Global Textile Market expected to generate around USD 1,207 billion by 2025, at a CAGR of around 5% between 2019 and 2025
NEW YORK, NEW YORK, UNITED STATES, February 28, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Textile Market by Raw Material (Cotton, Wool, Silk, and Chemicals & Synthetic), by Product Type (Natural Fiber, Polyester, and Nylon), and by Application (Household, Technical & Workwear, Fashion & Clothing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global textile market was valued at approximately USD 858 billion in 2018 and is expected to generate around USD 1,207 billion by 2025, at a CAGR of around 5% between 2019 and 2025.
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. Additionally, the technical textiles are increasingly being adopted due to their wide scope and range of use. In emerging countries like India, government initiatives are also trying to fuel the demand for technical textiles. Favorable safety regulations formulated by different governments across the globe is mainly fuelling the demand for textiles in the automotive industry.
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Based on raw material, the textile market is segmented into cotton, wool, silk, and chemicals and synthetic. The cotton segment is expected to dominate the global market, as it is considered as the world’s most crucial fiber. Cotton is a natural fiber that grows on plants. Cotton is naturally absorbent, soft breathable, and especially sustainable, which makes it perfect for as a raw material in apparels, garments, and home textiles.
On the basis of product type, the market is categorized into the natural fiber, polyester, and nylon. The polyester segment is expected to dominate the global market. The poly-cotton blend is the most common type of blend that is found in apparels. Poly-cotton blend is wear-wrinkle resistant and doesn’t shrink after washing, which is the primary factor for this segment’s growth.
On the basis of application, the market includes household, technical and workwear, fashion and clothing, and others. The household segment is likely to dominate the global market, as this category utilizes all types of natural and synthetic fibers for making bed linen, quilts, pillows, curtains, etc.
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.
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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, and Arvind Ltd.
This report segments the global textile market as follows:
Global Textile Market: Raw Material Analysis
Chemicals and Synthetic
Global Textile Market: Product Type Analysis
Global Textile Market: Application Analysis
Technical and Workwear
Fashion and Clothing
Global Textile Market: Regional Analysis
Middle East and Africa
Chemical & Materials Market Research Reports – https://www.zionmarketresearch.com/category/chemical-materials
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Source: EIN Presswire