Textile Market Size, Share & Trends Analysis Report By Raw Material (Wool, Chemical, Silk), By Product (Natural Fibers, Polyester), By Application (Household, Technical), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global textile market size was projected at USD 1000.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028. Increasing demand for apparel from the fashion industry coupled with the growth of e-commerce platforms is expected to drive the market over the forecast period.

The textile industry works on three major principles, namely designing, production, and distribution of different flexible materials such as yarn and clothing. A wide array of processes such as knitting, crocheting, weaving, and others are largely used to manufacture a wide range of finished and semi-finished goods in bedding, clothing, apparel, medical, and other accessories.

The U.S. is anticipated to be the largest market in the North American region for textiles. It is one of the largest producers, raw-cotton exporter, and top raw-textile importer. Fashion is the largest application segment in the region owing to the fast-changing fashionable trends and ease of adoption for the same due to increasing online fast fashion companies.

There has been an increasing trend of smart textiles in the market that use optical fibers, metals, and various conductive polymers to interact with the environment. These help in detecting and reacting to various physical stimuli such as mechanical, thermal, or chemical and electric sources. This is expected to propel the growth of the technical application segment in the market for textile during the forecast period.

Increasing consumer preference towards sustainable products is forcing major textile companies to focus on restructuring their business and investing in manufacturing practices that target sustainable products. For instance, DuPont’s plant-based faux fur for performance fashion apparel and Eastman's usage of discarded carpet into new material is expected to open new industry avenues over the forecast period.

The recent outbreak of coronavirus disease has acted as a restraint to the market. Global trade restrictions due to disrupted supply chain and decline in textile product consumption amid imposed lockdown have further negatively impacted the market. However, the market is expected to recover strongly during the forecast period with government support and increasing public awareness in terms of effective precautionary measures.

Raw Material Insights

Cotton led the market for textile and accounted for the largest revenue share of more than 39.0% in 2020. Cotton is the world’s most important natural fiber, which is attributed to its superior properties such as high strength, absorption, and color retention. China, India, and the U.S. are the major producers of cotton and cotton-based products in the world.

Chemical-based textiles accounted for a volume share equivalent to 98,052.6 kilotons in 2020, as they play an important role in the entire textile manufacturing industry. Though chemicals are hazardous to human health and the environment, they are extensively used as mercerizing agents, neutralizers, leveling agents, binders, thickeners, and stain-removers in the textile industry.

The wool segment accounted for a revenue share of 13.3% in 2020. Wool primarily composed of hydrogen, carbon, sulfur, and nitrogen, is extensively used to manufacture insulation products such as winter wears, blankets, carpeting, upholstery, and others. In addition, the products made from the same are used to absorb odor and noise in heavy machinery, thereby contributing to segment growth.

Other raw materials used in the production of textiles are silk, minerals such as glass fibers and asbestos, and other synthetic material. Silk finds extensive use in the manufacturing of clothing, surgical suture, parachutes, silk comforter, and various others owing to high strength and elasticity, which is expected to drive the segment over the forecast period.

Product Insights

Natural fibers led the market for textile and accounted for over 44.0% share of the global revenue in 2020, on account of their use in the diverse application of the fashion and apparel industry. Increasing environmental concerns coupled with the consumer shift to use sustainable products is further expected to increase the demand for natural fibers, thereby aiding positive growth in the market.

Polyester is expected to witness a growth rate of 4.2% from 2021 to 2028, which can be attributed to its different properties such as high-strength, chemical and wrinkle resistance, and quick-drying. It is used in both, households as cushioning and insulating material in the pillows, and in industries for making carpets, air-filters, coated fabrics, and others.

Nylon is the third-largest product used in the textiles industry. It is widely used in apparel and home-furnishing applications owing to its high-resilience, elasticity, and moisture-absorbing properties. In addition, it acts as a substitute for silk-based products such as women’s stockings, parachutes, flak vests, and various others.

The other product segment includes Polyethylene (PE), Polypropylene (PP), aramid, and polyamide. Properties such as high resistance against acids and alkalis at high temperatures and minimum moisture retention have increased the demand for polyethylene in the market. Moreover, the use of polypropylene in the textile industry is adding positive growth to the market.

Application Insights

The fashion segment led the textile market and accounted for more than 74.0% of the global revenue share in 2020, owing to the increasing consumer spending on clothing and apparel. In addition, high consumer requirements for crease-free suiting and shirting fabrics, as well as quality dyed and printed fabrics across the globe, is likely to drive the global market demand for textiles from 2021 to 2028.

An increase in demand for formal and casual wear and other fashionable clothing among all age groups of the global population is the major growth driving factor for the market. Moreover, increasing population and urbanization in the emerging economies such as India, Bangladesh, Vietnam, Brazil, and others are likely to increase the demand for clothing and apparel, thereby positively contributing to the market.

Demand for textiles in the technical segment is expected to grow at a significant rate of 3.7% over the projected period, owing to its high-performance properties and end-user applications. In addition, increasing applications in construction, transportation, medical and protective clothing have boosted the use of the same, which is consequently driving the market.

The use of textiles in different areas of a household is one of the prominent growth driving factors. This includes bedding, upholstery, carpets, kitchen cloths, towel, and others. In addition, high-consumption of natural fibers such as linen and cotton along with synthetic fibers used for manufacturing household textiles is further propelling the growth of the market.

Regional Insights

Asia Pacific dominated the market for textile and accounted for over 47.6% share of global revenue in 2020, owing to the increasing sales volume of clothing and apparel goods. In addition, the presence of a high number of customers on e-commerce platforms buying clothing and related accessories in the developing economies is further adding positive growth to the market.

Increased penetration of organized retail, favorable demographics, rising income level, and favorable government policies are expected to drive demand for textiles, especially in countries such as India, Bangladesh, Pakistan, and others. For instance, in India, 100 percent foreign direct investment (FDI) is allowed in textiles which are set to focus on positive market growth over the forecast period.

In Europe, the market demand was estimated to be 83,298.8 kilotons in terms of volume in 2020 and is expected to grow at a significant rate over the forecast period. It can be attributed to the favorable government policies and trade agreements such as free-trade agreements and Euro-Mediterranean Dialogue on the textile and clothing industry.

The demand for textile in North America and Central and South America is likely to witness promising growth over the projected period owing to the rising demand from sports and apparel and home-furnishing textile products. In addition, consumption of textile fibers such as synthetic and cellulose fibers needed for filtration in industrial applications is expected to have a positive impact on market growth over the forecast period.

Key Companies & Market Share Insights

The market has been witnessing an increasing trend of expansion and mergers and acquisitions. The companies are trying to increase their sales through various government trade agreements along with the partnership with e-commerce portals such as Amazon, Flipkart, e-Bay, and others.

The market is fragmented due to the presence of several small- and medium-scale manufacturers, especially in countries such as China and India. Moreover, the easy availability of low-cost labor coupled with government support to establish various major players’ business units in the aforementioned countries is expected to add positive growth to the market. Some of the prominent players in the textile market include:

• BSL Limited

• INVISTA S.R.L.

• Lu Thai Textile Co., Ltd.

• Paramount Textile Limited

• Paulo de Oliveira, S.A.

• Successori REDA S.p.A.

• Shandong Jining Ruyi Woolen Textile Co. Ltd.

• Sinopec Yizheng Chemical Fibre Company Limited

• China textiles Ltd.

• Rhodia SA

• Li & Fung Group

• Modern Woollens Ltd.

• Mayur Suitings

• JCT Limited

Textile Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global textile market report on the basis of raw material, product, application, and region:

• Raw Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

  • Cotton

  • Chemical

  • Wool

  • Silk

  • Others

• Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

  • Natural fibers

  • Polyesters

  • Nylon

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

  • Household

    • Bedding

    • Kitchen

    • Upholstery

    • Towel

    • Others

  • Technical

    • Construction

    • Transport

    • Medical

    • Protective

  • Fashion & Clothing

    • Apparel

    • Ties & Clothing accessories

    • Handbags

    • Others

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • U.K.

    • Turkey

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa (MEA)

    • Saudi Arabia

    • Iran