Textile Market Size, Share, Industry Analysis, Growth, 2032

Textile Industry Prospective:

The global textile market size was worth around USD 1,738.80 Million in 2023 and is predicted to grow to around USD 3,390.00 Million by 2032 with a compound annual growth rate (CAGR) of roughly 7.70% between 2024 and 2032.

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The report analyzes the global textile market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the textile industry. The report covers a forecast and an analysis of the textile market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion) and volume (Kilotons).

In order to give the users of this report a comprehensive view of the textile market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.

Textile Market: Overview

Textiles can be fibers, filaments, or yarns, which are used to produce fabric or cloth. Generally, textiles are obtained from four main sources—plant, animal, mineral, and synthetic. Weaving, knitting, ginning, spinning, crocheting, and bonding are the major manufacturing processes of textile goods. Textile materials like cotton, silk, wool, and flax fibers are used as raw material to produce final products of textiles.

Textiles are used in a wide range of applications, such as household, workplace, industrial, and miscellaneous uses. Large production of the textile industry is consumed by clothing applications and for making containers like baskets and bags. Moreover, the household applications use textiles in upholstered furnishings, carpeting, towels, bedding, window shades, coverings for tables, etc.

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Textile Market: Growth Factors

The global textile market is likely to experience good growth in the future, owing to the flourishing automobile production and rapid industrialization in emerging nations across the world. Textiles used in automobiles are generally non-apparels that are broadly used in cars, buses, trains, etc.

Thus, the textiles used in vehicles mean all kinds of textile materials, such as fibers, yarns, filaments, and fabrics. About 75% of the automobile textiles are utilized for interiors, i.e., seat covers, door liners, and carpets. The remaining of the automobile textiles is used to produce safety belts, tires, hoses, airbags, etc. Favorable safety regulations formulated by different governments across the globe is mainly fuelling the demand for textiles in the automotive industry.

Textile Market: Report Scope

Textile Market: Segmentation

The study provides a decisive view of the textile market by segmenting the market based on raw material, product type, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. The regional segment includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Based on raw material, the textile market is split into cotton, wool, silk, and chemicals and synthetic. The cotton segment is predicted to dominate the global market, since it is considered as the world’s most vital fiber. Cotton is a natural material that grows on plants. Cotton is inherently absorbent, soft breathable, and notably sustainable, which makes it excellent for as a raw material in apparels, garments, and home textiles.

On the basis of product type,  Natural fibre, polyester, and nylon are the three categories that are used to classify the market segmentation based on the type of product. The section of the market that deals with polyester is anticipated to be the most dominant. Within the realm of garments, the poly-cotton mix is the most prevalent sort of blend that can be discovered. The fact that poly-cotton blend is resistant to wear and wrinkles and does not shrink after washing is the key element that is contributing to the expansion of this market segment.

On the basis of application, the market is comprised of a variety of different categories, such as fashion and clothes, technical and workwear, and domestic goods. In light of the fact that this category makes use of all kinds of natural and synthetic fibres for the production of bed linen, quilts, pillows, curtains, and other items, the home segment is projected to be the most dominant section in the worldwide market.

Textile Market: Regional Analysis

By region, North America is projected to grow significantly in the upcoming years. The U.S. textile industry primarily depends on importers and suppliers of textile materials. Additionally, the U.S. textile industry exports textiles to around 200 countries across the world. Moreover, in the U.S., the changing lifestyle of young consumers is driving the demand for clothing and fabric, which is likely to support the region’s textile market growth in the future.

The European textile market is expected to grow substantially in the upcoming years. Germany, UK, and France are the top textile producers in the region. Germany is the most dominating nation in the European textile market. The rising demand for high-tech textiles is one of the major factors driving this regional market. Moreover, advancements in performing fiber-based materials and the digitization of manufacturing and supply chains are projected to further fuel the textile market in Europe.

Textile Market: Competitive Space

Some key players of the global textile market are

• Shandong Jining
• Invista
• Honeywell International
• Asahi Kasei Fibers Corporation
• Paramount Textile Group
• Lu Thai Textile Co. Ltd.
• Bombay Dyeing
• Grasim Industries
• JCT Limited
• Weiqiao Textile Co. Ltd.
• DBL Group
• IBENA Group
• Arvind Ltd.
• And Others

This report segments the global textile market as follows:

Global Textile Market: Raw Material Analysis

• Cotton
• Wool
• Silk
• Chemicals
• Synthetic

Global Textile Market: Product Type Analysis

• Natural Fiber
• Polyester
• Nylon

Global Textile Market: Application Analysis

• Household
• Technical and Workwear
• Fashion and Clothing
• Others

Global Textile Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa