Report Code : A17123
Increase in the requirement for lightweight and multifunctional fabric in the sportswear and high penetration rate of social media, are key factors driving the textile fabrics market during the forecast period
Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research
According to a new report published by Allied Market Research, titled, “Textile Fabrics Market," The textile fabrics market size was valued at $498.0 billion in 2021, and is estimated to reach $942.8 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
Textiles fabrics are manufactured by processing, weaving or knitting these materials. These can make typically manufactured goods, such as clothing, accessories, gloves, hats, and blankets, industrial, natural fur, agricultural or medical fabric. The increased use of textile fabrics in fashion and apparel is a key factor driving the growth of the textile fabric market during the forecast period.
Textile applications include architecture, automotive, fashion, home textiles, interior, and furnishing. Performance textiles are textiles that provide additional functions such as repellency, resistance or protection, and can perform a single multiple functions, including warming up, cooling down, moisture wicking, skin care, absorbing or indicating UV, insulating, increasing blood flow, absorbing odors, being antibacterial, and others.
The surge in demand for sports apparel is one of the key drivers supporting the textile fabrics market growth. Sportwear textiles are used to make durable clothing for athletes' performance training, such as jerseys, team uniforms, and other sports equipment. In the meantime, the development and usage of highly functional materials in athletic and outdoor leisure gear has been prompted by the growing attention paid to the safety and performance of end users. These textile fabrics market trends create high market value for textile fabrics.
The textile fabric market analysis is on the basis of fabric type, application, and region.
On the basis of fabric type, the polyster segment dominated the global textile fabric market in terms of revenue, in 2021, and is expected to maintain its dominance during the forecast period owing to its increase in demand in textile industry as it offers many advantages such as versatile, hypoallergenic, considerate, low maintenance, better breathe, clinging-free, comfortable, no pilling, no distortion in shape, and being eco-friendly.
On the basis of application, the fashion & clothing segment dominated the global textile fabric market in terms of revenue, in 2021, and is expected to maintain its dominance during the forecast period owing to adaption of modern living standards and rapidly evolving fashion trends.
On the basis of region, Asia-Pacific dominated the global textile fabric market in terms of revenue, in 2021, owing to high penetration of organized retail, favorable demographics, rise in disposable income levels, and favorable government policies is expected to increase the Asia Pacific textile fabrics market share over the forecast period.
The major players operating in the textile fabrics industry include DuPont, Wolfin Textile Ltd., Coville Inc, China textile co. ltd, Klopman International, Loyal Textile mills ltd, Premier Textiles, Weiqiao Textile Co. Ltd, Whaley Bradford Ltd, and Yi Chun Textile Ltd. These players have adopted product launch, acquisition, and business expansion as their key strategies to increase their market shares.
KEY FINDINGS OF THE STUDY
IMPACT OF COVID-19 ON THE GLOBAL TEXTILE FABRICS MARKET
The COVID-19 crisis has affected the chemical industry supply chain to a major extent; thus, having a major impact on raw material procurement. The above factors have impacted the growth of the technical textile market. This pandemic resulted in a sudden increase in demand for medical apparels such as gown, mask, and others, which positively affected the demand for technical textiles. As a result, the textile fabrics market has witnessed significant growth during to the COVID-19.
In response to the COVID-19 pandemic, the textile manufacturers around the globe expanded their production capacity and invested in equipment to manufacture healthcare essentials. Furthermore, demand for nonwoven materials and disposable hospital supplies has increased during the COVID 19 pandemic owing to increased number of cases and need for healthcare staff.
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Textile Fabrics Market by Fabric Type (Cotton, Polyster, Polyamide, Others), by Application (Fashion & Clothing, Household, Technical): Global Opportunity Analysis and Industry Forecast, 2021-2031
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