Global Textile Fabric Market Size to Reach $398.81 billion by 2025
The Global Textile Fabrics Market is projected to reach $398.81 billion by the end of 2025 growing at a CAGR of 5.67% during the forecast period of 2019-2025. The global textile fabrics market is studied on the basis of various market segments that include fabric type, polycottons and application. These major market segments are further categorized into various sub-segments such as fabric type segment is categorized into polyester, polycottons and cotton; Polycottons segment is categorized into 10/90%, 40/60%, 35/65%, 50/50%, 65/35% and others; Application segment is categorized into T-shirts, Performance Wear, Outdoor Clothing and Sportwear.
Textile fabric is a material consist of a network of artificial or natural fibers. Textile fabric is separated into synthetic fabrics (rayon, polyester, polyamide, viscose) and plant-based fabrics (wool, silk, hemp, cotton). It is used to manufacture handbags, apparel, kitchen, construction, medical, transportation, bedding, upholstery, clothing, protective equipment and so on.
Surge in demand of textile fabric for the production of sportswear, rise in disposable income of consumer, rapid urbanization, rising popularity regarding health benefits of fitness activities and growth of automotive industry are some major factor driving the growth of the global textile fabric market. However, volatile currency and fluctuation in price of raw material are key factors hampering the growth of the global textile fabric market. Moreover, owing to growing awareness about the ill effects of synthetic cotton farming on environment, the textile companies are shifting towards organic cotton farming. This is expected to bring lucrative opportunities for the global textile fabric market to grow during the forecast period.
The major factor driving the growth of the global textile fabric market is their increasing use in manufacturing of sportswear and apparel. Sports is an essential activity to maintain physical and mental fitness in a human body. Due to increase in health benefits of fitness activities such as yoga, aerobics, running, etc. and rise in health consciousness among people, the demand for sportswear and performance wear is increasing and thereby increasing the growth of the global textile fabric market especially in India, China and other South-East Asian countries. Indian textile industry was valued at $108 billion in 2017 and it is expected to reach at $223 billion by the end of 2021. In 2018, India imported woven fabric of value $51,354 million to produce sportswear and performance wear. On the other hand, China is a leading producer and exporter of textile fabrics and accounts for approx. 60% of the global consumption of it. To manufacture apparel and clothes, China imported woven cotton fabric of value $229.17 million in 2018.
The global textile fabrics market is studied among Asia-Pacific, North America, Latin America, Europe, Middle East and Africa. Among which, Asia-Pacific dominated the global market in 2018 with the largest market share of 44% and it is expected to continue its dominance with the highest growth at a CAGR of 6.18% during the forecast period owing to easy availability of raw material, high demand for apparel, low labour cost, surge in demand for sportswear clothing, and growing concern for health fitness. In Asia-Pacific, China is the major growth contributor in the global textile fabric market followed by India, Bangladesh, ASEAN, Taiwan, Vietnam and Thailand. On the other hand, in 2018, Europe hold second largest market share in the global textile fabric market due to robust sports apparel and fashion industry in this region. During the forecast period, North America is expected to grow at a CAGR of 5.87%.
Market players included in the research study of the global textile fabric market are Klopman International S.r.l. (Italy), HuaFang Group (China), Whaleys (Bradford) Ltd. (UK), Lauffenmühle (Germany), Toray Textiles Europe Limited (UK), Loyal Textile Mills Ltd. (India), Wolfin Textiles Ltd. (UK), COFCO-CHINATEX (China), China Textiles (Shenzhen) Co., Ltd. (China), Premier Textiles Limited (UK), Weiqiao Textile Company Limited (China), Bombay Rayon Fashions Limited (India), Shahlon Group (India), YI CHUN Textile Ltd. (China), Arvind Limited (India), Coville (US), Antex Knitting Mills (US) and Reliance Industries Limited (India).
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