The global textile market is expected to post a CAGR of over 6% during
the period 2019-2023, according to the latest market research report by Technavio.
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The global textile market is expected to post a CAGR of over 6% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing demand
for natural fibers. Natural fibers obtained from plants and animals
include cotton, silk, linen, wool, hemp, jute, and cashmere. These
fibers are widely used to manufacture garments, apparel, construction
materials, medical dressings, and interiors of automobiles among others.
The abundance of natural fibers, especially cotton in China, India, and
the US is contributing significantly to the growth of the global textile
market. Silk is used in upholstery and apparels, as it is available in
both variations fine as well as coarse. Wool and jute are used as
textile materials for their resilience, elasticity, and softness.
Therefore, the increasing consumption of natural fibers such as cotton,
silk, wool, and jute will drive the global textile market during the
As per Technavio, the innovations in textile industry will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
textile market 2019-2023 research report also analyzes
other important trends and market drivers that will affect market growth
Global textile market: Innovations in textile
Major players in the global textile market are involved in product
innovation to retain their positions and maintain a competitive edge in
the market. For instance, several vendors are launching new heating
technology to keep clothes warm during winter through infrared heat
absorption. Similarly, the development of post-consumer cotton waste
jeans that use waste cotton but ensure the garments’ quality and
strength are being developed. Therefore, such innovations are expected
to drive the global textile market during the forecast period.
“Apart from innovations in the textile industry, the growing demand
for textiles in developing economies, and capacity expansions by vendors
in the textile industry are some other major aspects that are expected
to boost the growth of the global textile market,” says a senior
analyst at Technavio.
Global textile market: Segmentation analysis
This market research report segments the global textile market by
product (natural fibers, polyesters, nylon, and others), by application
(fashion, technical, household, others) and geographical regions (APAC,
North America, Europe, and South America, and MEA).
The APAC region led the market in 2018, followed by North America,
Europe, and South America, and MEA respectively. During the forecast
period, the APAC region is expected to register the highest incremental
growth due to the large presence of textile vendors and a huge consumer
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Some of the key topics covered in the report include:
Market segmentation analysis
Market size and forecast
Five Forces Analysis
Key leading countries
Market positioning of vendors
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005213/en/