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This report extensively covers market segmentation by type (natural fibers, polyesters, nylons, and others), application (fashion, technical, household, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).It also includes an in-depth analysis of drivers (factors influencing market growth), trends (emerging patterns or shifts in consumer behavior), and challenges (barriers or obstacles faced by the industry).
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Textile Manufacturing Market. One of the major companies in the market include:
Industria de Diseno Textil SA - The company offers textile manufacturing for various international brands such as Zara. This segment focuses on offering fashion industry products such as clothing, footwear and accessories and Zara home sale fashionable household products.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
B.C. Corp., BSL Ltd., China Petrochemical Corp., China Textiles (Shenzhen) Co. Ltd., Donear Industries Ltd., Far Eastern New Century Corp., Grasim Industries Ltd., Hyosung TNC, Industria de Diseno Textil SA, JCT Ltd., Koch Industries Inc., Li & Fung Ltd., Lu Thai Textile Co. Ltd., Modern Threads (India) Ltd., Nisshinbo Holdings Inc., Paramount Textile Mills (P) Ltd., Paulo de Oliveira, PVH Corp., Successori Reda SpA, and Toray Industries Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The premiumization through well-positioned brands is notably driving the market growth. The market offers a wide variety of textile products. However, consumers are currently gravitating toward high-end premium brands. Most buyers often connect status, quality, and fashion with luxury brands. As a result, consumers prefer recognizable textile brands and are willing to pay more for them.
This is a key factor for companies serving premium and aspirational customer segments. The premium fashion industry, which includes tops, dresses, jackets, coats, jeans, and suits, is currently growing and is expected to continue to grow in the coming years. Textile manufacturers in this sector have started to focus on expanding their presence in the luxury segment to cover the entire clothing range from top to bottom. These factors are driving the demand for high-quality garments, which will fuel the growth of the global textile manufacturing market during the forecast period.
Significant Textile Manufacturing Market Trend
Increasing demand for textiles in the automotive industry is the primary trend in the market. Currently, the largest user of technical textiles is the automotive industry. It is the key application segment of the market. They are used in the production of automotive parts such as composites, sound insulation, and vibration control used in interiors. Technical textiles are used as carpets, rugs, upholstery, composite interior fittings, seat belts, etc. Nylon, polyester, wool, and polypropylene are used to manufacture seat covers, seatbelts, and carpets, among others. These synthetic fibers exhibit high abrasion, superior strength, low extensibility, and excellent UV resistance. Technical textiles are also used in engine components such as hoses, belts, air filters, and fluid filters.
Hence, the rising manufacturing of vehicles across the world enhances the use of textiles in the interiors of vehicles. European countries have large automotive manufacturing hubs, and, therefore, the high production of vehicles will increase the demand for textiles during the forecast period. Such factors will further drive the growth of the global clothing industry during the forecast period.
Major Textile Manufacturing Market Challenge
Fluctuating crude oil prices are the major challenge in the market. Textiles are classified as natural and synthetic. Synthetic textiles are made from polymers derived from petroleum through a polymerization process. The prices of these polymers depend on oil prices because oil is the main raw material for polymer production. Prices for polymers are directly impacted by changes in crude oil prices on the market. Crude oil prices have fluctuated continuously over the past decade. Such fluctuations subsequently affect the functioning of the global textile manufacturing market.
Fluctuating crude oil prices have compelled vendors to adopt various cost-cutting measures, such as the reduction of discretionary operational expenses, and forced suppliers to reduce their costs. Such factors will hamper the growth of the global clothing industry during the forecast period.
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The market share growth of the natural fibers segment will be significant during the forecast period. Natural fibres are derived from plant and animal sources. Cotton, silk, linen, wool, hemp, and jute are the major types of natural fibers. These fibers are used extensively to produce garments, apparel, construction materials, medical dressings, and automotive interiors, among others. With the rise in end-user industries, the market for natural fibers will grow, which in turn will increase the market growth during the forecast period.
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The natural fibers segment was valued at USD 449.39 billion in 2017 and continued to grow until 2021. Natural fibers are highly flexible and resilient, suitable for all climatic conditions, and widely used for manufacturing textiles. Mexico is among the leading producers of cotton, wool, and silk and has favourable climatic conditions for farming. Such wide applications and high production of natural fibers, such as cotton, wool, and silk will drive the growth of this segment during the forecast period.
The Textile Manufacturing Market is segmented into Fashion, Technical, Household and other sub-segment.
APAC is estimated to contribute 76% during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.The presence of many textile manufacturers in China, India, Japan, Pakistan, South Korea, and Bangladesh is benefiting 'APAC's clothing industry, given the availability of low-cost labor, a rural population that depends on farming, and favourable climatic conditions. China has been the leading textile consumer globally in 2022, as the demand for textiles in the fashion industry and household applications is high. Technical textiles and smart textiles are gaining prominence in China. For instance, the Chinese government has announced incentives for using construction fabrics in building and construction work to reduce greenhouse gas emissions.Such initiatives and a growing population, particularly in China and India, are expected to boost the demand for textile manufacturing during the forecast period.
The COVID-19 outbreak hampered market growth during 2020 and 2021. However, the market is growing, owing to the continued innovation across the textile industry in the region. For instance, in January 2021, Grasim and Nanollose Ltd. filed a joint patent application for a high-tenacity lyocell fiber made from bacterial cellulose. Such developments will supplement the growth of the market in the region during the forecast period.
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Textile Manufacturing Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2022 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.8% |
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Market growth 2023-2027 |
$ 351.51 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.6 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 76% |
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Key consumer countries |
US, China, India, Pakistan, and Brazil |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
B.C. Corp., BSL Ltd., China Petrochemical Corp., China Textiles (Shenzhen) Co. Ltd., Donear Industries Ltd., Far Eastern New Century Corp., Grasim Industries Ltd., Hyosung TNC, Industria de Diseno Textil SA, JCT Ltd., Koch Industries Inc., Li & Fung Ltd., Lu Thai Textile Co. Ltd., Modern Threads (India) Ltd., Nisshinbo Holdings Inc., Paramount Textile Mills (P) Ltd., Paulo de Oliveira, PVH Corp., Successori Reda SpA, and Toray Industries Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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