According to IMARC Group’s latest report, titled “Textile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”,the global textile market size reached US$ 936.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,217.1 Billion by 2027, exhibiting a growth rate (CAGR) of 4.37% during 2022-2027.

A textile is a ductile material that is fabricated from a web of various synthetic or natural fibers, such as cotton, silk, jute, denim, flannel, hemp, nylon, polyester, rayon, and spandex. These raw fabrics are composed with the usage of several methods, including knitting, crocheting, and weaving. This, in turn, manufactures a range of finished and semi-finished goods, such as clothing, apparel, bedding, medical, and other accessories. At present, certain textiles possess favorable qualities, including excellent resistance to acids, alkalis, temperatures, and dampness; therefore, they are used in the construction of diverse infrastructures, such as bridges, buildings, roads, tunnels, and dams.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

The global textile market is primarily driven by the rising expenditure capacities of consumers, increasing demand for several clothing apparel from the fashion sector to enhance the overall physical appearance. Moreover, the advent of smart textiles that detects and reacts to mechanical, thermal, chemical, and electrical stimuli by interacting with optical fibers, metals, and different conductive polymers is favoring the market growth. Additionally, the growing environmental concerns amongst individuals are encouraging manufacturers to adopt sustainable and natural fibers, including cotton, linen, silk, hemp, and more, which is providing remunerative opportunities for the market. Besides this, the escalating need for textiles in the healthcare industry for soft tissue implantation, hard tissue implantation, sutures, and strategic collaborations amongst key players to uptake discarded clothes, rugs, and carpets as textiles to compose finished goods are strengthening the product demand.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

The report has categorized the market based on raw material, product and application.

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Key highlights of the report:

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Related Reports by IMARC Group:

Bath and Shower Products Market: https://bit.ly/3ExE2ie

Perfume Market: https://bit.ly/3GhIP8N

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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