The global textile market reached a value of nearly $525.85 billion in 2021, having grown at a compound annual growth rate (CAGR) of 2.9% since 2016. The market is expected to grow from $525.85 billion in 2021 to $699.72 billion in 2026 at a rate of 5.9%. The market is then expected to grow at a CAGR of 4.5% from 2026 and reach $870.64 billion in 2031.
Growth in the historic period resulted from the growth in world population, increased demand for man-made fibers, government initiatives for the textile industry, strong economic growth in emerging markets and a ban on plastic usage. Increasing costs, oil price volatility, counterfeit products, health hazards and the coronavirus pandemic are the factors that hindered the market growth.
Going forward, global population growth and urbanization, a rapid growth in ecommerce, rising spend on leisure, increasing retail penetration, increasing internet penetration and smartphone usage and growing preference for contactless delivery solutions will drive the growth. Factors that could hinder the growth of the textile market in the future include shortage of cotton and the Russian-Ukrainian war.
The textile market is segmented by type into fabrics, yarn, fiber and thread, home furnishings and floor coverings, textile and fabric finishing and fabric coating mills and other textile product mills. The other textile product mills market was the largest segment of the textile market segmented by type, accounting for 32.7% of the total in 2021. Going forward, the home furnishings and floor coverings market is expected to be the fastest growing segment in the textile market segmented by type, at a CAGR of 6.61% during 2021-2026.
The fabrics market is further segmented by type into broadwoven fabrics; narrow fabric mills and schiffli machine embroidery; non-woven fabrics and knitted fabrics. The broadwoven fabrics market was the largest segment of the fabrics market segmented by type, accounting for 50.4% of the total in 2021. Going forward, the narrow fabric mills and schiffli machine embroidery market is expected to be the fastest growing segment in the fabrics market segmented by type, at a CAGR of 5.89% during 2021-2026.
The home furnishings and floor coverings market is further segmented by type into home furnishings and floor furnishings. The home furnishings market was the largest segment of the home furnishings and floor coverings market segmented by type, accounting for 92.3% of the total in 2021. Going forward, the home furnishings market is expected to be the fastest growing segment in the home furnishings and floor coverings market segmented by type, at a CAGR of 6.64% during 2021-2026.
The textile and fabric finishing and fabric coatings market is further segmented by type into textile and fabric finishing mills; and fabric coating mills. The textile and fabric finishing mills market was the largest segment of the textile and fabric finishing and fabric coatings market segmented by type, accounting for 65.4% of the total in 2021. Going forward, the fabric coating mills market is expected to be the fastest growing segment in the textile and fabric finishing and fabric coatings market segmented by type, at a CAGR of 7.02% during 2021-2026.
The textile market is segmented by material into cotton, jute, silk, synthetics and wool. The cotton market was the largest segment of the textile market segmented by material, accounting for 40.2% of the total in 2021. Going forward, the jute and other materials market is expected to be the fastest growing segment in the textile market segmented by material, at a CAGR of 6.41% during 2021-2026.
The textile market is segmented by process into woven and non-woven. The woven market was the largest segment of the textile market segmented by process, accounting for 78.5% of the total in 2021. Going forward, the non-woven market is expected to be the fastest growing segment in the textile market segmented by process, at a CAGR of 6.6% during 2021-2026.
Asia Pacific was the largest region in the textile market, accounting for 44.5% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the textile market will be Middle East and Asia Pacific where growth will be at CAGRs of 12.87% and 6.03% respectively. These will be followed by Eastern Europe and Africa where the markets are expected to grow at CAGRs of 5.87% and 5.55% respectively.
The global textile market is highly fragmented, with a large number of large players. The top ten competitors in the market made up to 7.91% of the total market in 2021. Majority of the companies are local players have large number of domestic manufacturing facilities and have presence across the supply chain. However, some large companies are trying to expand their presence in other low cost economies to take advantage of low cost labor and cheaper raw material prices. Toray Industries Inc. was the largest competitor with 1.81% share of the market, followed by Sinopec Group with 1.31%, Mohawk Industries, Inc. with 1.25%, TJX Companies with 0.86%, Far Eastern New Century with 0.65%, Tarkett S.A with 0.49%, Ashley Furniture Industries, Inc. with 0.45%, Beaulieu International Group with 0.43%, Reliance Industries Limited with 0.35% and Weiqiao Textile Company Limited with 0.33%.
The top opportunities in the textile market segmented by type will arise in the other textile product mills segment, which will gain $59.3 billion of global annual sales by 2026. The top opportunities in the fabrics market segmented by type will arise in the broadwoven fabrics segment, which will gain $12.2 billion of global annual sales by 2026. The top opportunities in the home furnishings and floor coverings market segmented by type will arise in the home furnishings segment, which will gain $37.1 billion of global annual sales by 2026. The top opportunities in the textile and fabric finishing and fabric coatings market segmented by type will arise in the textile and fabric finishing mills segment, which will gain $11.3 billion of global annual sales by 2026. The top opportunities in segment by material will arise in the cotton segment, which will gain $69.0 billion of global annual sales by 2026. The top opportunities in segment by process will arise in the woven segment, which will gain $131.5 billion of global annual sales by 2026. The textile market size will gain the most in India at $28.1 billion.
Market-trend-based strategies for the textile market include focus on adopting digital textile printing inks, focus on use of non-woven fabrics, focus on using organic fibers, focus on sustainable fibers, focus on using blockchain in the manufacturing processes, focus on implementing digital platforms in textile supply chain management, focus on collaborating with technology companies to design and develop smart fabrics, focus on adopting robotics and automation, focus on investing in artificial intelligence and focus on partnerships and collaborations to develop innovative products.
Player-adopted strategies in the textile market include strengthening product portfolio by launching new products which are sustainable, expanding manufacturing capabilities to support the growing demand, focusing on flexible off-price business model and strengthening business by increasing investment in manufacturing plants.
To take advantage of the opportunities, the publisher recommends the textile companies to focus on digital printed textiles, focus on non-woven fabrics, focus on eco-friendly fabrics, expand in emerging economies, increase focus on e-commerce, offer competitive prices, leverage social media and focus on urban population.
This report describes and explains the textile market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from the growth in world population, increased demand for man-made fibers, government initiatives for the textile industry, strong economic growth in emerging markets and a ban on plastic usage. Increasing costs, oil price volatility, counterfeit products, health hazards and the coronavirus pandemic are the factors that hindered the market growth.
Going forward, global population growth and urbanization, a rapid growth in ecommerce, rising spend on leisure, increasing retail penetration, increasing internet penetration and smartphone usage and growing preference for contactless delivery solutions will drive the growth. Factors that could hinder the growth of the textile market in the future include shortage of cotton and the Russian-Ukrainian war.
The textile market is segmented by type into fabrics, yarn, fiber and thread, home furnishings and floor coverings, textile and fabric finishing and fabric coating mills and other textile product mills. The other textile product mills market was the largest segment of the textile market segmented by type, accounting for 32.7% of the total in 2021. Going forward, the home furnishings and floor coverings market is expected to be the fastest growing segment in the textile market segmented by type, at a CAGR of 6.61% during 2021-2026.
The fabrics market is further segmented by type into broadwoven fabrics; narrow fabric mills and schiffli machine embroidery; non-woven fabrics and knitted fabrics. The broadwoven fabrics market was the largest segment of the fabrics market segmented by type, accounting for 50.4% of the total in 2021. Going forward, the narrow fabric mills and schiffli machine embroidery market is expected to be the fastest growing segment in the fabrics market segmented by type, at a CAGR of 5.89% during 2021-2026.
The home furnishings and floor coverings market is further segmented by type into home furnishings and floor furnishings. The home furnishings market was the largest segment of the home furnishings and floor coverings market segmented by type, accounting for 92.3% of the total in 2021. Going forward, the home furnishings market is expected to be the fastest growing segment in the home furnishings and floor coverings market segmented by type, at a CAGR of 6.64% during 2021-2026.
The textile and fabric finishing and fabric coatings market is further segmented by type into textile and fabric finishing mills; and fabric coating mills. The textile and fabric finishing mills market was the largest segment of the textile and fabric finishing and fabric coatings market segmented by type, accounting for 65.4% of the total in 2021. Going forward, the fabric coating mills market is expected to be the fastest growing segment in the textile and fabric finishing and fabric coatings market segmented by type, at a CAGR of 7.02% during 2021-2026.
The textile market is segmented by material into cotton, jute, silk, synthetics and wool. The cotton market was the largest segment of the textile market segmented by material, accounting for 40.2% of the total in 2021. Going forward, the jute and other materials market is expected to be the fastest growing segment in the textile market segmented by material, at a CAGR of 6.41% during 2021-2026.
The textile market is segmented by process into woven and non-woven. The woven market was the largest segment of the textile market segmented by process, accounting for 78.5% of the total in 2021. Going forward, the non-woven market is expected to be the fastest growing segment in the textile market segmented by process, at a CAGR of 6.6% during 2021-2026.
Asia Pacific was the largest region in the textile market, accounting for 44.5% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the textile market will be Middle East and Asia Pacific where growth will be at CAGRs of 12.87% and 6.03% respectively. These will be followed by Eastern Europe and Africa where the markets are expected to grow at CAGRs of 5.87% and 5.55% respectively.
The global textile market is highly fragmented, with a large number of large players. The top ten competitors in the market made up to 7.91% of the total market in 2021. Majority of the companies are local players have large number of domestic manufacturing facilities and have presence across the supply chain. However, some large companies are trying to expand their presence in other low cost economies to take advantage of low cost labor and cheaper raw material prices. Toray Industries Inc. was the largest competitor with 1.81% share of the market, followed by Sinopec Group with 1.31%, Mohawk Industries, Inc. with 1.25%, TJX Companies with 0.86%, Far Eastern New Century with 0.65%, Tarkett S.A with 0.49%, Ashley Furniture Industries, Inc. with 0.45%, Beaulieu International Group with 0.43%, Reliance Industries Limited with 0.35% and Weiqiao Textile Company Limited with 0.33%.
The top opportunities in the textile market segmented by type will arise in the other textile product mills segment, which will gain $59.3 billion of global annual sales by 2026. The top opportunities in the fabrics market segmented by type will arise in the broadwoven fabrics segment, which will gain $12.2 billion of global annual sales by 2026. The top opportunities in the home furnishings and floor coverings market segmented by type will arise in the home furnishings segment, which will gain $37.1 billion of global annual sales by 2026. The top opportunities in the textile and fabric finishing and fabric coatings market segmented by type will arise in the textile and fabric finishing mills segment, which will gain $11.3 billion of global annual sales by 2026. The top opportunities in segment by material will arise in the cotton segment, which will gain $69.0 billion of global annual sales by 2026. The top opportunities in segment by process will arise in the woven segment, which will gain $131.5 billion of global annual sales by 2026. The textile market size will gain the most in India at $28.1 billion.
Market-trend-based strategies for the textile market include focus on adopting digital textile printing inks, focus on use of non-woven fabrics, focus on using organic fibers, focus on sustainable fibers, focus on using blockchain in the manufacturing processes, focus on implementing digital platforms in textile supply chain management, focus on collaborating with technology companies to design and develop smart fabrics, focus on adopting robotics and automation, focus on investing in artificial intelligence and focus on partnerships and collaborations to develop innovative products.
Player-adopted strategies in the textile market include strengthening product portfolio by launching new products which are sustainable, expanding manufacturing capabilities to support the growing demand, focusing on flexible off-price business model and strengthening business by increasing investment in manufacturing plants.
To take advantage of the opportunities, the publisher recommends the textile companies to focus on digital printed textiles, focus on non-woven fabrics, focus on eco-friendly fabrics, expand in emerging economies, increase focus on e-commerce, offer competitive prices, leverage social media and focus on urban population.
This report describes and explains the textile market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Table of Contents
1. Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure7. Product/Service Analysis - Product/Service Examples8. Supply Chain Analysis
6. Introduction and Market Characteristics
9. Customer Information
10. Major Market Trends
11. Global Textile Market Size And Growth
12. Textile Market, Regional Analysis
13. Global Textile Market Segmentation
14. Textile Market Segments
15. Market Comparison with Macro Economic Factors
16. Asia-Pacific Market
17. Western Europe Market
18. Eastern Europe Market
19. North America Market
20. South America Market
21. Middle East Market
22. Africa Market
23. Competitive Landscape and Company Profiles
24. Key Mergers And Acquisitions
25. Market Background: Paper, Plastics, Rubber, Wood And Textile Market
26. Global Textile Market Opportunities And Strategies
27. Textile Market, Conclusions And Recommendations
28. Appendix
Executive Summary
Textile Global Market Opportunities And Strategies To 2031 from the publisher provides the strategists; marketers and senior management with the critical information they need to assess the global textile market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates
- Create regional and country strategies on the basis of local data and analysis
- Identify growth segments for investment
- Outperform competitors using forecast data and the drivers and trends shaping the market
- Understand customers based on the latest market research findings
- Benchmark performance against key competitors
- Utilize the relationships between key data sets for superior strategizing
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider textile market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics: Brief introduction to the segmentations covered in the market, defintions and explanations about the textile market
- Key Trends: Highlights the major trends shaping the global textile market. This section also highlights likely future developments in the market
- Global Market Size and Growth: Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional Analysis: Historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region
- Market Segmentation: Contains the market values (2016-2031) and analysis for for segment by type, by material and by process in the market
- Regional Market Size and Growth: Regional market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region
- Competitive Landscape: Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players
- Key Mergers and Acquisitions: Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years
- Market Opportunities And Strategies: Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets
- Conclusions And Recommendations: Includes recommendations for textile providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups
- Appendix: This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report
Scope
Markets Covered
- 1) By Type: Fabrics; Yarn, Fiber And Thread; Home Furnishings And Floor Coverings; Textile And Fabric Finishing And Fabric Coating Mills; Other Textile Product Mills
- a) Fabrics Market By Type: Broadwoven Fabrics; Narrow Fabric Mills And Schiffli Machine Embroidery; Non-Woven Fabrics; Knitted Fabrics
- b) Home Furnishings And Floor Coverings Market By Type: Home Furnishings; Floor Furnishings
- c) Textile And Fabric Finishing And Fabric Coatings Market By Type: Textile And Fabric Finishing Mills; Fabric Coating Mills
- 2) By Material: Cotton; Jute; Silk; Synthetics; Wool
- 3) By Process: Woven; Non-Woven
Countries: 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
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; textile indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Toray Industries Inc.
- Sinopec Group
- Mohawk Industries, Inc.
- TJX Companies
- Far Eastern New Century
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 393 |
Published | November 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 525.85 Billion |
Forecasted Market Value ( USD | $ 870.64 Billion |
Compound Annual Growth Rate | 5.2% |
Regions Covered | Global |
No. of Companies Mentioned | 5 |