Textile Manufacturing Market Characteristics
The textile manufacturing market consists of sales of textiles by entities (organizations, sole traders and partnerships) that produce fibre, yarn, threads, carpets, rugs, linens and other textile products.
Competitive Landscape of the Textile Manufacturing Market
Major players in the global textile manufacturing market include Toray Industries Inc., Mohawk Industries, Indorama Corporation Pte. Ltd., Beaulieu International Group, Weiqiao Textile Company Limited.
Textile Manufacturing Market Size
The textile manufacturing market size is expected to reach $1 trillion by 2022, significantly growing at a CAGR of around 7% during the forecast period. The growth in the textile manufacturing market is due to high demand for ready to wear apparel products from developed countries and developing countries such as China and India, high demand for fabrics.
However, the market for textile manufacturing is expected to face certain restraints from several factors such as lack of available resources, increasing inventory levels, counterfeit products and reduction in free trade.
Textile Manufacturing Market Segmentation
The global textile manufacturing market is further segmented based on type and geography.
By Type - The textile manufacturing market is segmented into fabrics manufacturing, yarn, fibre and thread manufacturing, home furnishings and floor coverings manufacturing.
By Geography - The global textile manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific textile manufacturing market accounts the largest share in the global textile manufacturing market.
Trends in the Textile Manufacturing Market
Robotics and automation in textile units, relocation of production units are the major trends witnessed in the global textile manufacturing market.
Potential Opportunities in the Textile Manufacturing Market
With emerging markets growth, technology development, the scope and potential for the global textile manufacturing market is expected to significantly rise in the forecast period.