Global Textile Fabrics Market Analysis, Trends and Opportunities 2020 - 2024
Summary -
A new market
study, titled “Global Textile Fabrics Market
- Global Demand, Sales, Consumption and Forecasts to 2024“ has been featured on
WiseGuyReports.
Market Analysis
Textile
fabric is a cloth that is either woven, knitted, or bonded by using natural or
man-made yarns, threads, and fibers. It is generally bifurcated into
plant-based fabrics and synthetic fabrics. Plant-based fabrics consist of
cotton, wool, silk, and hemp. Synthetic fabrics consist of polyester, viscose,
rayon, and polyamide. The major factors driving the growth of the global market
for textile fabrics are increasing demand for sportswear and performance wear
and expanding textile industry in the emerging economies of Asia-Pacific. The
growing awareness regarding the health benefits of fitness activities in
developed and developing countries plays a vital role in the growth of the
global market. However, the fluctuations in the cotton prices, the import-export
scenario of trading countries, and volatile currency exchange rates are
expected to hamper the market growth in the years to follow. Nevertheless, the
growing awareness regarding the environmental impacts of synthetic cotton
farming, the textile companies are shifting toward organic cotton, which is
likely to create lucrative opportunities for the textile fabric manufacturers
during the review period. The Global Textile Fabrics Market is projected to
expand at 5.67% CAGR to attain USD 398.81 Billion by the year 2025 during the
forecast period.
Market
Segmentation
Based on
fabric type, the global textile fabrics market has been segmented into cotton,
polycottons, and polyester. Among these fabric types, the cotton segment held
the largest market share of 52.50% in 2018. The high demand for cotton fabric
in the manufacturing of t-shirts is expected to be the key factor favoring the
growth of the segment during the forecast period. The polycottons
(polyester-cotton blends) segment is further categorized into 65/35%, 50/50%,
35/65%, 40/60%, 10/90%, and others. The 65/35% polycotton blend segment held
the largest market share in 2018 owing to its use in the manufacturing of a
wide range of garments. On the basis of application, the global textile fabrics
market has been divided into aerospace & defense, energy, industrial gas
turbine, automotive, oil & gas, and others. The t-shirt segment held the
largest market share of over 53.00% in 2018. This is mainly due to vast use of
leisure wears in daily wear category. Also, the current trend of personalized
t-shirts as per the demand has favored the high use of t-shirts at present.
Regional
Analysis
The global
textile fabrics market has been studied with respect to five key regional
markets, namely North America, Europe, Asia-Pacific, Middle East & Africa,
and Latin America. The Asia-Pacific market accounted for the largest market
share of 44.00% in 2018 and is projected to the grow at the highest CAGR of
6.18% during the review period. This is mainly attributed to the high demand
for apparel and sportswear clothing in the region. Also, the easy availability
of raw material, low labor costs, and growing concern for health fitness are
further expected to augment the overall market growth. China is the major
growth contributor in this market followed by India, Vietnam, Bangladesh,
ASEAN, Taiwan, and Thailand. The European market for textile fabrics accounted
for the second-largest market share in 2018, which is primarily due to the
robust fashion and sports apparel industry in the region. The North American
market is estimated to register a healthy CAGR of 5.87%. The US is the leading
market for textile fabrics in this region owing to the increasing consumption
of cotton fabric in T-shirts and outdoor clothing. Also, it is one of the major
markets for textile raw materials, fabrics, apparel, yarns, and home
furnishings, apart from other textile finished applications.
Major
Players
The
prominent players in the global textile fabrics market are Antex Knitting Mills
(US), Coville (US), Arvind Limited (India), Loyal Textile Mills Ltd (India),
Reliance Industries Limited (India), YI CHUN TEXTILE LTD (China), Shahlon Group
(India), Bombay Rayon Fashions Limited (India), Weiqiao Textile Company Limited
(China), China Textiles (Shenzhen) Co.,Ltd (China), HuaFang Group (China),
COFCO -CHINATEX (China), Wolfin Textiles Ltd (UK), Lauffenmühle (Germany),
Klopman International S.r.l. (Italy), Whaleys (Bradford) LTD (UK), Toray
Textiles Europe Limited (UK), and Premier Textiles Limited (UK), among others.
Some of the key strategies followed by the players operating in the global
textile fabrics market are expansion, acquisitions, investments, joint
ventures, agreements, and collaborations.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5166752-global-textile-fabrics-market-research-report-forecast-till-2025
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