Textile Global Market Report 2022
- April 2022 •
- 400 pages •
- Report ID: 6251037 •
- Format: PDF
Major companies in the textile market include Toray Industries Inc., Daiwabo Holdings Co Ltd, Mohawk Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Far Eastern New Century, Tarkett S.A, Beaulieu International Group, Masco Corporation and Grasim Industries Limited.
The global textile market is expected to grow from $530.97 billion in 2021 to $575.06 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The market is expected to grow to $760.21 billion in 2026 at a compound annual growth rate (CAGR) of 7.2%.
The textile market consists of sales of textiles by entities (organizations, sole traders and partnerships) that produce fiber, yarn, threads, carpets, rugs, linens and other textile products.
The main types of textile are other textile product mills, fabrics, yarn, fiber and thread, home furnishings and floor coverings, textile and fabric finishing and fabric coating mills.Household furniture refers to all mobile, compactable goods or machinery used to furnish a home, such as chairs, tables, sofas, mattresses, and so on.
The different materials include cotton, jute, silk, synthetics, wool and involves various process such as woven, non-woven.
Asia Pacific was the largest region in the textile market in 2021.Western Europe was the second largest region in the textile market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Growth Of E-commerce - Increasing demand for online shopping is expected to drive the textile manufacturing market.Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the textile manufacturing market.
In countries such as India, for instance, e-commerce portals have boosted the sales of traditional garments by giving larger exposure to producers who were confined to one geography.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the textile manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2021 and into 2021.
However, it is expected that the textile manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Advancements in wireless technologies and rising demand for connectivity is driving the demand for smart textiles.Smart textiles are fabrics capable of interacting with their environment.
They have the ability to react to physical stimuli such as thermal, mechanical, electrical and chemical sources.Sensors, actuators and fabrics are the major components of smart textiles.
The materials used in smart textiles include optical fibers, metals and conductive polymers.They are widely used in fashion, entertainment, medical, transportation, sports and fitness and military.
For example, Cityzen Science’s, d-shirt, has a wide range of functions such as heart rate monitor, built-in GPS, accelerometer, altimeter.
The countries covered in the textile market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.