Global Textile Fabrics Market: Information by Fabric Type (Cotton, Polycottons, and Polyester), Polycottons (65/35%, 50/50%, 35/65%, 40/60%, 10/90%, and others), Application (T-shirts, Sportwear, Outdoor Clothing, and Performance Wear), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)?Forecast till 2025
Textile fabric is a cloth that is either woven, knitted, or bonded by using natural or man-made yarns, threads, and fibers. It is generally bifurcated into plant-based fabrics and synthetic fabrics. Plant-based fabrics consist of cotton, wool, silk, and hemp. Synthetic fabrics consist of polyester, viscose, rayon, and polyamide. The major factors driving the growth of the global market for textile fabrics are increasing demand for sportswear and performance wear and expanding textile industry in the emerging economies of Asia-Pacific. The growing awareness regarding the health benefits of fitness activities in developed and developing countries plays a vital role in the growth of the global market. However, the fluctuations in the cotton prices, the import-export scenario of trading countries, and volatile currency exchange rates are expected to hamper the market growth in the years to follow. Nevertheless, the growing awareness regarding the environmental impacts of synthetic cotton farming, the textile companies are shifting toward organic cotton, which is likely to create lucrative opportunities for the textile fabric manufacturers during the review period. The Global Textile Fabrics Market is projected to expand at 5.67% CAGR to attain USD 398.81 Billion by the year 2025 during the forecast period.
Based on fabric type, the global textile fabrics market has been segmented into cotton, polycottons, and polyester. Among these fabric types, the cotton segment held the largest market share of 52.50% in 2018. The high demand for cotton fabric in the manufacturing of t-shirts is expected to be the key factor favoring the growth of the segment during the forecast period. The polycottons (polyester-cotton blends) segment is further categorized into 65/35%, 50/50%, 35/65%, 40/60%, 10/90%, and others. The 65/35% polycotton blend segment held the largest market share in 2018 owing to its use in the manufacturing of a wide range of garments. On the basis of application, the global textile fabrics market has been divided into aerospace & defense, energy, industrial gas turbine, automotive, oil & gas, and others. The t-shirt segment held the largest market share of over 53.00% in 2018. This is mainly due to vast use of leisure wears in daily wear category. Also, the current trend of personalized t-shirts as per the demand has favored the high use of t-shirts at present.
The global textile fabrics market has been studied with respect to five key regional markets, namely North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific market accounted for the largest market share of 44.00% in 2018 and is projected to the grow at the highest CAGR of 6.18% during the review period. This is mainly attributed to the high demand for apparel and sportswear clothing in the region. Also, the easy availability of raw material, low labor costs, and growing concern for health fitness are further expected to augment the overall market growth. China is the major growth contributor in this market followed by India, Vietnam, Bangladesh, ASEAN, Taiwan, and Thailand. The European market for textile fabrics accounted for the second-largest market share in 2018, which is primarily due to the robust fashion and sports apparel industry in the region. The North American market is estimated to register a healthy CAGR of 5.87%. The US is the leading market for textile fabrics in this region owing to the increasing consumption of cotton fabric in T-shirts and outdoor clothing. Also, it is one of the major markets for textile raw materials, fabrics, apparel, yarns, and home furnishings, apart from other textile finished applications.
The prominent players in the global textile fabrics market are Antex Knitting Mills (US), Coville (US), Arvind Limited (India), Loyal Textile Mills Ltd (India), Reliance Industries Limited (India), YI CHUN TEXTILE LTD (China), Shahlon Group (India), Bombay Rayon Fashions Limited (India), Weiqiao Textile Company Limited (China), China Textiles (Shenzhen) Co.,Ltd (China), HuaFang Group (China), COFCO -CHINATEX (China), Wolfin Textiles Ltd (UK), Lauffenm?hle (Germany), Klopman International S.r.l. (Italy), Whaleys (Bradford) LTD (UK), Toray Textiles Europe Limited (UK), and Premier Textiles Limited (UK), among others. Some of the key strategies followed by the players operating in the global textile fabrics market are expansion, acquisitions, investments, joint ventures, agreements, and collaborations.