Textile Market Analysis and Competitive Insights till 2022 - 2030.

The global textile market size was valued at USD 993.6 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030. Increasing demand for apparel from the fashion industry coupled with the growth of e-commerce platforms is expected to drive the market growth over the forecast period. The industry works on three major principles, designing, production, and distribution of different flexible materials, such as yarn and clothing. Several processes, such as knitting, crocheting, weaving, and others, are largely used to manufacture a wide range of finished and semi-finished goods in bedding, clothing, apparel, medical, and other accessories.

Gather more insights about the market drivers, restrains and growth of the Global Textile market

The U.S. is anticipated to be the largest market in the North America region for textiles. It is one of the largest producers, raw cotton exporters, and top raw textile importers. Fashion is the largest application segment in the region owing to the fast-changing fashion trends due to increasing online fast fashion companies. There has been an increasing trend of smart textiles in the market that use optical fibers, metals, and various conductive polymers to interact with the environment. These help in detecting and reacting to various physical stimuli, such as mechanical, thermal, or chemical & electric sources. This is expected to propel the growth of the technical application segment in the market during the forecast period. Increasing consumer preference for sustainable products is forcing major companies to focus on restructuring their business and investing in manufacturing practices that target sustainable products.

For instance, DuPont’s plant-based faux fur for performance fashion apparel and Eastman’s usage of discarded carpet into new material is expected to open new growth avenues over the forecast period. The recent outbreak of coronavirus disease had acted as a restraint to the global market. Global trade restrictions due to disrupted supply chain and decline in textile product consumption amid lockdown had further negatively impacted the market. However, the market is expected to witness a strong recovery during the forecast period due to government support and increasing public awareness about effective precautionary measures.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

Floor Covering Market - The global floor covering market size was valued at USD 364.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2028. The market is majorly driven by rising urbanization and the expansion of ultramodern workspaces. The worldwide market for floor covering will be pushed in the near future by the construction industry's expansion and increased infrastructure investment.

Composite Adhesive Market - The global composite adhesive market size was valued at USD 3.35 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The penetration of lightweight composites in different industries like aerospace & defense, electric vehicles (EVs), sports, and others is expected to propel the demand for the product during the forecast period.

Textile Market Segmentation

Grand View Research has segmented the global Textile market on the basis of product, application, distribution, and region:

Textile Raw Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

Cotton

Chemical

Wool

Silk

Others

Textile Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

Natural Fibers

Polyester

Nylon

Others

Textile Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

Household

Bedding

Kitchen

Upholstery

Towel

Others

Technical

Construction

Transport

Medical

Protective

Others

Fashion & Clothing

Apparel

Ties & Clothing accessories

Handbags

Others

Others

Textile Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

North America

Europe

Asia Pacific

Central & South America

Middle East & Africa (MEA)

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