Textile Fabrics Market 2023 Receives Rapid Boost in Economy due to High Emerging Demands to 2030

Market Highlights

The Textile Fabrics Market is projected to register a healthy CAGR of 7.68% and is estimated to attain a market value of USD 398.81 Billion by the end of 2030.

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The major factors favoring this growth trajectory of the global textile fabrics market the surging demand for sportswear and performance clothing across the globe; and robust growth of the textile industry in the economies of Asia-Pacific namely, India, China, Indonesia, Malaysia, Thailand, and Myanmar. Also, increasing demand for customized t-shirts is likely to further propel the global market growth. The growing consumer shift from non-organic cotton to organic cotton is expected to create lucrative opportunities for the market players. However, the fluctuating prices of cotton and the risks associated with cotton farming are likely to diminish the overall market growth.

Polyester is the preferred fabric for manufacturing sportswear owing to its lightweight, low cost, high durability, quick-drying, high wind and water resistance, and dye fastness. Furthermore, polyester can regulate body temperature, delay exhaustion, and enhance muscle performance. It has excellent dimensional stability and offers high resistance to dirt, mold, alkali, and most common organic solvents. It is light in weight, soft, and offers elasticity—the required characteristics for sportswear. Polyester is used in the manufacturing of sportswear since the 1970s owing to its excellent physical properties. Moreover, the polyester filament fabrics can be applied with a hydrophilic coating. Thus, polyester-based fabrics with their hydrophobic core and hydrophilic coating help to wick moisture away from the skin. Sometimes, polyester is blended with cotton or other fabrics to increase breathability, maintain moisture management, and enhance durability. The major brands, such as Adidas, are gradually shifting toward recycled polyester to manufacture sportswear.

Segment Analysis

The Global Textile Fabrics Market has been segmented on the basis of fabric type, application, and region.

Based on fabric type, the market has been divided into cotton, polycottons, and polyester. The polycottons are further segmented into 65/35%, 50/50%, 35/65%, 40/60%, 10/90%, and others. Among the fabric type, cotton held the largest market share of more than 50% in 2018. This is primarily due to its wide use in the manufacturing of apparel and clothing on account of its ability to control moisture and comfort. It is hypoallergenic and weatherproof fabric with good durability. It is breathable and transmits moisture away from the body and also acts as an absorbent. Polycotton fabrics are cotton-polycottons fabrics available at low cost and exhibit high performance, easy-wash ability, and good colorfastness (ability to hold dye) of the fabric. Polyester is generally cheaper than cotton fibers and the two are blended to make the fabric more affordable as well as both breathable and sweat-resistant, with cotton absorbing sweat better and polyester having good wicking and quick-dry properties.

By application, the global textile fabrics market has been segmented into a t-shirt, sportswear, outdoor clothing, and performance wear. The t-shirt segment accounted for the largest market share in 2018. This is mainly attributed to the high use of t-shirts in the leisure wears or daily wear category. Also, the current trend of getting the t-shirts personalized as per the demand has favored the use of t-shirts at present. However, the sportswear segment is projected to grow at the highest CAGR of 6.14% during the forecast period. This is primarily due to the high demand for high-performance sports apparel. The sports apparel is gaining popularity in many developing countries such as China, India, and Brazil owing to the upcoming Olympics and FIFA World Cup coupled with increasing concern for health fitness.

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Regional Analysis

The Global Textile Fabrics Market is studied with respect to five key regions, namely Asia-Pacific, North America, Europe, the Middle East Africa, and Latin America. The proliferating textile and apparel industry in the emerging economies of Asia-Pacific is expected to augment the global market growth during the forecast period. The market for textile fabrics in Asia-Pacific is estimated to register the highest CAGR of 6.18%. This is attributed to the well-established textile industry in the regional market and the growing demand for sports and performance wears. Additionally, the easy availability of raw material, low labor costs, and excellent growth of the emerging economies such as China India, Vietnam, Bangladesh, ASEAN, Taiwan, and Thailand may favor the regional market growth.

The European market held the second-largest market share in 2018, which is attributed to the high use of the fashion and sports apparel in the region. The North American market is estimated to register a healthy CAGR of 5.87% wherein the US is the major contributor to the growth of the regional market. This is due to the increasing consumption of cotton fabric in T-shirts and outdoor clothing.

Market Players

MRFR recognizes the following companies as the Key Players in the Global Textile Fabrics Market— Antex Knitting Mills (US), Coville (US), Arvind Limited (India), Loyal Textile Mills Ltd (India), Reliance Industries Limited (India), YI CHUN TEXTILE LTD (China), Shahlon Group (India), Bombay Rayon Fashions Limited (India), Weiqiao Textile Company Limited (China), China Textiles (Shenzhen) Co.,Ltd (China), HuaFang Group (China), COFCO -CHINATEX (China), Wolfin Textiles Ltd (UK), Lauffenmühle (Germany), Klopman International S.r.l. (Italy), Whaleys (Bradford) LTD (UK), Toray Textiles Europe Limited (UK), and Premier Textiles Limited (UK), among others.

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Key Findings of the Study:

Global Textile Fabrics Market is projected to be valued at over USD 398.81 Billion by the end of 2025 with a CAGR of over 5.67% during the forecast period of 2019–2025

Asia-Pacific dominated the global market with a share of over 40% owing to the increasing demand for textile fabrics in the well-established fashion apparel industry

The cotton fabric segment held more than 50% share of the global market in 2018 and is expected to be valued at over USD 200 Billion by the end of 2025

T-shirts segment dominated the market for textile fabric by application, with over 50% market share in 2018

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