Press Release
Press Release
The textile market is driven by the rising demand for protective clothing in the medical industry, which is very important as it hampers the diffusion of viruses and infections. For instance, the surgical gowns worn by the surgeons or nurses, helps them maintain a sterile surgical field essential for protecting the patient from infection. Over the forecast period, the thriving fashion and clothing industry in the emerging economies of the world is likely to aid the global textile industry.
Asia Pacific is likely to account for a significant share in the market, owing to the thriving technical textiles industry in India, China, Maldives, Bangladesh, Vietnam, and Japan, among others. Technical textiles include the textiles used in cars, mattress covers, bags, tents, and parachutes, among others. Over the next decade, the technical textile in the region is anticipated to grow by more than 20%, which will augment the growth of the global textile industry.
In August 2021, Rieter Holding Ltd. (SWX: RIEN), a leading producer of textile machinery, announced the acquisition of three businesses from Saurer Intelligent Technology Co. Ltd. (SHA: 600545). With this acquisition, Rieter Holding Ltd. will complete the offering of ring and compact spinning systems by acquiring the Schlafhorst automatic winder business. 300 Euros is estimated to be the purchase price of the businesses. Meanwhile, Arvind Ltd. (NSE: ARVIND), in August 2021, announced the partnership with Textile Genesis™ for block chain-based track and traceability initiative.
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The major players in the global textile industry are BSL Limited, Lu Thai Textile Co., Ltd., Paramount Textile Limited, Paulo de Oliveira, S.A., Successori Reda SpA, Shandong Jining Ruyi Woolen Textile Co., Ltd., and Sinopec Yizheng Chemical Fibre LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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