Global Textile Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

The Textile Market Report has been segmented on the basis of raw material, product, application, and region.  In Textile Market, the recent trend observed in the target market is manufacturers are focusing on technological advancements in textiles in terms of design, usability, texture, durability, and other aspects, which is projected to augment the global market growth over the forecast period.

Global Textile Market Overview:

The Textile Market was valued at $120 billion in 2021 & is projected to reach $204 billion by 2028. It is expected to grow at a 4.2% CAGR between 2021 and 2028.

Textile is a flexible material formed consisting of artificial or natural fibers. These yarns are produced by spinning raw fibers including wool, cotton, and other materials. Textiles are formed through knitting, weaving, crocheting, and knotting or tatting.

Global Textile Market Dynamics:

Increasing demand for fashion clothing and apparel globally acts as a major driving factor for the growth of the target market. In addition, mass production of climate-specific apparel or clothing, coupled with an increasing number of supermarkets and retail outlets are expected to support the revenue growth of the target market.

Increasing awareness regarding the use of personal protective equipment coupled with stringent regulations of government authorities regarding health and safety are projected to augment the target market growth.

The introduction to smart textile products in the electrics industry that is capable of sensing and reacting to environmental conditions is a factor expected to trigger the growth of the global market.

However, the fluctuating raw material cost may hamper the growth of the global market.

Global Textile Market Segmental Analysis:

Among the raw material segments, the cotton segment is expected to account for significant revenue shares in the global market, owing to its various properties including breathability, absorbency, and strength.

Among the product segments, the natural fiber segment is projected to register substantial growth.

Among the application segments, the fashion & clothing segment is anticipated to contribute significant revenue shares, owing to continuous innovations in the fashion industry.

Global Textile Market Regional Analysis:

Asia Pacific market for textile is expected to dominate the target market in terms of revenue, which is attributable to the strong base of manufacturing units. In addition, a positive outlook toward apparel & garments in India and China is expected to support the revenue growth of the target market in this region. Increasing disposable income, improved standard of living, along with growing e-commerce portals is expected to increase various apparel and other textile products including home furnishings. This is another factor anticipated to propel the target market growth.

North America Market is projected to account for significant shares, owing to the presence of premium apparel companies. In addition, an inclination toward premium apparel along with Initiatives by various companies to develop superior sports apparel is the major factors anticipated to support the growth of the target market in this region. Markets in Europe, Latin America, and Middle East & Africa are expected to register substantial growth during the forecast period.

Global Textile Market Segmentation:

Segmentation by Raw Material:

• Cotton
• Wool
• Chemical
• Silk

Segmentation by Product:

• Polyesters
• Natural Fibers
• Nylon

Segmentation by Application:

• Fashion & Clothing
• Technical
• Household

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa