Textiles Market by Raw Material (Chemical, Cotton, Silk), Product Type (Natural Fibers, Nylon, Polyesters), Application - Global Forecast 2024-2030

Textiles Market by Raw Material (Chemical, Cotton, Silk), Product Type (Natural Fibers, Nylon, Polyesters), Application - Global Forecast 2024-2030

The Textiles Market size was estimated at USD 1.56 trillion in 2023 and expected to reach USD 1.66 trillion in 2024, at a CAGR 7.35% to reach USD 2.56 trillion by 2030.

The textile market encompasses the production, distribution, and consumption of natural and synthetic fibers used in the manufacturing of various products such as apparel, home textiles (bedding, curtains, carpets), technical textiles (medical, automotive applications), and industrial textiles (agricultural, protective clothing). The market caters to diverse sectors, including fashion, healthcare, transportation, construction, and agriculture. It spans a vast array of raw materials sourcing fiber production methodologies, including natural (cotton, wool) and synthetic (polyester, nylon), weaving or knitting processes, dyeing, finishing treatments, and product design and distribution channels. The growing infrastructure development and expansion of various application areas worldwide fuel the demand for textiles. On the other hand, the price volatility of raw materials and the availability of low-quality products hinder market growth. However, product development and rising awareness and focus on sustainability aspects are expected to propel the use and production of textiles in the coming years.

Regional Insights

The textiles market in the Americas has been experiencing steady growth over the past few years, with the United States being a significant contributor to this growth, with advancements in manufacturing technologies such as smart textiles and digital printing augmenting its development. Additionally, eCommerce platforms have gained popularity among consumers in North America due to their convenience and ease of use; thus driving sales of textiles further across the region. In South America, Brazil and Peru are also emerging as key players in textile production due to increased global demand for eco-friendly and organic textile products. APAC is considered the fastest-growing market for textiles globally due to the rapid industrialization of developing economies, including China and India playing a significant role in this expansion. China remains an influential player in the global textiles market, leading in the production and export of textile goods. Southeast Asian countries such as Bangladesh, Indonesia and Vietnam have emerged as vital manufacturing hubs for textiles due to their low labor costs and favorable government policies. These nations are gaining prominence by attracting investments from international apparel brands seeking cost-effective production facilities. Europe's textiles market has been expanding at a moderate pace over recent years, primarily driven by consumer preferences shifting toward sustainable and high-quality products. European Union regulations promoting eco-friendly practices have led to innovations, such as bio-textiles made from renewable resources or recycled materials. The Middle East is witnessing substantial growth in its textiles industry fueled by rising demand for luxury fashion items from affluent consumers within the region. In Africa, several countries such as Ethiopia demonstrate potential for textiles sector expansion due to their availability of raw materials like cotton coupled with supportive government policies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Textiles Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rapid urbanization and increasing demand for textiles from technical application sectors
• Increasing demand for textiles from the fashion and apparel sector
• Surging consumer interest in home decor and interior design

Market Restraints

• Volatility in prices of raw materials used in textiles

Market Opportunities

• Introduction of new types and varieties of textiles
• Increasing focus on enhancing sustainability in textile production

Market Challenges

• Highly fragmented market and availability of low-quality products

Market Segmentation Analysis

• Raw Material: Development of develop sustainable textile solutions using bio-based feedstock to reduce dependency on fossil fuels
• Application: Increasing demand for improved and eco-friendly textiles from fashion industry

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Textiles Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Textiles Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

SCTI & TfS partner to drive transformation in textile, leather sectors

Sustainable Chemistry for the Textile Industry and Together for Sustainability (TfS) are joining forces to accelerate sustainability efforts in the textile and leather sectors through innovative chemistry solutions. As an alliance of leading chemical companies, SCTI aims to empower these industries by implementing sustainable chemistry practices that safeguard employees, local communities, consumers, and the environment.

RIL completes acquisition of Sintex, pumps in INR 1,500 crore

Reliance Industries Ltd (RIL) acquired a 70% stake in Sintex Industries Ltd., an Ahmedabad-based yarn and fabric manufacturer known for its black plastic water tanks, by investing INR 1,500 crore. The acquisition is part of a joint resolution plan submitted by RIL and Assets Care & Reconstruction Enterprise Limited (ACRE) after Sintex defaulted on loan repayments in 2020.

Swiss firm Archroma finalizes acquisition of Huntsman Textile Effects

Switzerland-based Archroma, a provider of sustainable specialty chemicals and solutions completed its acquisition of Huntsman Corporation's Textile Effects business. The acquisition enhances Archroma's comprehensive portfolio of solutions catering to the apparel, textiles, packaging, paper, coatings, adhesives, and sealants markets. The newly acquired Textile Effects business integrated with Archroma's Brand and Performance Textile Specialties unit to form the new Archroma Textile Effects division.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Textiles Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Textiles Market, highlighting leading vendors and their innovative profiles. These include Albany International Corp., Archroma Management GmbH, Arvind Limited, Berry Global Inc., BSL Ltd., Charles Parsons Group, China Textiles (Shenzhen) Co.,Ltd., Coats Group PLC, Compagnie de Saint-Gobain S.A., Cone Denim LLC by Elevate Textiles, Inc., DUNMORE, DuPont de Nemours, Inc., Geelong Textiles Australia, Huntsman Corporation, James Dunlop Textiles, JCT Limited, KPR Mill Limited, Lu Thai Textile Co., Limited, Milliken & Company, Paramount Textile Mills (P) Ltd., Raymond Limited, Reliance Industries Limited, Successori Reda S.p.A., Tex Tech Industries, The Bombay Dyeing & Manufacturing Co Ltd., Trelleborg AB, Trident Limited, Unifi, Inc., Vardhman Textiles Limited, and Welspun India Limited.

Market Segmentation & Coverage

This research report categorizes the Textiles Market to forecast the revenues and analyze trends in each of the following sub-markets:

Raw Material

Chemical

Cotton

Silk

Wool

Product Type

• Natural Fibers
• Nylon
• Polyesters

Application

• Fashion & Clothing
• Apparel
• Handbags
• Ties & Clothing accessories
• Household
• Bedding
• Kitchen
• Towel
• Upholstery
• Technical
• Agriculture
• Construction
• Medical
• Transport

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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