Textile Market Outlook, Industry Size, Growth Factors, Investment Opportunity 2024-2032
IMARC Group, a leading market research company, has recently released a report titled “Textile Market Report by Raw Material (Cotton, Chemical, Wool, Silk, and Others), Product (Natural Fibers, Polyesters, Nylon, and Others), Application (Household, Technical, Fashion and Clothing, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the textile market share, trends, size, and industry growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global textile market size reached US$ 1,027.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,445.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
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What is Textile?
Textiles are flexible materials made from natural or synthetic fibers and are fundamental to a wide array of applications, ranging from clothing and home decor to industrial uses. These materials offer the benefits of durability, comfort, and versatility, making them integral to daily life as well as specialized sectors like healthcare and automotive industries. Characteristically, textiles come in a multitude of types to meet various functional needs and aesthetic preferences. From cotton and wool to polyester and nylon, the choices are abundant. Some textiles also feature added properties such as water resistance, flame retardancy, or antimicrobial treatments for enhanced functionality. A defining feature of textiles is their adaptability; their diverse range allows for customization in color, texture, and strength, providing solutions tailored to specific applications.
Moreover, the development of sustainable and eco-friendly options, like organic cotton or recycled polyester, has broadened their consumer base by appealing to environmentally conscious individuals.
Textile Market Trends:
The rising awareness about sustainable living and ethical consumption stands as a critical factor driving the market growth of textiles. In addition to this, advancements in textile engineering, including smart textiles and nanotechnology applications, are propelling the market.
Furthermore, the shift in consumer preferences toward higher-quality, durable fabrics is favorably influencing the market. The modern lifestyle, which often leans towards comfort and convenience, supports the need for versatile and easy-care textiles. Coupled with this, the ever-growing fashion industry, with its demand for diverse and novel fabrics, is also contributing to the market growth of textiles.
Additional drivers include an increase in disposable income, myriad applications from apparel to technical textiles used in medical and industrial settings, and the emergence of specialty stores and online platforms focusing on niche textile categories. These factors collectively contribute to the flourishing market for textiles globally.
Textile Market Report Segmentation:
Breakup by Raw Material:
· Cotton
· Chemical
· Wool
· Silk
· Others
Breakup by Product:
· Natural Fibers
· Polyesters
· Nylon
· Others
Breakup by Application:
· Household
· Technical
· Fashion and Clothing
· Others
Breakup by Region:
· North America
· Asia-Pacific
· Europe
· Latin America
· Middle East and Africa
Competitive Landscape With Key Players:
The competitive landscape of textile market size has been studied in the report with the detailed profiles of the key players operating in the market
Some of These Key Players Include:
· Aditya Birla Ltd.
· Arvind Limited
· Asahi Kasei Corporation
· BSL Limited
· China Petroleum & Chemical Corporation
· DuPont de Nemours Inc.
· Honeywell International Inc.
· INVISTA (Koch Industries Inc.)
· Paramount Textile Mills (P) Ltd.
· Solvay SA
· Toray Industries Inc.
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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