Textile manufacturing market 2023-2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Jan. 17, 2023 /PRNewswire/ — According to Technavio, the global textile manufacturing market size is estimated to grow by USD 351.51 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 4.8{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d} during the forecast period. APAC will account for 76{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d} of the market’s growth during the forecast period.

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Global textile manufacturing market- Five forces
The global textile manufacturing market is fragmented, and the five forces analysis covers–

• Bargaining Power of Buyers

• The threat of New Entrants

• Threat of Rivalry

• Bargaining Power of Suppliers

• Threat of Substitutes

• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Global textile manufacturing market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global textile manufacturing market – Segmentation assessment

Segment overview
Technavio has segmented the market based on 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).

• The natural fibers segment will grow at the highest rate during the forecast period. Natural fibers are derived from plant and animal sources. The main categories of natural fibres are cotton, silk, linen, wool, hemp, and jute. These fibres are widely used to create clothes, accessories, furnishings, building materials, medical treatments, and automobile interiors. The market for natural fibres will grow with the rise of end-user industries, which will boost market growth during the forecast period.

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Geography overview
By geography, the textile manufacturing market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global textile manufacturing market.

• APAC will account for 76{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d} of the market’s growth during the forecast period. The textile industry in APAC is boosted by the presence of numerous textile producers in China, India, Japan, Pakistan, South Korea, and Bangladesh. China has been the world’s largest consumer of textiles due to the increasing demand for textiles in the fashion and home furnishings industries. Hence it is expected that the expanding population, notably in China and India, will increase demand for textile manufacturing during the forecast period.

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Global textile manufacturing market  – Market dynamics

Key factor driving market growth

• The premiumization through well-positioned brands is notably driving market growth. 

• The market for high-end clothing and accessories, which includes tops, dresses, jackets, coats, jeans, and suits, is currently growing and is expected to do so in the upcoming years.

• Manufacturers of textiles in this industry have begun to concentrate on increasing their position in the luxury market to cover the entire range of garments.

• These factors are driving the demand for high-quality clothing, which will support the expansion of the global textile manufacturing market during the forecast period.

Leading trends influencing the market 

• Increasing demand for textiles in the automotive industry is the primary trend in the market. 

• The automotive industry includes the production of automotive parts such as composites, sound insulation, and vibration control used in interiors. Similarly, technical fabrics are used for seat belts, carpets, rugs, upholstery, and composite interior fixtures. Engine parts like hoses, belts, air filters, and fluid filters all use technical fabrics. This leads to an increase in the demand for textile in automotive industry which will further increase the production of textile around the world during the forecast period.

Major challenges hindering market growth

• Fluctuating crude oil prices are the major challenge in the market.

• Textile is categorized into two types, natural and synthetic. Polymers obtained from petroleum are used to create synthetic fabrics.

• Fluctuating crude oil prices have prompted suppliers to lower their pricing and encouraged vendors to take a variety of cost-cutting strategies, like reducing discretionary operational costs.

• Oil is the primary raw material used in the manufacturing of these polymers, hence their prices are influenced by oil prices. Changes in the market price of crude oil have a direct impact on polymer prices.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this textile manufacturing market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the textile manufacturing market between 2023 and 2027

• Precise estimation of the size of the textile manufacturing market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the textile manufacturing market across APAC, North America, Europe, South America, and the Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of textile manufacturing market vendors

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Table of Contents

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

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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