Textile Market Size & Share, by Raw Material (Cotton, Chemical, Wool, Silk); Product (Natural Fibers, Polyester, Nylon); Application (Household, Technical, Fashion & Clothing) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6181
  • Published Date: Jun 13, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Textile Market size was over USD 978 Billion in 2023 and is anticipated to reach USD 2.4 Trillion by the end of 2036, growing at around 7.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of textile is assessed at USD 1055 Billion.

The reason behind this boost is impelled by the increasing e-commerce and the slated demand for garments in the fashion sector. According to a report by Forbes in 2024, more than 59% of the global population now have access to the Internet, and retail e-commerce was propelled to cross about USD 4 trillion in 2021.


Textile Market Overview
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Textile Sector: Growth Drivers and Challenges

Growth Drivers 

  • Expanding global population - As the population is constantly increasing, there is a high demand for textiles and clothing such as casual & women's, and fashionable clothing for all age groups due to which purchasing has also increased. According to a report by the UN Trade & Development in 2022, the global population in developing countries increased to 83% in 2022 from 66% in 1950 and is expected to witness an 86% gain by 2050.
     
  • Ever-changing consumer preference - Consumers now seeks sustainability, and comfort in their fashion choices which has fueled the demand for textiles. There is a surge in functional textiles, organic materials, and eco-friendly fabrics. According to a report by IFOAM in 2024, the global area for organic farming surpassed 96 million hectares in 2022.
     
  • Growing urbanization - Urbanization has been considered one of the major key driving forces for the textile industry owing to the increasing need for textile products such as home textiles, clothing, and many more. According to a report in 2024, about 44% of the world's population lives in cities, about 43% lives in suburbs and towns, and around 13% in rural areas in 2020. Additionally, urbanization has also led to an increasing focus on aesthetics and design, which has created a surge in the market demand for textile solutions that are not only functional but also visually appealing.
     
  • Increase in disposable income- There has been a growth in disposable income which is attributed to the growing need for comfort in residential buildings, healthcare, automobiles, and many more. According to a report, by the Office for National Statistics in 2023, when compared to the gross disposable household income (GDHI) of 2020, it increased by 3.6% in 2021 in the UK. Moreover, there has been growth in residential housing which fuels the demand for this sector.

Challenges

  • Growing industrial waste- One of the primary causes of the increased number of laws and regulations controlling the manufacture of textile items is the availability of uncontrolled industrial waste. This problem is especially common in developing countries that are still undergoing industrialization. One of the biggest factors preventing the business from growing faster is the build-up of improperly handled industrial waste, which can harm the ecosystem nearby.

    Intense competition- With a large number of suppliers and manufacturers across the globe, the textile industry is quite competitive. Price pressure and reduced profit margins can result from intense competition, particularly for commoditized textile items.

Textile Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

7.9%

Base Year Market Size (2023)

USD 978 Billion

Forecast Year Market Size (2036)

USD 2.4 Trillion

Regional Scope

  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • North America (U.S., and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Textile Segmentation

Raw Material (Cotton, Chemical, Wool, Silk)

Cotton segment is set to account for textile market share of around 40% by 2036 and impacted by its properties such as color retention, absorption, high strength, and many more. Moreover, the increase in home furnishing shopping, smart furniture, and renovation has also increased the market value for the textile sector globally.

Furthermore, according to a report by USDA Foreign Agricultural Services in 2024, worldwide cotton usage increased from 3.5 million to 116.9 million which is the highest in the last 4 years. In addition, consumers also prefer natural fibers such as cotton, wool, silk, and many more credited to their environmental benefits.

In addition, the textile market has undergone technical advancements that have improved the fabric quality, textures, and knitting, to match the aesthetic demand of the consumers globally.

Product (Natural Fibers, Polyester, Nylon)

Natural fibers segment in the textile market is set to cross USD 70 Billion by 2036, owing to its demand in the apparel and fashion industry driven by its qualities such as biodegradability, comfort, breathability, and others, which act as a growth driver for the growing demand for cotton in the textile revenue share.

According to a report in 2022, the apparel industry was expected to increase by 18% of the current prices in 2021. Additionally, nylon is also used in home furnishing on account of its high moisture-absorbing, elastic, and resilience properties which is a better substitute for silk-based products such as flak vests, parachutes, sticking, and many more.

Our in-depth analysis of the global market includes the following segments:

          Raw Material

  • Cotton
  • Chemical
  • Wool
  • Silk

          Product

  • Natural Fibers
  • Polyester
  • Nylon

          Application

  • Household
  • Technical
  • Fashion & Clothing

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Textile Industry - Regional Synopsis

APAC Market Statistics

Asia Pacific textile market is set to capture revenue share of over 52% by 2036. The landscape's substantial growth in the region is expected due to the surge in population which required a huge amount of clothing, e-commerce apparel, and several related accessories in this developing economy. According to a report in 2024, Asia's population growth rate is the 4th highest with a rate of about 0.66% in 2024.

Attributed to the growth in the fashion sector in Japan, the demand for clothing is also increasing. According to a report by UNIQLO in 2024, store sales increased by more than 18% which includes online sales year on year.

In China there is an easy availability of silk yarn and raw silk as China is the largest producer in the world. According to a report in 2023, China produced about 70% of raw silk and silkworm cocoons globally.

North America Market Analysis

The North American region will also encounter a huge influence on the textile market share during the forecast period will account for the second position attributed to the increasing population of this region. According to the UN-Habitat, it is predicted that the urban population in APAC is projected to increase by 50% by 2050.

The growing export of clothing and textiles in the United States is expected to boost the landscape in this region. According to a report in 2022, the export of apparel and textiles in the U.S. increases by 13% every year.

In Cananda, there has been an increase in the construction sector in the residential, commercial, and manufacturing industries. According to a report in 2024, the industrial space in Canada increased t0 4.3% in 2023, which is about 16 million sq. ft of new space.

Research Nester
Textile Market Regional
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Companies Dominating the Textile Landscape

    Most of these companies are continuously collaborating, expanding, making agreements, and joining ventures for the growth of this revenue share and are estimated to be the major key players in this landscape.

    • Dow
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • DuPont
    • BSL Limited
    • China Petroleum & Chemical Corporation
    • DuPont de Nemours Inc.
    • Honeywell International Inc.
    • INVISTA (Koch Industries Inc.)
    • Paramount Textile Mills (P) Ltd.
    • Solvay SA
    • Aditya Birla Ltd.

In the News

  • Dow- along with Teach For All collaborates to support STEM (Science, Technology, Engineering, and Math) teacher recruitment, professional development, and placement.
  • DuPont- will be exhibiting at the 2024 Aircraft Interiors Expo (AIX), in Hamburg, Germany to showcase their long-established solutions for a cleanable, durable, customizable, and safer approach to aircraft interiors.

Author Credits:  Rajrani Baghel


  • Report ID: 6181
  • Published Date: Jun 13, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the textile market was over USD 978 billion.

The market size for the textile market is projected to cross USD 2.4 trillion by the end of 2036 expanding at a CAGR of 7.9% during the forecast period i.e., between 2024-2036.

The major players in the market are Dow, DuPont, BSL Limited, China Petroleum & Chemical Corporation, DuPont de Nemours Inc., Honeywell International Inc., INVISTA (Koch Industries Inc.), Paramount Textile Mills (P) Ltd., Solvay SA, Aditya Birla Ltd., and others.

In terms of raw materials, the chemicals segment is anticipated to account for the largest market share of 40% during 2024-2036.

The Asia Pacific textile sector is poised to hold the highest share of 52% by 2036.
Textile Market Report Scope
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