Textile Market Analysis By Regions (North America, Europe, Asia-Pacific, Latin
America and Africa), Product, Size, Share, Trends, Growth Factors, Revenue By Application
And Segment Forecasts To 2027.
Global Textile Market size was
worth USD 961.5 billion in 2019. The market is projected to grow at a CAGR of
4.3% over the forecast duration. Rising demand for apparel in emerging
countries such as India, Bangladesh, China and Mexico are driving the market
growth. Further, urbanization has resulted in a rise in the number of retail
and supermarket across the world, which, in turn, driving the sales of the
products.
Get a Free Sample Copy of Report @ https://www.millioninsights.com/industry-reports/textile-market/request-sample
Textile is formed using different
processes such as weaving, felting, knitting and crocheting. It is used to
produce a variety of goods including kitchen, bedding, medical, apparel,
clothing accessories and upholstery. Increasing demand for these products in
the across various end-use industries is propelling the textiles market growth.
In North America, the U.S is
projected to occupy the largest market share. Owing to increasing demand from
apparel and fashion industry, natural fibers are anticipated to gain traction
over the forecast period. Major textile players in the region are focusing on
strengthening their business presence and developing products in a niche
segment.
The demand for personal protective equipment
(PPE) is increasing owing to the growing safety concern for workers. This
demand has further intensified in the medical industry owing to the recent
outbreak of COVID-19. Fiber products such as nylon are estimated to gain
traction owing to its use in PPE.
Smart textile is the other
segment that is expected to supplement market growth over the forecast
duration. Such as textiles are widely used in technically advanced sensing
devices. Consumers use smart textile for clothing purpose while military
personal uses it for safety and protection purpose.
Raw Material Insights
On the basis of raw materials,
the textile market is categorized into chemical, silk, cotton and others. Of
them, the cotton acquired 39.5% of the market share by volume in 2019. Features
such as color retention, high absorbency and strength are driving the growth of
cotton products. Countries such as India, U.S and China are among major cotton
producers globally.
In the textile industry, chemical
plays a vital role. Oxalic acid, soda ash, acetic acid and sulphuric acid are
the key chemical used while manufacturing of textile. This chemical helps in
retaining the color of the textile and provide an aesthetic appearance. Growing
demand for aesthetically appealing textile materials is estimated to drive the
use of chemical products in the textile materials.
In 2019, wool-made textile held
12.6% of the market share by volume. Wool fiber, alternatively known as
keratin, contains nitrogen, Sulphur, hydrogen and carbon. Wool is used in
abundant amount in producing winter wear products. Its recyclability and
moisture management properties are major factors driving their demand.
On the other hand, silk is widely
used owing to its features such as elasticity, absorbency and high strength.
Silk segment is projected to witness the highest growth with CAGR of 4.7% over
the forecast duration.
Avail complete report with TOC and List of Figures @ https://www.millioninsights.com/industry-reports/textile-market
No comments:
Post a Comment