apparel and enhancing agricultural yield. The North America market is characterized by high demand from sectors such as meditech, sports tech, and agro-tech.
Europe was the second-largest market in terms of value as well as volume in 2019. Strict regulations imposed by the European Union (EU) on product quality and distribution of fabrics are anticipated to stabilize the growth rate in the region over the forecast period. Demand for silk fabrics for household and fashion applications is considered to provide substantial scope for market growth in Europe.
Easy availability of raw materials such as cotton and polyester, coupled with the presence of textile manufacturing units, has made Central and South America one of the largest producers of textiles. Countries such as Venezuela, Nicaragua, and Brazil are expected to drive the regional market for textiles over the forecast period on account of increasing construction spending, free trade agreements, and abundant availability of raw materials.
Furthermore, increasing disposable income and rapid urbanization has led to a rise in the number of supermarkets and retail stores, thereby driving the overall market growth.
Textile is a flexible material that is formed using numerous processes, including knitting, weaving, crocheting, or felting. These materials are extensively used to manufacture a wide range of finished goods, such as upholstery, kitchen, transportation, bedding, construction, medical, protective equipment, apparel, handbags, and clothing accessories.
The U.S. is expected to be the largest market for textiles in the North American region. Textile companies in the region focus on restructuring their businesses, developing effective work processes, and investing in niche products. Natural fibers are anticipated to be the largest product segment in the region on account of the rising demand from the fashion and apparel industry.
There has been increasing awareness about personal protective equipment (PPE) in the manufacturing industry on account of stringent regulations for worker safety. This is expected to lead to an increased demand for engineered fiber products such as nylon. Furthermore, technological innovations in terms of the development of new upholstery products derived from coated fabrics and spider silk are expected to open new industry avenues over the forecast period.
The rising popularity of sophisticated gadgets with varied technologically-advanced functions such as sensing and reacting to surroundings is anticipated to drive the demand for smart textiles over the forecast period. Smart textiles are used by consumers as a clothing entity as well as by military professionals for protection and safety purposes.
Waterproof breathable textiles (WBT) are durable, lightweight, and deliver high strength. As a result, they are extensively used in numerous outdoor sports products including tents, backpacks, footwear, and other fabric-based gears or garments. Increasing demand for lightweight and multifunctional fabric in the sportswear sector is likely to boost the demand for waterproof breathable textiles.
Based on raw material, the market has been segmented into cotton, chemical, wool, silk, and others. In terms of volume, cotton is anticipated to be the largest raw material segment, accounted for a market share of 39.5% in 2019. The growth of the segment is attributed to the properties of cotton including high absorbency and strength, and color retention. China, India, and the U.S. are the major cotton producers in the world.
Chemicals play an important role in the textile industry. Acetic acid, oxalic acid, sulfuric acid, and soda ash are some of the basic chemicals during textile manufacturing. Chemicals are used as finishing and dyeing agents in order to improve the appearance of textiles. The rising importance of the physical appearance of textiles is expected to drive the segment growth over the forecast period.
Wool-based textile accounted for 12.6% of the market in terms of volume in 2019. Wool fiber, which is also known as keratin, is composed of hydrogen, nitrogen, carbon, and sulfur. Wool is mainly used in the manufacturing of winter wear Wool is recyclable and renewable and also has qualities of strength and moisture management, thereby driving the product demand.
Silk is increasingly adopted in the textile industry owing to properties such as high strength, elasticity, and absorbency. In terms of revenue, this segment is projected to register the highest CAGR of 4.7% from 2020 to 2027.
Based on product, the textile market has been segmented into natural fibers, polyesters, nylon, and others. The natural fibers segment dominated the market in 2019 owing to the growing demand from the apparel and fashion industry. Natural fibers include cotton, linen, flax, silk, hemp, and wool. They are considered to be biodegradable and renewable and are hence eco-friendly.
Polyester fiber is characterized by high strength, quick-drying, and high chemical and wrinkle-resistant properties. These advantages have made polyester one of the most widely used products in the textile industry. Polyester finds application in a variety of end-use products such as carpets, curtains, nets, and ropes. Growing demand for household products and technical textiles is projected to drive the polyester segment over the forecast period.
Nylon is widely used in the synthetic textile category. It exhibits properties such as high resilience, elasticity, luster, and low moisture absorbency, and hence finds application in several industries including apparel and home furnishing. Since nylon is a highly versatile material, it is widely used in the textile industry.
Others include polyethylene (PE), polypropylene (PP), aramid, and polyamide. Polypropylene is a synthetic fiber that has high strength and water-resistant properties. Similarly, polyamide is known for its high strength and durability. Due to these factors, these fibers are widely used in the textile industry.
On the basis of application, the market has been segmented into household, technical, fashion and clothing, and others. Fashion and clothing are expected to be the fastest-growing application segment over the forecast period owing to the rise in consumer spending on apparel and clothing, coupled with the highly developed fashion industry in the European and North American regions.
Fashion and clothing is the largest consumer of textiles. In terms of volume, the fashion sector held a considerable share of over 70.0% of the total market in 2019. Apparel, ties and clothing accessories, and handbags are the key areas that significantly consume textiles. Consumer requirements for crease-free fabrics and high quality dyed and printed fabrics are expected to drive the demand for textiles over the forecast period.
Textiles are utilized in different areas of household applications, some of which include bedding, kitchen products, upholstery, and towels. Natural fibers such as cotton and linen as well as synthetic fibers including polyester and acrylic polyamides are primarily used for the manufacturing of household textiles. Rising consumer preference for light absorbing and textured fabrics in home décor is anticipated to drive the segment growth over the forecast period.
Technical textiles are used to meet the high-performance end-user requirements from various industries including construction, transportation, medical, and protective equipment. Nylon, polypropylene, polyester, and acrylic fibers are some of the widely used raw materials used for manufacturing technical textiles.
Asia Pacific is the largest regional market and is anticipated to register a substantial CAGR of 5.6% in terms of value over the forecast period. This is attributed to the rapidly increasing demand for apparels, particularly through e-commerce portals. Moreover, manufacturers prefer setting up manufacturing units in countries such as China, India, Bangladesh, and Pakistan owing to high cotton production and low labor costs.
North America is anticipated to register a CAGR of 3% from 2020 to 2027 in terms of value, owing to increasing initiatives for developing superior sports apparel and enhancing agricultural yield. The North America market is characterized by high demand from sectors such as meditech, sports tech, and agro-tech.
Europe was the second-largest market in terms of value as well as volume in 2019. Strict regulations imposed by the European Union (EU) on product quality and distribution of fabrics are anticipated to stabilize the growth rate in the region over the forecast period. Demand for silk fabrics for household and fashion applications is considered to provide substantial scope for market growth in Europe.
Easy availability of raw materials such as cotton and polyester, coupled with the presence of textile manufacturing units, has made Central and South America one of the largest producers of textiles. Countries such as Venezuela, Nicaragua, and Brazil are expected to drive the regional market for textiles over the forecast period on account of increasing construction spending, free trade agreements, and abundant availability of raw materials.