Press Release: April 24, 2020
Textile is a flexible material consisting of natural and artificial fibers that are manufactured using numerous processes, including weaving, knitting, knotting, crocheting, tatting, felting and braiding. These materials are extensively used to manufacture a wide range of finished textile product, including upholstery, kitchen, bedding, apparel, handbags, clothing accessories, automotive clothing and construction clothing among others.
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The major factors fuelling the growth of global textile market includes growing demand for technical textile, increasing demand of protective clothing and rising demand of clothing accessories from automotive & construction industries. In addition, rising disposable income, increasing urbanization and growing number of supermarkets & retail stores across the globe, are some of other factors which will further drive the growth of global textile market during the forecast period. Moreover, there has been increasing awareness about personal protective equipment (PPE) in the manufacturing industry on account of stringent regulations for worker safety, which is expected to propel the demand for engineered fiber products such as nylon, thereby driving the growth of global textile market. Additionally, growing technological innovations for the development of new upholstery products derived from coated fabrics and spider silk is expected to create ample opportunities for the growth of global textile market in upcoming years. However, the market is highly fragmented, which hampering the growth of global textile market.
Read Full Report Description: Textile Market By Product (Natural Fibers, Polyesters, Nylon and Others), By Raw Material (Cotton, Chemical, Wool, Silk and Others), By Application (Fashion & Clothing, Household, Technical and Others) and By Region – Market Opportunities & Forecast, (2019-2026) https://www.noahresearch.com/report/textile-market/
Based on region, Asia-Pacific is expected to grow at substantial CAGR during forecast period due to growing demand for apparels especially through e-commerce portals. Also, increasing preference of manufacturers to set up their production units in countries such as China, India, Pakistan, and Bangladesh due to availability of skilled labour at low cost, thereby driving the growth of textile market in Asia-Pacific.
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Global textile market has been segmented on the basis of product, raw material and application. Based on product, the market is segmented into natural fibers, polyesters, nylon and others. Based on raw material, the market is segmented into Cotton, Chemical, Wool, Silk and Others. Based on application, the market is segmented into fashion & clothing, household, technical and others. On the basis of fashion & clothing, the market is further segmented into apparel, ties & clothing accessories, handbags and others. On the basis of household, the market is further segmented into bedding, kitchen, upholstery, towel and others. On the basis of technical, the market is further segmented into construction, transportation, medical, protective and others.
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Some of the major players of global textile market are Invista, Toray Industries Inc., Solvay, Honeywell International Inc., Ibena Textilwerke GmbH, Bombay Dyeing, Grasim Industries Limited, DBL Group, The TJX Companies Inc. and VF Corporation among others.
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