ID: MRFR/CnM/6759-CR | October 2019 | Region: Global | 174 pages
Global Textile Fabrics Market is expected to acquire a market value of USD 398.81 Billion while exhibiting a CAGR of 5.67% by 2025, asserts Market Research Future (MRFR).
The textile fabrics market growth is anticipated to rise significantly due to the positive growth in the healthcare sector during the COVID-19 era. The demand for woven fabric is booming due to the tremendous rise in the need for PPEs among the medical staff and as well as the non-medical staff, which can offer a lucrative opportunity to the textile fabrics market manufacturers. However, the availability of raw material in this scenario is likely to pose a challenge due to the prevailing trade war between China and the US and also due to the uncertain situation of resources. The supply-demand has been severely impacted, which has brought a significant impact on the textile fabrics market value.
Tremendous Rise in the Demand for Apparels to Boost the Market Growth
As per the textile fabrics market forecast by MRFR, the tremendous rise in the requirement for apparel, especially in the growth-centric nations such as; India, China, Japan, Mexico, and others, is likely to be a crucial factor that is anticipated to augment the trade. Rapid urbanization and the growing disposable income is recognized to be another salient cause that can propel the industry. Besides, the growing exposure to social media and the rising popularity of e-commerce, influencers, and the social media business is likely to surge the demand for apparel significantly, thereby driving the textile fabrics market growth in the coming period. In addition, the growing technological development in new upholstery products derived from coated fabrics is projected to augment the textile fabrics market size.
Increasing Demand for Lightweight and Multifunctional Fabric to Offer Significant Market Opportunities
The rise in demand for lightweight and multifunctional fabric in sportswear is expected to be a significant factor that can grow the textile fabrics market share significantly in the assessment term. In addition, the exponential rise in the demand for PPEs is likely to be another cause that is expected to bolster the textile fabrics market size, notably.
Fluctuating Cotton Prices to Hamper the Market Expansion
As per the textile fabrics market analysis by MRFR, the fluctuations in cotton prices and the prevailing import-export scenario of trading countries are expected to hamper the market growth.
Volatile Currency Exchange Rates to Pose a Challenge to the Market Growth
The volatility of currency exchange rates is anticipated to hamper the import-export chain, which is expected to pose a significant challenge during the assessment term.
Cumulative Market Growth Analysis
MRFR has assessed the global market for textile fabrics and concluded that the market is anticipated to witness significant growth. The growth of the market can be attributed to the growing demand for apparel, especially from developing countries. Besides, the increasing demand for PPEs across the globe provided lucrative opportunities to the manufacturers.
In the application segment of the global market for textile fabrics, the t-shirt segment is expected to lead the market during the assessment term. The segment had acquired the largest market share of above 53% in 2018. The growth of the segment can be attributed to the growing demand for t-shirts for daily use and the rising preference for personalized t-shirts.
By Fabric Type
In the fabric type of the global market for textile fabrics, the cotton segment is anticipated to lead the market during the forecast period. The segment had procured a market share of 52.50% in 2018. The growth of the segment can be attributed to the growing demand for the fabric to manufacture t-shirts.
APAC to Flourish at a CAGR 6.18% during Analysis Timeframe
As per the textile fabrics market analysis conducted by MRFR, APAC is anticipated to acquire the largest market share while witnessing a CAGR of 6.18% during the review period. The expansion of the region can be attributed to the increasing demand for apparel and sportswear. The availability of raw materials, low labor cost, and rising disposable income are expected to play a salient role in growing the market in the region. The rising popularity of e-commerce and the growing number of influencers on Social media is also anticipated to make notable contributions in amassing the demand for apparel, thereby benefitting the industry. Developing countries such as India and China are likely to play a crucial role in augmenting the market in the review period.
Europe to Witness Significant Rise Due to the Contribution of the Fashion Industry
Europe is expected to procure the second largest market share during the forecast period owing to the presence of various fashion hubs in the region that produce notable demand for fabrics. The company of robust fashion industry and the sports apparel sector is projected to play a salient role augmenting the market in the forecast period. Countries such as France, Italy, the UK, Spain, Sweden, Spain, and Belgium are anticipated to make a salient contribution in strengthening the market in the region.
North America to Expand at a CAGR of 5.87%
North America is anticipated to expand at a CAGR of 5.87% during the forecast period. The growing demand for fabric t-shirts and outdoor clothing are expected to make a significant contribution to developing the regional market. Besides, the region is recognized to be the hub for fabrics, raw materials, apparel, yarns, and home furnishings. Among all, the US is expected to make the most significant contribution in developing the market in the region.
The global market for renewable chemicals is highly fragmented due to the growing penetration of local manufacturers in developing countries such as; India and China. The rise in partnerships, mergers, and acquisitions are likely to make the industry more competitive. Besides, the growing number of new players entering the market is anticipated to fuel the competition in the market in the assessment timeframe.
Global Textile Fabrics Market, By Fabric Type
Global Textile Fabrics Market, By Application
Frequently Asked Questions (FAQ) :
The market is expected to exhibit a strong 5.6% CAGR over the forecast period from 2019 to 2024.
The growing textiles industry in Asia Pacific is the major driver for the market.
Asia Pacific accounts for the largest share in the market.
Leading players in the textile fibers market include Antex Knitting Mills, Coville, and Arvind Ltd., among others.