Textile Market size was valued at USD 1695.23 Bn in 2023 and is expected to reach USD 3041.24 Bn by 2030, at a CAGR of 7.7%
Textile Market Overview:
The purpose of this research is to offer an overview of the Textile industry as well as thorough market segmentation by segments and geographies. The study includes vital information on the market positions of the top Textile organizations, as well as major industry trends and possibilities.
The study also focuses on the major industry players in the Global Textile market, including information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into global, regional, and company market trends, volume, and value. This study examines the whole Textile Market Size from a worldwide viewpoint, evaluating historical data and making projections.
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Textile Market Scope:
Following the completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Both top-down and bottom-up approaches, as well as numerous data triangulation methods, were widely used throughout the market engineering process to achieve market estimation and forecasts for the overall market segments and sub-segments offered in the Textile market study. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are computed using weights assigned to each segment based on usage rate and average sale price. To determine the country-wise splits of the overall market and its sub-segments, the percentage adoption or usage of the given market Size in the relevant area or nation is employed.
Textile Market Segmentation:
Based on Product: Nylon, Polyester, Natural Fiber, and Others make up the market segments. The Polyester sub-segment is anticipated to yield the highest revenue among them all. In 2023, polyester had the biggest share of the textile market, and over the course of the forecast period, it is anticipated to grow at the fastest rate. Polyester is produced in a variety of forms, including microfibers, staple fibers, and filament yarns. It has been combined with other fibers to enable a broad range of uses in numerous industries. Prized for its extraordinary toughness, polyester is a multipurpose material used in a wide range of products and industries.
Its versatility in the clothing industry is similar to that of cotton fibers; it can be used to create a wide range of outfits, including business suits, casual wear, socks, and everyday shirts. Beyond the realm of fashion, polyester’s versatility finds application in homes, where it forms the foundation for a variety of household necessities such as microfiber towels, blankets, curtains, and upholstery. Because of its inherent ability to withstand moisture, it is the perfect fabric for making cushions for chairs, sofas, and pillows, adding to their comfort and durability.
Enter the automotive industry, where polyester is incorporated into seat belts to keep passengers safe and into car tires to strengthen and extend their life. Because of its ability to control soil erosion, drain water, and filter soil, polyester plays a crucial part in geosynthetics used in construction and civil engineering, strengthening roads and landfills. However, its impact is even more widespread, appearing in a variety of industrial uses, including tarps, food containers, boats, bottles, ropes, and cords. Polyester’s adaptability and resilience highlight its ubiquity across diverse industries, demonstrating its indispensable nature in the production of a vast array of products that are ubiquitous in daily life and across multiple sectors of the global economy.
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Textile Market Key Players:
Acquisitions, partnerships, and collaborations were among the inorganic growth strategies mentioned in the industry. Industry participants in the Textile market are expected to profit from strong future growth possibilities due to rising demand. The following are a few firms involved in the global Textile industry.
Global
1. Inditex (Zara)
2. Adidas AG
3. H&M
4. VF Corporation
5. Alibaba Group
North America
6. Mohawk Industries
7. Hanesbrands Inc.
8. WestPoint Home
9. Milliken & Company
Europe:
10. Burberry Group PLC
11. Marks and Spencer Group plc
Asia Pacific:
12. Welspun India Ltd.
13. Shandong Ruyi Technology Group
14. Fast Retailing (UNIQLO)
15. Li & Fung Limited
16. Middle East and Africa
17. Nigerian Textile Mills Plc
18. Sappi Southern Africa Ltd.
19. Alok Industries Ltd.
20. Vlisco Group
21. David Whitehead & Sons (Africa)
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Textile Market Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after examining the political, economic, social, and technological variables influencing the Textile market in these regions.
COVID-19 Impact Analysis on Textile Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Textile market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Textile Market Report are:
- What will be the Textile market’s CAGR throughout the projected period?
- Which market category emerged as the market leader in the Textile industry?
- Who are the key players in the Textile market?
- How big will the Textile market be in 2027?
- Which firm had the biggest market share in the Textile industry?
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