Textile Market Size, Share - Forecast To 2034

TEXTILE MARKET OVERVIEW

The global Textile Market size was valued approximately USD 720.41 billion in 2024 and will touch USD 1217.12 billion by 2033, growing at a compound annual growth rate (CAGR) of 6% from 2024 to 2033.Textile is what we usually call cloth, which is made of fiber, yarn or cloth through weaving, knitting and other ways. Textiles are especially versatile, can be made into clothing, can be made into furniture covers, and can be used in industry and medicine. These fabrics range from natural, such as cotton, wool and silk, to synthetic, such as polyester, nylon and spandex. There are also many ways to make textiles, which can be woven, knitted, hooked, felted, etc., and can also be processed according to demand, such as making durable, soft or waterproof fabrics.

COVID-19 IMPACT

“The Covid-19 Pandemic Has Affected The Global Supply Chain Of The Textile Market”

Post-pandemic, textile demand plummeted globally but has since rebounded, with growth rates soaring and demand nearing pre-pandemic levels. The 2020-2021 period saw the market caught off guard, with work-from-home mandates and lockdowns disrupting supply chains and halting production. Yet, the surge in interest for sportswear and fitness gear, along with the popularity of health-tracking devices, is reinvigorating the market. The shift to remote work and indoor activities, coupled with increased hospital textile use, suggests a promising outlook for smart fabrics.

LATEST TREND

”Smart Fabrics, The New Face Of The Textile Industry”

With more online fashion companies, fashion trends have become extremely fast, which has also boosted sales of new textiles. Moreover, there is a growing preference for smart textiles that interact with the environment, such as optical fibers, metals and conductive plastics. This is expected to make the textile market even hotter. These smart textiles are amazing. They can sense and respond to various physical stimuli, such as mechanical, chemical, thermal and electrical. Therefore, the demand for smart textiles is also increasing. What's more, people now prefer environmentally friendly products, which makes big companies have to adjust their business and invest more in the production of environmentally friendly products.

TEXTILE MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Cotton,Chemical,Wool,Silk.

Cotton: Cotton is a soft fiber picked from the cotton plant, because it is breathable, soft and absorbent, so it is particularly popular in making clothes, household items and so on. Places like India, China and the United States grow a lot of cotton because of the good weather.

Chemical fiber: Chemical fiber is a man-made fiber, made by chemical methods. There are many kinds of this fiber, such as polyester, nylon and so on. They are durable, do not deform easily, and can be made with various characteristics as needed, such as water absorption and elasticity. Because it is cheap and easy to use, it can be used in many fields.

Wool: Wool is the hair cut from the sheep, the warm effect is particularly good, and elastic, can absorb water, so in winter wear wool clothes especially warm and comfortable. In addition, sheep grow new hair every year, so wool resources are very renewable. Wool can also be made into all kinds of things, such as fine clothes, carpets and so on.

Silk: Silk is made of silkworms. It feels particularly slippery and looks shiny. It is a high-grade textile material. Silk is light and breathable, and hangs particularly well, making clothes look particularly elegant. In the past, only rich people could afford to wear silk. Now, although it is not so expensive, many people still like it. Silk also absorbs water and is comfortable to wear in summer.

By Application

Based on application, the global market can be categorized into Household, Technical, Fashion & Clothing.

Household goods: Textiles used at home, such as bed sheets, towels, curtains, are designed to make us live more comfortable and beautiful. They have to be practical, durable, and look good. Nowadays, people are more and more interested in environmentally friendly materials, so these textiles are also becoming environmentally friendly. What's more, antibacterial textiles are becoming more popular because people love to be clean.

Technical textiles: Technical textiles are high-grade fabrics specially used for various industries, they are used in cars, aircraft, hospitals, farmland and construction and other places, with a variety of special functions, such as strong, durable, but also resistant to various harsh environments. Like cloth for filters, clothing for fire prevention, bandages for healing, and cloth for strengthening soil, they are the crystallization of high technology.

Fashion clothing: Fashion clothing is the fabric used to make clothes and accessories, from everyday clothes to haute couture, to bags, shoes, hats and other small accessories, are inseparable from them. The style of fashion textiles follows the trend and is also influenced by culture and season. Nowadays, everyone is pursuing fabrics that are both good-looking and practical, so environmentally friendly materials, smart fabrics and fabrics that enhance performance are also increasing. In this way, our clothes are fashionable and practical, really the best of both worlds.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

”Increasing Demand for Sustainable and Eco-friendly Products”

Now, many people like to buy environmentally friendly textiles, which has become a hot spot in the textile market. Because people are starting to appreciate the environment, they are willing to choose fabrics made from renewable, recycled or organic materials. Seeing this choice, brands and manufacturers are also beginning to change, they are starting to try more environmentally friendly production methods, such as using natural dyes, less water, and actively promote organic cotton, hemp and recycled polyester such as environmentally friendly materials. This not only makes everyone feel good, but also conforms to the concept of global environmental protection, and makes the textile industry more willing to invest in green technologies and practices.

Restraining Factor

”International Trade Barriers And Policy Uncertainty”

With globalization and the increasing complexity of international trade, the textile industry is now experiencing more and more troubles. Taxes and quotas on textiles, environmental requirements and import restrictions are making life difficult for multinational textile companies and supply chains. In developing countries, in particular, policies are constantly changing, leaving textile mills wondering what to do and global supply chains in disarray.

Opportunity

”Technological Advancements in Textile Manufacturing”

The textile market is so hot now, thanks to those high-tech methods. With new technologies such as automation, artificial intelligence and digitization, textile production is not only faster, but also higher in quality and lower in cost. Powerful tools like 3D weaving, smart fabrics and automatic cloth cutting machines are making textile products more sophisticated and creative, and the entire industry has been transformed. These advances have not only made old-fashioned textile manufacturing better, but also brought us new gadgets like smart wear and functional fabrics, and the market has grown larger and larger.

Challenge

”Environmental And Sustainability Pressures”

Increasing environmental consciousness and stringent global regulations are putting the textile sector under scrutiny. The process of textile production, which consumes water and involves chemical dyes, generates substantial waste, contributing significantly to environmental pollution. Urgent measures are required by the industry, including the adoption of eco-friendly dyes, material recycling, and water conservation technologies. However, these initiatives come with a high cost, posing a challenge for companies that may struggle to ascend in the industry due to financial constraints.

TEXTILE MARKET REGIONAL INSIGHTS

North America

The North American textile market is mainly supported by the United States and Mexico, especially the United States, which is both a large buyer of textiles and a large producer of textiles. Now the market for technical textiles, non-wovens and some special industry textiles (such as automotive, medical and defense) is particularly popular. People are starting to care about the environment, so more and more companies are starting to use eco-friendly materials, such as recycled fibers and eco-friendly dyes, to meet consumer and regulatory requirements. In addition, the U.S. textile industry has a "home production" trend, many companies have moved production closer to home, which can reduce the risk of supply chain, but also more quickly adapt to market changes. However, the North American textile market also has concerns, such as high labor costs, competition from cheap imports, and continuous innovation and investment in new technologies (such as automation and digital textile printing) to gain a foothold in the competition.

Europe

The European textile market has everything, and Italy, Germany, France and the United Kingdom are the big players in textile production. European textiles are of high quality, and things like luxury fabrics, high-tech textiles, and eco-friendly fashion are all hot. The European market is now particularly keen on innovations in environmentally friendly products and sustainable production. Europe is also a leader in the promotion of recycling fashion, recycling, waste reduction and the use of biodegradable materials are increasingly valued. The EU has also issued a number of strict environmental rules, so that enterprises can invest in green technology and use more environmentally friendly production methods. Although the European textile industry is technically strong, its Labour is expensive and it has to compete with low-cost producers in Asia for jobs, which is a headache. Nevertheless, European textiles remain competitive by virtue of high quality, innovation and adherence to environmental standards.

Asia

Asia is the leader in the textile market, and the growth is still fast, China, India, Bangladesh and Vietnam are the masters of the textile industry. China is a big player in global textile production, especially in mass clothing, fabrics and synthetic textiles. India does particularly well in cotton textiles, and Bangladesh is the big brother in ready-to-wear exports. The Asian textile market mainly relies on low-cost, high-volume production demand, which is thanks to a large number of labor and affordable wages. But now everyone wants to improve the quality of their products and do something new, such as technical textiles and environmentally friendly materials. Environmental issues are also becoming more important, with governments and companies looking for ways to make production cleaner and more energy efficient, as well as recycling, in response to stricter regulations and sustainability issues. Despite progress, pollution, labor rights and production process innovation are still major issues that the Asian textile industry continues to face.

KEY INDUSTRY PLAYERS

”Key Market Contributors Driving Textile's Advancement and Expansion”

The textile market is super competitive, mainly because of low cost, technology, and now everyone likes to buy environmentally friendly products. In Asia, where labor is cheap and production is abundant, the competition is particularly fierce, and China, India and Bangladesh are all big players in the textile industry. In Europe and North America, however, there is a preference for high-quality, creative textiles and a special emphasis on environmentally friendly materials. Now that digital printing, automation and smart textiles are on the rise, the entire industry is changing, and companies need to invest in new technologies quickly to stay behind. At the same time, changing raw material prices, stricter regulations, and increasingly eco-friendly consumers are forcing companies around the world to come up with new ideas to make their products better. To avoid obsolescence, companies need to pay more attention to personalization, product quality and environmentally friendly production.

List of Top Textile Market Companies

INVISTA
Lu Thai Textile Co. Ltd.
Paramount Textile Group
Paulo de Oliveira
S.A.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

From 2024 to 2033, the textile market has to continue to change, mainly to environmental protection, advanced technology, and things have to be done well. Now everyone is concerned about the environment, so companies will use more environmentally friendly materials, recycling methods and energy-saving technologies. Digitalization, automation, and the growing popularity of smart textiles will change the way production is done, making it faster and customizable to your needs. Asia is still the leader in textile production, but North America and Europe will focus more on expensive items, luxury textiles and eco-friendly fashion. Because everyone loves circular fashion and the rules are strict, everyone has to be more environmentally friendly. In addition, the challenges of labor costs, competition, and supply chain problems will push everyone to continue to find ways to innovate and invest more in the textile industry.