Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Textile Market Size

The global textile market attained a value of USD 987.95 billion in 2023. The market is expected to grow at a CAGR of 3.6% between 2024 and 2032, reaching almost USD 1,354.27 billion by 2032.

 

Key Takeaways

  • Asia is a major producer of silk globally, accounting for 90% of mulberry and almost 100% of non-mulberry silk.
  • The textile sector constitutes about 2% of the global GDP every year.
  • Australia produces about a quarter of the world’s wool annually.

 

Consumers are looking for unique, personalised products that align with their ideas, preferences, and values. As a result, the textile sector is adopting trends such as customisation and personalisation. Innovative technological advancements such as 3D printing, digital textile printing, and computer-aided design (CAD) are allowing manufacturers to produce fabrics upon demand, according to customer requirements. This further minimizes the waste produced by the production units.

 

Some of the factors driving the textile market growth are the growing fashion clothing market, demand for customised products, sustainability in production processes, and adoption of technical textiles.

 

Textile Market Report Snapshots

Textile Market Size

Textile Market Share

Textile Market Trends

Textile Market Regional Analysis

Textile Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global textile market attained a value of nearly USD 987.95 billion.

The market is expected to grow at a CAGR of 3.6% between 2024 and 2032.

The market is estimated to witness healthy growth during 2024-2032 to reach around USD 1,354.27 billion by 2032.

Textile is a flexible material composed of a network of natural or artificial fibres, called yarn.

Prato is considered to be one of the largest industrial districts in Italy, the largest textile centre in Europe, and an important centre for the production of woolen yarns and fabrics, globally.

The major drivers of the market are the expansion of major textile market players in emerging economies, the rising demand for technical textiles, and a growing fast-fashion sector.

The key trends propelling the market growth include rising applications of textiles in various sectors and the growing fashion and clothing sector.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different product types included in the market report are natural fibres, polyester, and nylon, among others.

The major players in the market are BSL Limited, Lu Thai Textile Co., Ltd., Paulo de Oliveira, S.A., Successori Reda SpA, Shandong Ruyi Woolen Garment Group Co., Ltd., and Toray Industries, Inc., among others.

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